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QUEBEC CITY, Nov. 19, 2014 /CNW/ - CO2 Solutions Inc. (TSX-V: CST), the leader in the field of enzyme-enabled carbon capture technology, today announced the completion of the internal development of a new high-performance carbonic anhydrase enzyme.
In extensive bench testing, the new enzyme, named 1T1, has demonstrated longevity and catalytic performance significantly surpassing that of the best third-party enzymes used by CO2 Solutions to date. As such, 1T1 is expected to be the principal enzyme for the Corporation's carbon capture process going forward. Patent applications have been filed in relation to 1T1 and the use thereof.
"The development of 1T1 further improves the already compelling performance and cost advantages of our technology over other technologies available today," said Dr. Louis Fradette, Senior Vice-President, Process Engineering & Chief Technology Officer of CO2 Solutions. "To date, the large-scale adoption of CO2-driven enhanced oil recovery (EOR) has been held back by the limited availability of large volumes of low cost CO2. We believe that the benefits generated by using 1T1 in our process address this issue and increase the potential for these types of applications to become reality. It is a credit to the skills and dedication of the CO2 Solutions' R&D team, who have done extraordinary work in bringing the initial concept to reality in an exceptionally short time frame."
Relative to its peers, 1T1 has a longer lifespan in the CO2 capture process, and delivers greater stability in meeting the required specifications for CO2 capture efficiency. At the same time, initial manufacturing results suggest that the production cost per unit weight of enzyme protein are likely to be substantially less than that for the third-party enzymes used to date. At the enzyme concentration levels required to deliver optimal carbon capture, CO2 Solutions believes this should lead to significantly lower enzyme-related costs, further reducing operating expenses of the capture process.
The Corporation has outsourced production of 1T1 to a third party, and industrial-scale batches of 1T1 have been manufactured. With 1T1, CO2 Solutions can produce the enzyme through a number of potential contract manufacturers, while controlling the associated intellectual property.
"De-risking all the elements of our carbon capture technology as we move closer to commercialization is a priority for the Corporation", stated Evan Price, CO2 Solutions' CEO. "With 1T1, we now have full ownership over what is arguably the most crucial element in our technology, thus securing the supply chain. Further down the line, ownership of the enzyme has the potential of creating additional revenue opportunities by CO2 Solutions becoming a supplier of 1T1 to externally operated carbon capture facilities."
The new enzyme will be used in the upcoming tests at the University of North Dakota Energy & Environmental Research Center (EERC), scheduled for December.
1T1 was developed with the financial assistance of the Government of Canada's Industrial Research Assistance Program (IRAP). The Corporation acknowledges the important support of IRAP in the success of this project.
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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