Independent collaboration to market and deploy industrial projects integrating CO2 Solutions' proprietary technology
QUEBEC CITY and MONTREAL, Nov. 15, 2016 /CNW/ - CO2 Solutions Inc. (or "the Corporation") (TSX-V: CST), the leader in the field of enzyme-enabled carbon capture technology, and Seneca Engineering Inc. ("Seneca"), a consulting and engineering firm specialized in the design and realization of industrial processing plants in Quebec and abroad, today announced that they have entered into an independent collaboration agreement to jointly deploy market opportunities for carbon capture, storage and usage (CCSU) in an industrial setting.
Under the terms of the agreement, CO2 Solutions and Seneca will collaborate on bringing to market and building carbon capture solutions, combining CO2 Solutions' low-cost, nontoxic enzyme-enabled technology with Seneca's process engineering expertise. Through Seneca's collaboration, CO2 Solutions will gain more ready access to a number of potential customers in industries such as food processing, biogas processing and carbonation processes in the mineral extraction sector.
"We believe this collaboration with Seneca will accelerate development of our business pipeline, as well as facilitate project realization," stated Evan Price, President and Chief Executive Officer of CO2 Solutions. "We look forward to leveraging our excellent and successful collaboration on the Valleyfield project, which conclusively proved the technology, its low-cost nature, as well as the stability and ease of operation. Furthermore, this collaboration with Seneca delivered the project on-time and on-budget, a positive experience we will be leveraging in pursuing the growing number of commercial opportunities for our technology."
"We are looking forward to teaming up with CO2 Solutions in implementing their carbon capture technology with our industrial clients," said Benoit Couture, Eng., President and Chief Executive Officer of Seneca. "The experience gained in the Valleyfield project and the strength of our joint teams will enable us to move quickly on a number of attractive opportunities we have identified. We are witnessing growing demand for the deployment of low-cost and sustainable solutions to integrate carbon capture systems on industrial sites, both for sequestration and for reuse purposes, and we are well positioned to offer this technology to our customer base."
Seneca is a private consulting and engineering firm specialized in the design and realization of industrial processing plants. The firm offers comprehensive professional services for the implementation of industrial investment projects in Quebec and abroad. Seneca's proven methods help their clients carry out and maintain full control of their boldest industrial investment projects by mastering the fundamental application concepts and application methods. The Seneca team of over 85 experts have helped realize thousands of industrial projects in some 15 countries, ranging from the smallest changes to an existing plant to the construction of entire commercial plants in EPCM mode. The firm particularly excels in executing projects that require the development of new processes or the integration of new technologies into existing processes. Seneca acts as the path from the client's ideas created in the laboratory, to the pilot plant and demonstration plant, finally leading to market. Further information can be found at www.seneca.ca.
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, [email protected], www.co2solutions.com; or NATIONAL Equicom, Marc Lakmaaker, 416-848-1397, [email protected]