Company comments on patent portfolio in context of proposed U.S. EPA
QUEBEC CITY, June 5, 2014 /CNW/ - CO2 Solutions Inc. ( the "Corporation") (TSX-V:CST), an innovator in the
field of enzyme-enabled carbon capture technology, today announced it
has received a Notice of Allowance from the U.S. Patent and Trademark
Office for its patent application No. 13/264,294 entitled Process for CO2 Capture Using Micro-Particles Comprising Biocatalysts. The Corporation also takes this opportunity to provide an update on
the depth and breadth of its U.S. intellectual property portfolio in
context of the landmark announcement made this week by the U.S.
Environmental Protection Agency (EPA) on the regulation of carbon
emissions from existing power plants.
Upon issuance, the patent will provide CO2 Solutions with broad coverage for the use of biocatalysts, including
carbonic anhydrase enzymes, for carbon capture in a packed reactor from
any gas stream with any solvent where the enzymes are attached to the
surface of micro-particles or entrapped in porous micro-particles. The
Corporation believes the allowed patent constitutes a valuable process
innovation, which will allow for exclusive use of enzymes in various
industrial applications, with additional flexibility as to process
"We believe that with the allowance of this patent, combined with our
already very comprehensive intellectual property portfolio, the Company
has covered all viable routes to commercialization of carbonic
anhydrase enzyme based systems for the capture of CO2," stated Evan Price, President and Chief Executive Officer of CO2 Solutions.
Together with this patent allowance, CO2 Solutions now holds 24 issued and allowed U.S. patents, and an
additional 6 pending patent applications. The Corporation's patent
portfolio provides broad exclusivity for the application of any
carbonic anhydrase enzyme for the efficient capture of CO2 from any stationary emissions source and production of concentrated CO2 or bicarbonate, which is then available for industrial utilization or
storage. Included is also specific patent coverage in the application
of the technology at fossil-fuel-fired power plants, using any solvent
in any reactor type, packed tower or otherwise, as well as the use of
carbonic anhydrase in combination with various solvents including
carbonates and alkanolamines, among others.
Proposed EPA legislation to drive market for CO2 capture technologies
On June 2, 2014, the EPA released its Clean Power Plan, which proposes
to dramatically cut carbon pollution from power plants, the single
largest source of carbon pollution in the U.S. The plan foresees in
the application of various tools to bring about the desired reduction
in CO2 emissions, including the use of remedial technologies such as carbon
capture. The Corporation believes its proprietary technology is among
the most credible low cost alternatives for carbon capture, as well as
the economic reuse thereof. According to the International Energy
Agency GHG Program, as of 2011 there were more than 1,000 fossil fuel
power plants in the U.S., which generated over 2.2 billion tonnes of CO2 emissions.
Price continued, "With the EPA's proposed regulations for existing power
plants, we are witnessing a marked shift in attitude in the United
States to effectively regulate harmful carbon pollution. By enforcing
concrete emission reduction targets, the meeting of which we believe
will depend to a large extent on the use of remedial technologies, the
new regulations have the potential to substantially expand the market
for carbon capture technologies. Our enzymatic technology, backed by
an extremely robust patent portfolio, is positioned to provide a
retrofitable solution for these power plants, where their CO2 emissions can be efficiently captured and sequestered, or profitably
reused for existing needs such as Enhanced Oil Recovery."
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
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.
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