Results confirm cost effectiveness of Company's technology through its reduced parasitic load.
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QUEBEC CITY, April 23, 2015 /CNW/ - CO2 Solutions Inc. (TSX-V:CST), the leader in the field of enzyme-accelerated carbon capture technology, and the University of North Dakota's Energy & Environmental Research Center (EERC), one of the world's foremost carbon capture test centers, today announced the results of the pilot testing of CO2 Solutions' carbon capture process, completed in January 2015. The results provide support that the Company's innovative technology can provide reduced operating costs and reduced parasitic load relative to conventional CO2 capture processes.
The results indicate that the CO2 Solutions' enzyme-accelerated process, using its proprietary 1T1 enzyme, shows potential for CO2 capture that may be better than existing conventional capture technologies. In addition, CO2 Solutions' technology requires substantially lower temperatures for regeneration than comparable technologies, which would allow for the use of nil-value low-grade heat (<80°C).
"The CO2 Solutions technology is unique in that it can operate using readily available, low-grade heat that would otherwise remain unutilized," stated John Kay, EERC Senior Research Manager. "Using the enzyme-accelerated process from CO2 Solutions, a new economic option is created that has the potential to pave the way for greater adoption of carbon capture for both sequestration and commercial use."
Modelling of CO2 Solutions' technology indicates that by using this low-grade heat, the effective parasitic load on the emitting power plant can be reduced to only 0.2 GJ/tonne of CO2 captured. Parasitic load is a measure for the reduction in efficiency of power generation plants as a result of bolt-on carbon capture processes and is the largest operating cost component of these same processes.
The Company's technology compares very favourably with the 3.5 GJ/tonne parasitic load for conventional amine-based (MEA) technology, or even with recent announcements regarding claims of approximately 2.2 GJ/tonne from more advanced amine-based solvents. Implementation of such technologies with high parasitic loads would result in a significant increase in the cost of power generated as well as a reduction in the net generating capacity of the power plant.
The testing programme was conducted at the facilities of the EERC, who led the performance evaluation of CO2 Solutions' process. The test data was then used as inputs for models to simulate CO2 capture from typical coal- and gas-fired power generation plants, based on the methodology established by the U.S. Department of Energy (DOE), in order to provide meaningful benchmarking.
"These conclusive results position our technology well for larger-scale demonstration, such as our project with Husky Energy," stated Dr. Louis Fradette, CO2 Solutions' Chief Technology Officer. "We thank the EERC for their collaboration during the test program and look forward to working with them again in the near future".
The results were based on testing of CO2 Solutions' enzyme-accelerated process, applied to flue gas from natural gas and coal combustion. The testing involved the use of EERC's state-of-the-art packed column test facility at a scale of approximately 1 tonne-CO2/day. Using CO2 Solutions' proprietary high-performance 1T1 enzyme, the concluded programme represents the largest scale test to date of an enzyme-based CO2 capture process.
As a follow up to today's announcement, CO2 Solutions and EERC will present the results with further details at the 14th Annual Conference on Carbon Capture Utilization & Sequestration in Pittsburgh, PA on April 29, 2014. Details of the conference can be found at http://www.carbonsq.com/.
The Energy & Environmental Research Center (EERC) is recognized as one of the world's leading developers of cleaner, more efficient energy and environmental technologies to protect and clean our air, water, and soil. The EERC has more than 54,000 square feet of state-of-art demonstration facilities, occupying more than three city blocks, which house numerous bench- and pilot-scale combustion, gasification, and emission control systems. The EERC is a high-tech, non-profit branch of the University of North Dakota (UND). The EERC operates like a business; conducts research, development, demonstration, and commercialization activities; and is dedicated to moving promising technologies out of the laboratory and into the commercial marketplace. Further information can be found at http://www.undeerc.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 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 lowenergy 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 TMX Equicom: Marc Lakmaaker, 416-815-0700, ext. 248, [email protected]