Slide 1: Accelerating the world's transition to a carbon negative future
Accelerating the worlds transition to a carbon negative future CO2 CAPSOL – FIRST HALF YEAR RESULTS 2022 16 September 2022
Slide 2: Jan Kielland, CEO and Ingar Bergh, CFO
Jan Kielland Ingar Bergh CEO CFO © 2022 CO2 CAPSOL – FIRST HALF YEAR RESULTS PRESENTATION 2
Slide 3: Introduction
Title Lorem Ipsum Dolor Introduction © 2022 CO2 CAPSOL – FIRST HALF YEAR RESULTS PRESENTATION 3
Slide 4: CO2 Capsol at a glance
CO2 Capsol at a glance Ready-to-scale carbon capture technology …gaining global commercial traction • CO2 Capsol has developed a safe and cost-effective carbon capture technology • We license out our technology, either directly to emitters or through global distribution partners • The technology is
Slide 5: 46% annual growth in CO2 capture required by 2030
46% annual growth in CO2 capture required by 2030 Path to net zero: CO2 capture capacity required by 2030 Capacity by segment Required 2030-2050 850 Biomass (BECCS) 800 750 Other fuel H2 700 transformation 650 Million tons C02 per year 600 Chemicals CO2 capture capacity 550 growth required 500 annua
Slide 6: Proven technology reusing energy in the capture process
Proven technology reusing energy in the capture process Patented heat recuperation process with potassium carbonate • CO2 Capsol’s technologies is maximizing efficiency of the absorption/desorption process • Near zero emission to air and no amine degradation products High-purity CO2 • The captured c
Slide 7: Highlights
Title Lorem Ipsum Dolor Highlights © 2022 CO2 CAPSOL – FIRST HALF YEAR RESULTS PRESENTATION 7
Slide 8: First CapsolGo campaign
First CapsolGo™ campaign • January 2022 - A final investment decision for the first mobile carbon capture demonstration unit, CapsolGo™ • March 2022 - First signed contract for a demonstration campaign at Öresundskraft AB at their EfW (Energy-from-Waste) plant in Helsingborg. Operational start in Se
Slide 9: First CapsolGo campaign
First CapsolGo™ campaign We care We can We capture © 2022 CO2 CAPSOL – FIRST HALF YEAR RESULTS PRESENTATION 9
Slide 10: Collaborations and 2nd CapsolGo unit
Collaborations and 2nd CapsolGo™ unit Second CapsolGo™ unit • February 2022 – Announced collaboration (MoU) with • June 2022 - A second CapsolGo™ Hitachi Zosen Inova (HZI) – a Swiss Japanese greentech unit was ordered due to strong company. interest for the CapsolGo™ 4-month • Collaboration to imple
Slide 11: First large-scale project won with Stockholm Exergi
First large-scale project won with Stockholm Exergi July 2022 - CO2 Capsol signs Patent License Agreement with Stockholm Exergi • Stockholm Exergi provides power, district heating and cooling • Owned 50% by the City of Stockholm and 50% by long-term investors led by APG • Energy from biomass is cons
Slide 12: First large-scale project won with Stockholm Exergi
First large-scale project won with Stockholm Exergi CO2 Capsol’s technology selected as the preferred solution due to: • Highly competitive economics • Ease of Capsol EoP installation • Proven technology and safety of HPC compared to amines • Opportunity to recover carbon capture process heat for di
Slide 13: Established partnerships across the value chain
Established partnerships across the value chain EPC provider for licensing model Development & supply cooperation International EPC provider for Energy and The focus of the cooperation lies in the development Infrastructure Projects with broad inhouse and supply capability of small-scale modular car
Slide 14: Experienced management team dedicated to create value
Experienced management team dedicated to create value Jan Kielland, Chief Executive Officer Cato Christiansen, Chief Technology Officer >40 years´ experience with management and board Former Shell, SPT Group and the Norwegian Ministry of positions in the energy sector internationally. MSc in Petrole
Slide 15: Investment highlights
