10 September 2025
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Swedish air treatment and climate control specialist Munters is increasing its ownership stake in Norway's Capsol Technologies, a leading provider of carbon capture technology.
The parties say they are also expanding a strategic partnership to include commercial collaboration, creating new opportunities in the growing market for carbon capture solutions.
Munters and Capsol entered into an R&D collaboration in 2024 following an investment round where Munters took a small shareholder position in Capsol. 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 to approximately 7%.
“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,” said Henrik Teiwik, President of Munters business area AirTech. “Clean Technologies is one of Munters prioritised 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, according to Wendy Lam, CEO of Capsol Technologies.
She said: “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.”
