QUEBEC CITY, Jan. 12, 2017 /CNW Telbec/ - CO2 Solutions Inc. (TSXV: CST), the leader in the field of enzyme-enabled carbon capture technology, announced today that it has hired BBA, an independent Canadian consulting engineering firm, as lead engineers in support of the Corporation's first commercial installation, the Saint-Félicien pulp mill and greenhouse carbon capture project.
As announced in August 2016, CO2 Solutions signed a definitive agreement with Fibrek General Partnership, a subsidiary of Resolute Forest Products Inc. (TSX: RFP) (NYSE: RFP), and Serres Toundra Inc., for the deployment of a carbon capture unit at a pulp mill in the Saint-Félicien region of Quebec (Canada) and the commercial reuse of the captured CO2 by the adjacent Serres Toundra greenhouse facility.
The project, budgeted at $7.4 million, involves the capture of up to 30 tonnes-CO2/day (tpd) from Resolute's softwood kraft pulp mill in Saint-Félicien and its transportation to Serres Toundra's neighbouring state-of-the-art vegetable greenhouse, which was commissioned in November 2016. In this way, the project will both improve the yield at the greenhouse and reduce the carbon footprint of the pulp mill, providing tangible economic benefits to both Resolute and Serres Toundra.
"BBA is a first-class engineering firm, and we believe the right partner to provide the support for the construction of our first commercial project, as well as lay the blueprint for future commercial projects" stated Evan price, President and Chief Executive Officer of CO2 Solutions. "Additionally, this collaboration will enable BBA to present our carbon capture process to their customer base, thus creating an interesting market opportunity for our technology."
"We are very excited to play such a key role in deploying CO2 Solutions' first commercial installation of this breakthrough technology," said André Allaire, Eng. Ph.D., President of BBA. "This is an important project for us, for Quebec and for Canada that, we believe, reflects a great opportunity to help industry meet increasingly strict carbon reduction targets, while remaining competitive. We also look forward to introducing the concept to those of our existing customers who are active in industry sectors where carbon emissions are of particular concern."
As announced on March 4, 2016, and December 14, 2016 respectively, Sustainable Development Technology Canada (SDTC) will provide $2.4 million and Quebec's Ministère de l'Énergie et des Ressources naturelles will provide $3 million towards the Project in the form of non-refundable grants. The project officially kicked off in December 2016 and is scheduled for completion by the end of 2017.
For over 35 years, BBA has been offering a wide range of consulting engineering and project management services, from project definition to commissioning. The firm's expertise is recognized in the fields of energy, mining and metals, and oil, gas and biofuels. BBA relies on a team of seasoned experts to transform complex problems into practical, innovative and sustainable solutions. BBA is supported by a network of offices across Canada to better serve its clients and carry out mandates at the local, national and international levels. Further information can be found at www.bba.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]