New economic benchmark for carbon capture meets U.S Department of Energy cost target 10 years ahead of schedule
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QUEBEC CITY, April 29, 2015 /CNW/ - CO2 Solutions Inc. (TSX-V: CST), the leader in the field of enzyme-enabled carbon capture technology today presented the full results of the pilot testing of CO2 Solutions' carbon capture process, completed in January 2015. The presentation was made at the Fourteenth Annual Conference on Carbon Capture, Utilization & Sequestration in Pittsburgh, Pennsylvania. This presentation follows on the announcement of the initial results on April 23, 2015 and provided additional details therein.
The presentation was made by Dr. Louis Fradette, CO2 Solutions' Senior Vice-President, Process Engineering & Chief Technology Officer. The presentation is available at http://bit.ly/1Ep1CY0.
The detailed results presented establish CO2 Solutions' technology as a new economic benchmark for low-cost carbon capture. Highlights of the results presented include:
- A conservative cost estimate of approximately $39 per tonne of CO2 based on 90% CO2 capture from flue gases of a typical coal-fired power plant at full scale, including CO2 compression to 2250 psi. This surpasses the U.S. Department of Energy (DOE) target of $40/tonne by the year 2025 for new carbon capture processes.
- Approximately ten-times reduction in the parasitic load on the power plant through the use of low-grade, nil value heat from outside of the power plant's steam cycle compared to the reference amine case
- Stable performance of CO2 Solutions' proprietary 1T1 enzyme over the test period with no enzyme replacement.
- Constant CO2 capture performance over the test period with no solvent make up and no toxic waste products generated.
- Significantly reduced power plant retrofit costs as the use of low-grade heat greatly reduces the requirement for additional coal combustion to maintain the net output of the power plant.
"These results validate our work to date in proving our technology to have significant cost advantages over other solutions, enabling the efficient reduction and reuse of CO2 emissions from power generation and other industries", stated Dr. Fradette. "With these excellent results and our larger scale demonstration coming on line in the coming weeks we are well positioned for the commercialization of our technology later this year."
The results were based on testing of CO2 Solutions' enzyme-accelerated process, applied to flue gas from natural gas and coal combustion at a scale of approximately 1 tonne-CO2/day. Using CO2 Solutions' proprietary high-performance 1T1 enzyme, the programme represented the largest scale test to date of an enzyme-based CO2 capture process. It was also the first enzyme-based CO2 capture demonstration involving a complete configuration representative of industrial capture with flue gases, incorporating reduced pressure stripping and the enzyme employed in both absorption and stripping.
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; TMX Equicom, Marc Lakmaaker, 416-815-0700, ext. 248, [email protected]