Outstanding Shares: 100,494,626
QUEBEC CITY, March 20, 2015 /CNW/ - CO2 Solutions Inc. ("the Corporation") (TSX-V: CST), a leader in low-cost
carbon dioxide (CO2) capture, is pleased to announce that it has received a $400,000
commitment from Canada Economic Development for Quebec Regions (CED)
towards optimization of the Corporation's carbon capture process and
new enzyme production at industrial scale.
The Honourable Denis Lebel, Minister of Infrastructure, Communities and
Intergovernmental Affairs and Minister of the Economic Development
Agency of Canada for the Regions of Quebec, stated, "By investing in
the development by CO2 Solutions of an innovative process, our government is showing once again
that it is determined to take the measures needed to increase the
growth potential of our economy."
The CED assistance has been awarded in the form of a $400,000 repayable
financial contribution through CED's Quebec Economic Development
Program. Under the terms of the contribution agreement, CO2 Solutions will apply these funds toward the continued development of
specific elements of the Corporation's innovative carbon capture
process. CO2 Solutions will be required to refund the contribution over a period of
60 monthly payments with the first payment being due 36 months from the
project completion date. It is anticipated that the said project
related to this contribution will be completed by June 30, 2015.
Evan Price, President and CEO of CO2 Solutions, commented, "We are honoured and grateful for the
contribution from Canada Economic Development and the confidence it
shows in our carbon capture technology. Over the past few years we have
made a number of ground-breaking developments with our technology and
are confident of going to market with a technology that not only is the
low cost solution to reducing carbon emissions, but is a very
compelling offering for a number of commercial applications in which
potential customers are both emitters and consumers of CO2, such as enhanced oil recovery, greenhouse operations, beverage
carbonation, and others. The funds will be used towards the further
optimization of both our process and the production of our breakthrough
proprietary enzyme 1T1,"
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
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:
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418-842-3456, ext. 223
416-815-0700, ext. 248