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QUEBEC CITY, Sept. 30, 2014 /CNW/ - CO2 Solutions Inc. (TSX-V: CST), the leader in the field of enzyme-enabled carbon capture technology, today provides an update on progress of its pilot project with Husky Energy for the capture of CO2 in the oil industry.
As announced in April 2014, CO2 Solutions entered into a Collaboration Agreement with Husky Energy to install and operate a pilot unit at Husky's Pikes Peak South heavy oil site in Saskatchewan. To accommodate operating parameters within the project budget, the facility will now be sized to capture up to 10 tonnes of CO2 per day. The project is funded in part by the Government of Canada's ecoENERGY Innovation Initiative (ecoEII) program, as previously announced on January 24, 2013.
In line with its earlier communicated schedule, CO2 Solutions has now completed the design review and detailed engineering phase for the pilot installation in collaboration with Montreal-based consulting engineering firm Seneca. A rendering of the pilot plant can be viewed at www.co2solutions.com/uploads/file/Husky_Carbon_Capture_Pilot_Plant.pdf. Procurement has started and construction is planned to be completed in early calendar Q1 2015, with commissioning of the pilot plant also scheduled for calendar Q1 2015. Operation of the pilot unit is expected to conclude in calendar Q3 of 2015 which would represent over 2,500 hours of field operation of the technology.
"We are progressing well and according to plan with this key project towards the commercialization of our technology," said Evan Price, President and CEO of CO2 Solutions. "Seneca is a first-class engineering firm with proven track record at building pilot units, and we are pleased to have them as a member of our team. Successful completion of the project will significantly enhance our position towards becoming a key low-cost provider of CO2, and will allow us to pursue the many opportunities we have identified for the commercial application of our technology, such as in Enhanced Oil Recovery."
In April of 2014, the Company announced it had exceeded the second set of technical performance milestones in large bench-scale testing, validating the technology's ability to realistically lower the cost of CO2 capture to significantly below that associated with current carbon capture technologies.
Seneca is a, Montreal-based private consulting engineering company, active in the highly specialized field of industrial processes, supporting Canadian and international industrial corporations by providing professional services for capital investment projects, the introduction of new technology, and technological innovation projects. Further information can be found at www.seneca.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.
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