Capsol Technologies (CAPSL) Pareto Securities' 32nd Annual Energy Conference Presentation summary

Technology and market positioning

• Licenses point source carbon capture technology with integrated heat recovery, offering 20-60% lower capture costs than amine-based systems and electricity consumption of 0.7-1.5 GJ per tonne CO2 captured.

• Over 20,000 demonstration hours and 15+ years of proven chemistry, with partnerships including Munters, Siemens Energy, and GE Vernova.

• Holds a leading position in the market with early traction and future growth potential in key regions such as Norway, Sweden, the US, and Germany.

Project pipeline and revenue potential

• Mature project pipeline increased 73% year-over-year to 22.6 mtpa, with a focus on cement, biomass, energy-from-waste, gas turbines, and emerging industries.

• Project pipeline includes 12.1 mtpa in cement (NOK 1.8bn revenue potential), 5.0 mtpa in biomass/energy-from-waste (NOK 0.7bn), and 5.5 mtpa in gas turbines and emerging industries.

• Holds more than 15 projects in cement, over 10 in biomass/energy-from-waste, and 4 licenses covering 2 mtpa.

Recent project highlights and collaborations

• Secured recent wins with a European lime producer (+400K mtpa) and a European BECCS project (+500K mtpa) in August 2025.

• Stockholm Exergi project in Sweden (800k mtpa, FID Q1 2025), Latvia project (750k mtpa, FID 2027), and ongoing CapsolGoⓇ campaign in Germany.

• Broader collaboration agreements and BECCS at international waste management (+200K mtpa, September 2025).