Munters invests in Norway’s Capsol to strengthen carbon capture offering
Sep 10, 2025
Munters, a global leader in energy efficient air treatment and climate control solutions, is increasing its ownership stake in Capsol Technologies ASA, a leading provider of carbon capture technology. The parties are also expanding a strategic partnership to include commercial collaboration, creating new opportunities in the growing market for carbon capture solutions.
Munters business unit Clean Technologies and Capsol entered into an R&D collaboration in 2024 following an investment round where Munters took a small shareholder position in Capsol, which is listed on Euronext Oslo Børs. To support Capsol’s continued development, Munters has now agreed to acquire newly issued shares for EUR 2 million through a private placement, increasing its stake in Capsol to approximately 7%.
Going forward, the two companies have identified synergies in taking a coordinated go-to-market approach and will serve more projects with offerings that combine Capsol’s carbon capture process and Munters solutions.
“We’re pleased to deepen our partnership with Capsol, enabling a stronger offering towards customers and industries that are seeking to reduce their carbon emissions,” says Henrik Teiwik, President of Munters business area AirTech. “Clean Technologies is one of Munters prioritized growth areas and we see good potential in the carbon capture market. This is a great example of our approach to create new business opportunities through venture investments in companies with innovative adjacent technologies.”
Capsol’s technology is based on a proprietary process for capturing CO₂ from industrial emissions in industries such as cement, biomass, energy-from-waste and gas turbines. Munters offering for carbon capture includes mass transfer and mist elimination solutions which are at the heart of the chemical CO₂ absorption process. A joint approach will benefit both companies in this fast-evolving market, says Wendy Lam, CEO of Capsol Technologies:
“Over the past year our teams worked exceptionally well together, proving how complementary our solutions are. Extending the relationship into a commercial collaboration is the natural next step. Munters offering strengthens ours and helps customers advance projects with greater speed and confidence.”
For further information
Investors and analysts
Line Dovärn, Head of Investor Relations
E-mail: line.dovarn@munters.com, Mobile: +46 (0)73 048 8444
Media
Daniel Frykholm, VP External Relations & Internal Communications
E-mail: daniel.frykholm@munters.com, Mobile: +46 (0)70 206 7786
About Munters Group
Munters is a global leader in energy-efficient air treatment and climate solutions. Using innovative technologies, Munters creates the perfect climate for customers in a wide range of industries. Munters has been defining the future of air treatment since 1955. Today, around 5,000 employees carry out manufacturing and sales in more than 25 countries. Munters Group AB reported annual net sales of more than SEK 15 billion in 2024 and is listed on Nasdaq Stockholm. For more information, please visit www.munters.com.