QUEBEC CITY, June 8, 2016 /CNW/ - CO2 Solutions Inc. (the "Corporation") (TSX-V: CST), the leader in low-cost carbon dioxide (CO2) capture announced today the Company will present the detailed findings of its successfully completed 10 tonnes per day (tpd) carbon capture demonstration project at the 2016 Carbon Capture, Utilization & Storage (CCUS) conference in Tysons, VA, June 14-16, 2016. This conference is the premier gathering of key decision makers and technical experts in the commercialization of CCUS/CCS systems.
Over the summer of 2015, CO2 Solutions ran its 10 tpd carbon capture demonstration unit successfully for over 2,500 hours, mostly with autonomous operation (no operators required on-site). The mass and energy balance data from the project, verified by a leading international engineering firm, Tetra Tech Inc., ultimately validated the Corporation's claims in relation to the low-cost nature of its technology, showing that CO2 Solutions' packed tower process configuration, when applied at large scale, would reduce the cost of carbon capture to below $40 per tonne (including compression) and below $30 per tonne (without compression). These numbers, as announced in 2015, are 10 years ahead of the U.S. Department of Energy's cost target for 2025 of $40 (including compression).
Louis Fradette, Eng., PhD, the Corporation's Chief Technology Officer, will present the detailed findings to an audience of industry insiders, including potential partners and customers. Further information on the event can be found at: http://www.exchangemonitor.com/events/carbon-capture/.
"Confirming the robustness and low cost nature of our technology has been a key milestone and resulted in considerable traction with potential commercial partners and various governments," stated Evan Price, Chief Executive Officer of CO2 Solutions. "These results and their third-party validation have enabled us to step up our commercialization efforts and consequently we are engaged in a growing number of discussions for the application of our technology in North America and internationally."
Dr. Fradette added, "The successful validation of the technical, operational and cost aspects of the technology has increased our visibility and standing within the industry. This event is one of the most important opportunities throughout the year to engage with a large and varied audience of prospective partners and customers. The data we will be presenting will clearly show that our proprietary solution offers benefits beyond what is available on the market today. This data forms the input for the detailed engineering and costing of commercial units, and we look forward to sharing this information with a growing audience."
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; NATIONAL Equicom, Marc Lakmaaker, 416-848-1397, [email protected]