Outstanding shares: 79,687,836
QUEBEC CITY, Jan. 17, 2013 /CNW/ - CO2 Solutions Inc. ( TSXV: CST), an innovator in the field of enzyme-enabled carbon capture technology, today announced Louis Fradette, Ph.D. has been appointed Senior Vice President, Process Engineering and Chief Technology Officer. Dr. Fradette will be responsible for leading the development and application of the Company's carbon capture technology, notably in the recently announced Alberta oil sands project.
"Attracting a scientist of Dr. Fradette's calibre is evidence of the practical and commercial relevance of our technology," said Glenn Kelly, President and Chief Executive Officer. "His knowledge and experience in chemical absorption, particularly in carbon capture, makes him a strong addition to our team. Based on his background he will provide valuable insight to our oil sands carbon capture project."
"I look forward to being involved in the development and application of CO2 Solutions' innovative carbon capture technology, which clearly has the potential to be a breakthrough for low-cost carbon capture," added Dr. Fradette.
Dr. Fradette, an experienced research & development professional, has more than 25 years of chemical engineering, engineering development and project management experience. He holds a Master's degree in Chemical Engineering from Laval University in Quebec City, a Ph.D. in Process Engineering form l'Institut National Polytechnique de Lorraine in France, and a Ph.D. in Chemical Engineering from the École polytechnique de Montréal, where he is currently an associate professor in Chemical Engineering. Dr. Fradette's research and development activities encompass work in both the public and private sectors, including the petrochemicals and oil and gas industries, as well as multiphase hydrodynamics with application to carbon capture. He is a member of the Ordre des ingénieurs du Québec and the American Institute for Chemical Engineers.
As part of his remuneration package Dr. Fradette was granted 200,000 options to purchase CO2 Solutions' shares at a price of $0.10.
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 operations 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.
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