Outstanding shares: 79,187,836
QUEBEC CITY, July 12, 2012 /CNW/ - CO2 Solutions, Inc. (TSX-V:CST) announced today that its enzyme development
partner Codexis, Inc. (Nasdaq: CDXS) presented the results of its
enzyme-enabled carbon capture technology demonstration to the U.S.
Department of Energy, National Energy Technology Laboratory's 2012 CO2 Capture Technology Meeting.
The pilot-scale demonstration was conducted at the National Carbon
Capture Center (NCCC) in Wilsonville, Alabama. Codexis developed the
patented technology used under a license granted by CO2 Solutions. The results of the field test, which used flue gas emitted
from a Southern Company's power plant, showed that enzymes have promise
to facilitate CO2 capture at coal-fired power plants. This is the largest scale
enzyme-based carbon capture technology demonstration to date, with the
equivalent capture rate of 1,800 average sized trees per day.
"This achievement is a significant milestone for CO2 Solutions and Codexis," said Glenn R. Kelly, CO2 Solutions' President and Chief Executive Officer. "This demonstration
confirmed the potential of our Company's patented enzyme-based carbon
capture technology for use in large-scale industrial applications. We
expect these results will raise our technology's profile and advance
the development of enzyme-enabled carbon capture for power plant
In May 2010, Codexis received $4.7 million from the U.S. Department of
Energy's Advanced Research Projects Agency - Energy (ARPA-E) to develop
the enzyme carbonic anhydrase, which catalyzes the transfer of carbon
dioxide in nature and is designed to remove dangerous emissions from
coal-fired power plants.
In the research funded by ARPA-E, Codexis saw a two-million-fold
improvement in the thermal stability of carbonic anhydrase, at
temperatures between 140 and 180 degrees Fahrenheit. In addition,
preliminary analysis indicates the enzyme-based carbon capture
technology can substantially reduce parasitic energy loss compared to
the current state-of-the-art MEA technology.
A 2011 National Energy Technology Laboratory (NETL) report estimated
that coal-fired power plants account for roughly 37 percent of total
U.S. CO2 emissions and that current state-of-the-art MEA technology to capture CO2 could reduce power-generating capacity by 30 percent. Enzyme-based
technology, if successful, could play a role in meeting the proposed
new EPA standards (Carbon Pollution Standard for New Power Plants),
first published in April 2012 - theoretically capturing up to 90
percent of CO2 emissions of coal-fired power plants.
"Using Codexis' enzyme-based carbon capture technology, power plant
operators may be able to capture carbon much more efficiently," said
James Lalonde, Ph.D., Vice President of Biochemistry and Engineering
Research and Development, Codexis, who led the demonstration. "By
partnering with CO2 Solutions, we were able to access their broad patent portfolio, which
covers various processes for the use of carbonic anhydrase, and apply
Codexis technology to make biocatalysts work under harsh, real-world
The U.S. Department of Energy (DOE), National Energy Technology
Laboratory's 2012 CO2 Capture Technology Meeting is a public forum for presenting CO2 capture technology development status and accomplishments made under
NETL's Innovations for Existing Plants, Carbon Sequestration, and
Demonstration Programs and under DOE's ARPA-E. The event is being held
July 9 to July 12 in Pittsburgh, Pennsylvania. More information can be
found at http://netldev.netl.doe.gov/events/2012-co2-capture.
About the CO2 Solutions-Codexis Collaboration
A technology development collaboration between Codexis, Inc. and CO2 Solutions Inc. was announced in December 2009. CO2 Solutions and Codexis have collaborated on the development of
customized carbonic anhydrase biocatalysts and processes that could
significantly decrease the energy and capital costs associated with the
capture of CO2 from power plant flue gases. Program results to date have shown that
combined CO2 Solutions / Codexis proprietary technologies can be used to create and
deploy CA biocatalysts with substantially improved stability and
performance under harsh industrial conditions.
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 operations
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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