QUEBEC, June 28, 2017 /CNW Telbec/ - CO2 Solutions Inc. (or the "Corporation") (TSXV: CST) is pleased to announce that Team CERT, a multidisciplinary team of over 15 researchers based at the University of Toronto and led by Professor Ted Sargent, will partner with CO2 Solutions in the XPRIZE competition. This partnership constitutes a second entry for CO2 Solutions in the XPRIZE competition.
On October 17, 2016, the organizers of the XPRIZE competition announced that CO2 Solutions and CERT had both been selected to participate in the second round of the prestigious NRG COSIA Carbon XPRIZE competition. Alongside its entry in the competition, through which it will demonstrate a process of capture and reuse of CO2 into acetic acid, the Corporation has also been authorized to partner with other contenders offering a CO2 reuse process only. These newly formed combined entries will propose the CO2 Solutions capture process with the reuse process of the partner company. The announced CO2 Solutions–CERT entry is an example of such a combination. CO2 Solutions and CERT would share equally any prize money that maybe awarded to this joint entry.
Team CERT has developed a promising technology based on a record performing catalyst to transform CO2 into carbon monoxide (CO). This industrial gas is central to the purification of metals from ores. CO also plays a major role for the bulk production in the chemical industry.
About the NRG COSIA Carbon XPRIZE Competition
Few challenges are greater and more critical than ensuring access to clean, affordable and abundant energy. As the global energy supply remains primarily derived from fossil fuels – the leading contributor to climate change – the $20M NRG COSIA Carbon XPRIZE will challenge the world to reimagine what we can do with CO2 emissions by incentivizing and accelerating the development of technologies that convert CO2 from a liability into valuable products. For more information, visit: www.carbon.xprize.org.
About Team CERT
Team CERT is a multidisciplinary team of researchers affiliated with the University of Toronto in Canada. The Team has a diverse background spanning chemistry, materials science, physics, photonics and electrical engineering. Their work on addressing the need for carbon-neutral fuel systems has focused on efficient reduction of atmospheric CO2 into usable carbon products for renewable fuels and chemical feedstocks. Team CERT has developed record performance catalysts for the reduction of CO2 into CO, and the evolution of O2 from H2O—two key reactions needed to realize this goal. Further information can be found at http://carbon.xprize.org/teams/cert.
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; TACT Intelligence Conseil, Marie-Ève Bédard, 418-572-1625, [email protected]; NATIONAL Equicom, Marc Lakmaaker, 416-848-1397, [email protected]