Capsol Technologies Asa · OSL:CAPSL
Capsol Technologies Asa — Investor Presentation (March 2025)
12 slides from Capsol Technologies Asa's investor presentation, Mar 3, 2025
Slide 1: Strengthened CCS business case fuels pipeline growth
Strengthened CCS business case fuels pipeline growth Company presentation March 3, 2025 CEO Wendy Lam and CFO Ingar Bergh
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION IS NOT FO R PUBLICA TION NO R DISTRIB UTION, IN WHO LE OR IN P ART, DIRE CTLY OR INDIRECTL Y, IN OR INTO AUSTRALIA, CANADA O R THE UNITED S TATES (INCLUDING ITS TERRITORIE S A ND POSSE SSIONS, ANY STATE O F THE UNITED STATED A ND THE DISTRICT O F COLUMBIA ) O R ANY OTHE
Slide 3: Capsol delivers robust carbon capture technology
Capsol delivers robust carbon capture technology Separating CO2 from other gases Burning biomass Capsol for BECCS (bio-energy carbon to produce heat CO2 is compressed capture and storage) and electricity and transported • Ability to capture a wide range of flue gases: 3-30%1 • Top tier capture rate:
Slide 4: Licensor of point source carbon capture technology
Licensor of point source carbon capture technology Offering carbon capture and heat recovery in one system Attractive capture cost Electricity consumption Norway (HQ) 20-60% 0.5-1.5 US Germany Lower than amines1 GJ per ton of CO2 captured2 Technology experience Mature pipeline 15+ 17.2mt Decades pro
Slide 5: Highlights – Q4 and full-year 2024
Highlights – Q4 and full-year 2024 Strong revenue and • Revenues increased 2.75x to NOK 94.2 million pipeline growth • 45% y-o-y growth in mature project pipeline to 17.2 million tons annual CO2 capacity • EUR >200 million revenue potential in projects that can reach FID next three years Capsol’s te
Slide 6: Recent news – commercial traction continues
Recent news – commercial traction continues Total mature project pipeline >17m tons of CO2 capacity • Jan 16, 2025 – European cement plant awards Capsol Pre-FEED. 600,000 tons of CO2 per year. • Dec 20, 2024 – Large European utility awards Capsol feasibility study for energy-from-waste plant. Study
Slide 7: Strong traction driven by demand and competitiveness
Strong traction driven by demand and competitiveness 17mt mature pipeline at end of Q4 2024 representing up to EUR ~260m pre-tax profit potential +45% 20 18 16 Engineering studies Million tons CO2 14 12.0 mt 12 10 CapsolGo® 8 3.85 mt 6 4 License agreements 2 1.35 mt 0 Q4 2023 Q1 2023 Q2 2024 Q3 2024
Slide 8: Emerging as a preferred technology in target industries
Emerging as a preferred technology in target industries Biomass/Energy-from-waste Cement Gas turbines Clean power and new business Meeting new regulations and Decarbonize hard-to-abate Market drivers opportunities in carbon removal staying competitive gas power • Low energy consumption • Lower energ
Slide 9: First licensing fee from flagship BECCS project
First licensing fee from flagship BECCS project • Payment terms of the licensing agreement for CapsolEoP® were met by the end of 2024 • The CapsolEoP® technology has been validated through several significant milestones: ✓ 180 million EUR awarded by EU ✓ Environmental permitting complete ✓ World's l
Slide 10: Scalable business model yielding attractive returns
Scalable business model yielding attractive returns Low capital intensity Zero capex risk 40-60% pre-tax MAIN REVENUE CONTRIBUTION IN THE PAST MAIN CONTRIBUTION GOING FORWARD Timeline for a typical CCS project and Capsol’s revenue streams Sales Engineering Demonstration campaign Licensing Final inve
Slide 11: First licensing revenue – first profitable quarter
First licensing revenue – first profitable quarter Revenues mNOK 36 22 • 2.25x Q4-on-Q4 revenues, to NOK 36.1 million 16 20 17 • 2.75x y-o-y revenues, to NOK 94.2 million • Demonstration campaigns and engineering still main Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 revenue driver, first license revenu
Slide 12: Milestones expected next 6-12 months
Milestones expected next 6-12 months De-risking the path towards long-term goals and revenue potential Stockholm Exergi Fully booked New licensing Bringing Expanding FID1 CapsolGo® agreements CapsolGT® to partnerships capacity market Entered next phase of Generating high Proving technology Moving to
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