TSX-V: CST
QUEBEC CITY, July 17, 2018 /CNW Telbec/ - CO2
Solutions Inc. (TSXV: CST) (CO2 Solutions or the
"Corporation") is pleased to announce that Hydro Québec, through
its Energy Technology Laboratory (Laboratoire des technologies de
l'énergie, LTE), has joined the Valorisation Carbone Québec ("VCQ")
Project as a service provider partner.
"CO2 Solutions is excited to welcome Hydro Québec
into the VCQ Project," stated Louis
Fradette, Project Director for the VCQ project. "Hydro
Québec's strong expertise in electrical processes such as
electrolysis and thermal plasma technology will contribute to
develop and improve conversion technologies aiming at transforming
CO2 into fuels and other useful chemicals. The VCQ
Project, the world's most comprehensive and ambitious
CO2 capture and utilization project, continues to draw
strong and committed partners such as Hydro Québec, and we are
looking forward to welcoming new partners with the recently
announced enhancement and extension of the project until 2022."
The service provider partner category is one of five partnership
types in the VCQ Project along with the founding, industrial,
utilization technology and end use. Service provider partners make
in-kind contributions to the VCQ project by providing their
services at a lower than market rate. The amount of these
contributions is undisclosed for competitive reasons. To date,
twelve different organizations have confirmed their participation
as partners in one or the other categories of the VCQ Project
making it a truly broad effort to address
CO2 mitigation through carbon capture and
utilization.
About the Valorisation Carbone Québec (VCQ) Project
The objective of the VCQ Project is to develop and demonstrate
commercially viable end-to-end solutions to capture and utilize
CO2 in various applications while at the same time
reducing greenhouse gas (GHG) emissions. Under the leadership of
CO2 Solutions, a world-class leader in this field, the
VCQ Project also includes the participation of Université
Laval and the Quebec government as Founding Partners.
Joining the founding partners are Total S.A, Parachem, Hatch Ltd.,
Carbon Consult Group, Pioneer Energy and Kiverdi.
The VCQ Project is headed by its Project Director, Dr.
Louis Fradette, former CTO at
CO2 Solutions. The demonstration phase of the VCQ
Project includes the design, construction, installation and
operation, at Parachem's industrial site in Montreal-East, QC, of a
CO2 capture unit using the Corporation's enzymatic
process, and CO2 utilization units provided by
utilization partners. The development phase of the VCQ Project aims
to advance one or several second-generation CO2
utilization processes based on the work already initiated at
various universities and public or private research centers.
Including this newly announced grant, the VCQ Project is supported
by a $22.5M grant from the Québec
government and monetary investments and/or in-kind contributions by
the Project partners.
About CO2 Solutions Inc.
CO2 Solutions is an innovator in the field of
enzyme-enabled carbon capture and has been actively working to
develop and commercialize the technology for stationary sources of
carbon pollution. CO2 Solutions' technology lowers the
cost barrier to Carbon Capture, Utilization and Sequestration
(CCUS), positioning it as a viable CO2 mitigation tool,
as well as enabling industry to derive profitable new products from
these emissions. CO2 Solutions has built an extensive
patent portfolio covering the use of carbonic anhydrase, or
analogues thereof, for the efficient post-combustion capture of
carbon dioxide with low‐energy aqueous solvents. Further
information can be found at www.co2solutions.com. Certain
statements in this news release may be forward-looking. These
statements relate to future events or CO2 Solutions'
future economic performance and reflect the current assumptions and
expectations of management. Certain unknown factors may affect the
events, economic performance and results of operation described
herein. CO2 Solutions undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be
required under applicable law.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE CO2 Solutions Inc.