Capsol Technologies to list on the Norwegian stock exchange
Capsol Technologies ASA, a leading provider of carbon capture solutions, has announced its plans to list the company on the main board of Norway’s stock exchange, Euronext’s Oslo Børs. The company expects the first day of trading to be on June 19.
Being traded on the main board of the stock exchange makes the company more accessible to global investors. Following an equity offering in February 2024 of about $8 MM, the company is fully financed to deliver on its business model, including strategic initiatives for its ongoing North American expansion and the launch of the emerging carbon capture technology solution for gas turbines, CapsolGT®.
In July 2022, Stockholm Exergi – a combined heat and power plant in Sweden, selected Capsol Technologies' CapsolEoP® for its large-scale Bio-energy Carbon Capture and Storage (BECCS) project which will capture 800,000 tons of CO2 annually once fully operational. Microsoft has committed to purchasing 3.33 million tons of permanent carbon removals, the world's largest to date.
Wendy Lam, CEO of Capsol Technologies said: “Capsol Technologies is one of the only pure-play listed carbon capture technology companies globally and by taking the step to Oslo Børs’ main board we are making the shares more accessible for international investors. We're encouraged by the traction we have in Europe with four of the world’s largest decarbonizing industries: Biomass, energy-from-waste, cement and gas turbines. “
Capsol Technologies’ long-term goal is to establish itself in the top three positions for carbon capture technology in cement, energy recovery, biomass and gas turbines, targeting a market share of 5%-10% by 2030.
Lam continued “Expanding into North America, the world's largest CCS market, we aim to offer our combined post-combustion carbon capture and heat recovery system to hard-to-abate industries. Our solutions deliver superior efficiency using a proven and safe solvent. With a scalable business model and globally leading industry partners, we are well positioned to make real climate impact while generating attractive returns.”
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