Outstanding shares: 60,261,136
QUEBEC CITY, June 8 /CNW Telbec/ - CO2 Solution Inc. ("CO2 Solution" or the "Company") is pleased to announce that it has received a certification from le Ministère du Développement économique, de l'Innovation et de l'exportation (MDEIE) that the Joint Development Agreement (JDA) between CO2 Solution and its enzyme collaborator Codexis, Inc., of Redwood City, California, constitutes a partnership contract within the framework of a precompetitive research project. As such, CO2 Solution will receive additional tax credit payments based on eligible research & development (R&D) expenditures for the period ending January 31, 2011. Through this additional tax credit eligibility, CO2 Solution will receive up to a total of $600,000 for the nearly $3 million being invested in R&D expenditures as part of the joint development with Codexis.
About CO2 Solution
Based in Quebec City, CO2 Solution Inc. has developed a proprietary bio-technological platform for the efficient capture of carbon dioxide (CO2), the most important greenhouse gas (GHG), from power plants and other large stationary sources of emissions. The Company's technology platform exploits the natural power of a bio-catalyst (enzyme), carbonic anhydrase, which functions within humans and other mammals to manage CO2 during respiration. CO2 Solution has successfully adapted the enzyme to function within an industrial environment, and thus has taken advantage of a biomimetic approach to CO2 capture based on millions of years of evolution. The Company is commercializing its technology for coal fired power generation, the oil sands and other CO2-intensive industries where a low-cost capture solution is key to meeting climate change legislation in a cost effective manner.
CO2 Solution's technology platform is protected by several North American and European patents, including the use of carbonic anhydrase for CO2 capture and release in a packed column system. News releases and additional information can be found at www.co2solution.com
Forward-looking Statements: Certain statements in this news release may be forward-looking. These statements relate to future events or CO2 Solution's 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 Solution 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: For further information: Hélène Savoie, CO2 Solution Inc., (418) 842-3456, Ext. 206, email@example.com; www.co2solution.com