#Sweden #Stockholm #Stockholm Exergi #Capsol Technologies #BECCS Project

Stockholm Exergi's Bold Step into the Future of Carbon Capture

In an exciting development for environmental technology, Stockholm Exergi has made a defining decision to commence construction on what will become the world’s first large-scale BECCS (bioenergy with carbon capture and storage) project. This innovative initiative, backed by a significant investment from the EU Innovation Fund, represents a pivotal moment in the field of carbon capture, particularly utilizing Capsol Technologies’ cutting-edge carbon capture solution.

What is BECCS?

BECCS combines renewable energy sources with carbon capture technology to create environmentally friendly energy while effectively removing carbon dioxide from the atmosphere. The Stockholm Exergi project aims to capture an impressive 800,000 tonnes of CO₂ every year starting from 2028, marking a significant step towards achieving global carbon neutrality goals.

Major Corporate Backing

Part of the project's strength lies in the robust offtake agreements secured with industry giants such as Microsoft and the Frontier Group, showcasing the growing market interest and backing for carbon-removal solutions. The agreements ensure that 3.33 million tonnes of CO₂ are accounted for, further solidifying the project's financial viability.

As Wendy Lam, CEO of Capsol Technologies stated, "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." These words convey the collective ambition and commitment of the stakeholders to not only address climate change but also to establish a precedent for future global BECCS initiatives.

Technological Advancements

Capsol's technology, specifically known as CapsolEoP®, is recognized for offering a more cost-effective alternative for carbon capture compared to traditional amine-based methods. This innovative tech employs integrated heat recovery and generation mechanisms that cater specifically to biomass and energy-from-waste (EfW) plants, which often face limitations regarding excess heat.

The project also holds promise for significant revenue potential, with Capsol boasting a mature pipeline capable of delivering 7.8 million tonnes of CO₂ removal, translating into an estimated €80-115 million in license revenues, based on an anticipated market rate of €10-15 per tonne.

Future Impact

The decision made by Stockholm Exergi firmly establishes growing confidence in BECCS technology and illustrates how such initiatives are becoming increasingly scalable. The precedent set by this project is expected to encourage other industries to adopt similar carbon-negative strategies. Lam further highlighted that with the first Final Investment Decision (FID) in place for such a large-scale project, commercial traction could accelerate, minimizing the risks tied to adopting this technology across various sectors.

About Capsol Technologies

Capsol Technologies ASA is focused on promoting a net-zero future by developing innovative carbon capture solutions. Their technology operates on a proven and safe solvent, making it an ideal solution for various key industries, including cement and gas turbines. Capsol’s mission is not just to provide technology, but to be an integral player in the transformative journey toward sustainability and carbon reduction.

In summary, Stockholm Exergi’s groundbreaking BECCS project, powered by Capsol Technologies’ state-of-the-art carbon capture system, signifies a bold stride toward environmental remediation and highlights the potential of collaborative corporate partnerships in advancing sustainable practices.