QUEBEC CITY, Jan. 26, 2016 /CNW/ - CO2 Solutions Inc. (TSX-V: CST) (CO2 Solutions or the Corporation), the leader in the field of enzyme-enabled carbon capture technology, today announced the verified results of its demonstration project at Salaberry-de-Valleyfield ("Valleyfield"), near Montreal, Québec.
Further to the Corporation's press release of November 10, 2015, the demonstration project in Valleyfield operated successfully for a total of more than 2,500 hours. Among the highlights noted:
- The Corporation's proprietary enzyme, 1T1, performed in a stable manner;
- No toxic waste products were generated;
- Solvent consumption was negligible;
- The demonstration unit was in large part operated autonomously (i.e. did not require a dedicated operator);
- The technology produced CO2 suitable for food, beverages and other reuse applications;
- The use of low-grade, nil value heat for solvent regeneration at low-temperature was accomplished, demonstrating this innovative method of operating cost savings.
The Corporation contracted with Tetra Tech, Inc. (http://www.tetratech.com/), a leading international engineering firm, for an independent review of the project data related to the mass and energy balances. This review allowed the Corporation to confirm core process capture costs for a 1,250 tonne-CO2/day (tpd) scale of $28/tonne, in line with earlier published estimates. This cost is below the proposed Alberta carbon tax and below the United States Department of Energy's target for new carbon capture processes. In this regard, to the knowledge of the Corporation, its technology has achieved the lowest demonstrated cost in the industry for a post-combustion carbon capture application, by a significant margin.
"The completion of the project and the independent engineering review confirm the low cost and environmentally sustainable nature of our technology, both of which are key differentiators in our industry" stated Evan Price, President and CEO of CO2 Solutions. "We have now proven the robustness and operability of our technology in a real-life, industrial-scale setting, which puts applications for carbon mitigation and beneficial reuse of CO2 squarely in our sights. These results will now be used to move forward prospective customer and partner opportunities currently under discussion."
CO2 Solutions intends to present full results of its demonstration project at upcoming international conferences in the carbon capture field.
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 or NATIONAL Equicom: Marc Lakmaaker, 416-848-1397, [email protected]