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QUEBEC CITY, Sept. 26, 2014 /CNW/ - CO2 Solutions Inc. (TSX-V: CST), the leader in the field of enzyme-enabled carbon capture technology, today announced the signing of an Agreement with the University of North Dakota Energy & Environmental Research Center (EERC). With the Agreement, CO2 Solutions joins EERC's program Advancing CO2 Capture Technology: Partnership for CO2 Capture (PCO2C) Phase III as a sponsor.
Under the program, CO2 Solutions will test its technology at EERC's existing testing facility using natural gas and coal flue gas in December, 2014. The program's goal is to evaluate several CO2 capture technologies that are among the most advanced systems under development for application to power and steam generation plants.
The tests will have approximately twice the capacity of the Corporation`s largest testing to date. Data from the EERC program is expected to provide valuable input for the pilot initiative to run with Husky Energy in 2015. Additionally, it will provide additional performance benchmarking of CO2 Solutions' enzyme-accelerated process against other solvent-based processes.
"We are honoured to join the EERC program, which is recognized as one of the leading CO2 capture testing and benchmarking initiatives in the world today," said Evan Price, President and CEO of CO2 Solutions. "We also expect that the program will benefit our U.S. market entry, particularly for commercial applications such as Enhanced Oil Recovery, through the exposure of our technology to the program's prominent industry participants. Additionally, the EERC program offers a flexible platform that allows for the testing of different equipment configurations. The latter is part of our strategy to deliver a commercial solution that offers both low operating and capital costs compared to existing equipment solutions available today".
"We are excited to welcome CO2 Solutions to the PCO2C program," said John Kay, EERC Senior Research Manager. "We believe its enzymatic technology holds considerable promise as a new, lower-cost approach for carbon capture, utilization and sequestration".
The testing program is supported financially in part by the U.S. Department of Energy (DOE). Further background information is available at http://www.undeerc.org/Expertise/Partnership-for-CO2-Capture-Technology-Development.aspx. Certain results of CO2 Solutions' testing will be made available to the program consortia, which includes the DOE, other leading CO2 capture technology providers, major energy companies, and electric utilities.
The Energy & Environmental Research Center (EERC) is recognized as one of the world's leading developers of cleaner, more efficient energy and environmental technologies to protect and clean our air, water, and soil. The EERC has more than 54,000 square feet of state-of-art demonstration facilities, occupying more than three city blocks, which house numerous bench- and pilot-scale combustion, gasification, and emission control systems. The EERC is a high-tech, non-profit branch of the University of North Dakota (UND). The EERC operates like a business; conducts research, development, demonstration, and commercialization activities; and is dedicated to moving promising technologies out of the laboratory and into the commercial marketplace. Further information can be found at http://www.undeerc.org/.
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, Sequestration and Utilization (CCSU), 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.
CO2 Solutions Forward-looking Statements
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.
For further information: Investor Relations and Media Contact: CO2 Solutions: Thom Skinner, 418-842-3456, ext. 223, firstname.lastname@example.org, www.co2solutions.com; or TMX Equicom, Marc Lakmaaker, 416-815-0700, ext. 248, MLakmaaker@tmxequicom.com