TSX-V: CST
QUEBEC CITY, Aug. 7, 2018 /CNW Telbec/ - CO2
Solutions Inc. ("the Corporation") (TSXV: CST), the leader in the
field of enzyme-enabled carbon capture technology, is pleased to
announce that it has received a $375,000 non-refundable contribution from Natural
Resources Canada (NRCan) towards reducing the cost and improving
the performance of the Corporation's proprietary carbon capture
technology.
Under the terms of the contribution agreement, NRCan's
assistance is directed towards helping the Corporation improve the
overall performance of its CO2 capture system through
optimized process configurations. Such improvements translate into
a decrease in capital and operational expenditures required in
future commercial projects integrating the enzymatic technology.
Now that this technology has been demonstrated at large scale and
has reached commercial stage, system cost-cutting is
CO2 Solutions' top priority to maintain its
technology lead and commercial competitiveness.
Evan Price, President and Chief
Executive Officer of CO2 Solutions, commented, "We are
grateful for the continued support from Natural Resources Canada
and the confidence it reflects in our carbon capture technology to
economically reduce CO2 emissions. These funds will be
applied towards the further improvement of our technology that has
already demonstrated industry-leading advantages in terms of low
cost and environmental impact."
"Our government is supporting innovative research across the
country," said the Honourable Amarjeet Sohi, Canada's Minister of Natural Resources.
"Today's funding announcement focuses on carbon capture—ultimately
giving Canadians cleaner air by reducing air pollution—and
supporting industries' transition to a low carbon economy to meet
our climate change goals."
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 because 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.