Investment highlights • Path to net zero calls for EUR ~13bn of carbon capture technology capex to be 46% annual growth in CO2 capture capacity sanctioned next eight years required by 2030 • Cement, power generation and chemicals are key drivers A competitive solution and an • Attractive solution: P
Slide 16: Finance
Title Lorem Ipsum Dolor Finance © 2022 CO2 CAPSOL – FIRST HALF YEAR RESULTS PRESENTATION 16
Slide 17: Income statement
Income statement Operating cost breakdown Figures in million NOK Building business and pipeline – Limited revenue Operating cost in line with expectations – organisational ramp up Cost mainly related to personnel expenses and technical / commercial services Share based comp. Professional fees 3,4 3,
Slide 18: Balance sheet
Balance sheet Main assets breakdown Figures in million NOK Cash, IP and Plant equipment No interest-bearing debt Good cash position of 60 million NOK Plant equipment (9.3x total liabilities) 12,2 Total book equity of 75 million NOK IP 6,7 Cash Receivables 60,4 2,6 © 2022 CO2 CAPSOL – FIRST HALF YEAR
Slide 19: Cash flow statement
Cash flow statement Aggregate net cash flow for H1 ‘22 Figures in million NOK Start of Modest burn rate – about 24 million NOK period 84,9 Share based comp. Ramp-up of organization and activities Net loss 5,4 Deprectiation -17,0 ongoing 0,2 Changes accruals Investments Changes accounts -2,4 -9,2 -1,
Slide 20: Attractive licensing model
Attractive licensing model Highly scalable • No inherent boundaries to number of projects and project geography – can work with new partners as required • Limited capital and resource requirements to enter new projects CO2 Capsol will license its • Can work with partners that are specialists in diff
Slide 21: Three main offerings to support all kinds of emitters
Three main offerings to support all kinds of emitters Demonstration unit: CapsolGoTM Small-scale Large-scale 700 tons CO2/year +/- 100,000 tons CO2/year 250,000+ tons CO2/year Verify technology with client’s flue gas to reduce Potential for module-based plants Licensing of technology – delivery unce
Slide 22: Revenue models and financial targets
Revenue models and financial targets Key comments METRIC KEY COMMENTS 7-12 EUR per ton installed capture capacity, • Implementation is highly scalable and driven by REVENUE LICENSING can be split between upfront payment partnership with global industrials MODEL based on Capex and EUR/ton recurring c
Slide 23: Roadmap for establishing a leading market position
Roadmap for establishing a leading market position Winning initial projects Capturing market share Scaling revenue 2022-2023 2024-2025 2026-2030 • 2 mobile demonstration units in • Additional demonstration units • Reach 5% market share operation • Secured 8 small projects or more • Consider extendin
Slide 24: Q&A
Title Lorem Ipsum Dolor Q&A © 2022 CO2 CAPSOL – FIRST HALF YEAR RESULTS PRESENTATION 24
Slide 25: Supporting slides
Title Lorem Ipsum Dolor Supporting slides © 2022 CO2 CAPSOL – FIRST HALF YEAR RESULTS PRESENTATION 25
Slide 26: Income statement
CO2 CAPSOL FIRST HALF YEAR REPORT 2022 Income statement Amounts in Norwegian Kroner H1 2022 H1 2021 2021 Operating income and expenses Revenue - 37,950 37,950 Other operating income 21,666 16,458 29,624 Total operating income 21,666 54,408 67,574 Personnel expenses 11,282,549 2,261,504 13,186,306 De
Slide 27: Balance sheet
CO2 CAPSOL FIRST HALF YEAR REPORT 2022 Balance sheet Amounts in Norwegian kroner 30.06.2022 30.06.2021 31.12.2021 Amounts in Norwegian kroner 30.06.2022 30.06.2021 31.12.2021 EQUITY AND LIABILITIES ASSETS Fixed assets Equity Intangible assets Paid-up equity Share capital 50,582,776 35,651,739 50,582
Slide 28: Cash flow statement
CO2 CAPSOL FIRST HALF YEAR REPORT 2022 Cash flow statement Amounts in Norwegian Kroner H1 2022 H1 2021 2021 CASH FLOWS FROM OPERATING ACTIVITIES Loss before tax - 16,988,790 - 5,295,150 -25,253,778 Ordinary depreciation 215,897 215,897 431,794 Change in accounts receivable - 49,050 49,050 Change in