QUEBEC CITY, Oct. 12, 2017 /CNW Telbec/ - CO2 Solutions Inc. (or the "Corporation") (TSXV: CST) is pleased to announce that Hago Energetics Inc. and Breathe Applied Sciences Private Limited will separately partner with CO2 Solutions in the Carbon XPRIZE. These two new partnerships bring the total number of entries to six for CO2 Solutions in this competition, including the Corporation's two own entries converting CO2 into biofuels from respectively coal and natural gas flue gas streams.
On October 17, 2016, the organizers of the competition announced that CO2 Solutions had been selected to participate in the second round of the prestigious NRG COSIA Carbon XPRIZE. The Corporation has been authorized to partner with other semi-finalists offering a CO2 utilization technology only, and is the only provider of a CO2 capture technology in the Carbon XPrize to have publicly announced such synergistic partnerships. These combined entries will propose CO2 Solutions' carbon capture technology with the partner's CO2 utilization technology. The above-mentioned partnership entries are examples of such combinations. CO2 Solutions and its combined-entry partner would share equally any prize money that may be awarded to this joint entry.
Hago Energetics from Thousand Oaks, California, has developed a technology that converts CO2 from power plants into activated carbon, biochar and renewable fuels using energy from biomass.
Breathe Applied Sciences from Bangalore, India, has developed a technology that converts CO2 into value-added products such as methanol.
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: carbon.xprize.org.
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 emissions. CO2 Solutions' technology lowers the cost barrier to Carbon Capture, Utilization and Sequestration (CCUS), 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, Jeremie Lavoie, 418-842-3456, ext. 223, [email protected], www.co2solutions.com; NATIONAL Equicom, Marc Lakmaaker, 416-848-1397, [email protected]