Capsol Technologies reported continued commercial progress in the European cement sector in 1H26, despite a sharp decline in group revenues as slower market activity weighed on financial performance.
The carbon capture technology company highlighted Holcim becoming a strategic shareholder and Dyckerhoff launching a new CapsolGo demonstration campaign as strengthening its position in European cement. Capsol said it has undertaken 31 engineering studies and 11 demonstration campaigns across its markets and is positioned for more than 40 potential final investment decisions (FIDs).
Capsol is also developing a partner-led model intended to standardise carbon capture deployment across multiple plants. Working with partners including Saipem and Everllence, the approach aims to reuse engineering and operating data, coordinate procurement and reduce project costs and execution times.
Group revenue fell to NOK13.4m (US$1.4m) in 1H26 from NOK41.3m in 1H25, while gross profit declined to NOK7.1m from NOK22.7m. EBITDA was negative NOK33.4m, compared with negative NOK24.6m a year earlier. However, Capsol said cost reductions and increased demonstration and engineering activity are expected to improve financial performance during 2H26.
The company is simultaneously expanding into the US power market, where around 150 gas-turbine opportunities are being assessed, while maintaining cement and bioenergy with carbon capture and storage (BECCS) as key areas of European growth.
