CO2 Capsol, the company developing carbon capture systems, announced on July 9th it signed a license patent agreement with Stockholm Exergi for the use of CO2 Capsol´s Hot Potassium Carbonate (HPC) carbon capture technology.
The Norwegian carbon capture company will have its system utilized at Stockholm Exergi´s biomass-powered Combined Heat and Power (CHP) plant at Värtaverket in Stockholm.
The facility will have the potential to capture 800 000 tons of CO2 per year which will make it the largest carbon capture entity in Scandinavia. It is also projected to begin operations at the end of 2025.
Stockholm Exergi is a Swedish energy company that produces resource-efficient district heating, district cooling, and electricity.
“As a result of being a first mover to install CO2 Capsol’s proprietary technology, Stockholm Exergi has received more favorable terms than CO2 Capsol expects to achieve on following projects… Nevertheless, the patent license agreement will generate highly satisfactory income for the company no later than in 2024,” commented Stockholm Exergi on the deal.
According to CO2 Capsol CEO Jan Kielland, the agreement is a great opportunity for the company and proves its technology can compete at the highest level.
The company has a competitive technology protected by IP rights. The base case revenue model is to license out patents and negotiate directly with project owners.
Its longer-term goal is to be a global leader in capturing CO2 from cement, biomass, energy-from-waste (EfW), power plants, and industrial facilities with its safe and cost-competitive Hot Potassium Carbonate (HPC) carbon capture technology called Capsol EoP (End of Pipe). As carbon capture tech is essential for decarbonizing those hard-to-abate sectors, its role in developing such critical solutions is indispensable.