OSLO, Norway, March 27, 2025 -- The world's first large-scale BECCS (bioenergy with carbon capture and storage) project is moving into construction following a final investment decision (FID) by Stockholm Exergi. The project will deploy Capsol Technologies' carbon capture solution to permanently remove 800,000 tonnes of CO₂ annually from 2028 and is backed by offtake agreements with Microsoft and Frontier Group.
The milestone positions Capsol as a front-runner in the emerging market for negative emissions and highlights the increasing maturity of carbon removal markets. Stockholm Exergi's project has received EUR 180 million from the EU Innovation Fund, as well as long-term offtake commitments from Microsoft (3.33 million tonnes) and Frontier Group (USD ~50 million), which includes Meta, Stripe, Alphabet, Shopify and McKinsey.
"This breakthrough is the result of Stockholm Exergi's pioneering efforts, strong market momentum for carbon removals, government support, and our cost-efficient, energy-smart technology," said Wendy Lam, CEO of Capsol Technologies. "It sets a global precedent for BECCS deployment and further strengthens confidence in Capsol's technology."
Capsol's end-of-pipe solution, CapsolEoP®, can delivers 20–60% lower levelized capture cost compared to amine-based technologies, enabled by integrated heat recovery and generation. The technology is particularly attractive for energy-from-waste and biomass plants with limited excess heat and is delivered as a stand-alone unit using the proven Hot Potassium Carbonate (HPC) solvent.
Capsol currently has biomass and EfW projects with a mature pipeline potential of 7.8 million tonnes of CO₂, translating into EUR 80–115 million in potential license revenues based on a target of EUR 10–15 per tonne.
"With the first FID for a large-scale project using our technology now in place, we expect this to accelerate commercial traction and de-risk adoption across industries," said Lam.
Stockholm Exergi's decision highlights the scalability of BECCS and Capsol's growing role in enabling carbon-negative projects globally.
About Capsol Technologies
Capsol Technologies ASA is a carbon capture technology provider with a goal of accelerating the world's transition to a net zero future. The technology combines inherent heat recovery and generation in a stand-alone unit based on a proven and safe solvent. Capsol's technology is licensed either directly to customers or through industrial partners globally. Capsol's key segments include cement, biomass, energy-from-waste and gas turbines. Capsol Technologies is listed on Euronext Oslo Børs (ticker: CAPSL). For more information, visit capsoltechnologies.com.
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