MONTREAL, Aug. 7 /CNW Telbec/ - CO2 Solution (TSX : CST-V) announces that
it has obtained a favourable advance tax ruling from le ministère du Revenu du
Québec (MRQ) for its Research & Development activities, entitling the company
to a refundable tax credit for precompetitive research in private
This anticipated decision follows the favourable opinion of le ministère
du Développement économique, de l'Innovation et de l'exportation (MDEIE) that
the partnership agreement between CO2 Solution and the American multinational,
The Babcock & Wilcox Company (B&W) constitutes a partnership contract within
the framework of a precompetitive research project.
This tax measure was implemented to incite companies to work in
partnership to carry out R & D projects. Expenses admissible for tax credits
will represent $3.5M and will be deductible until February 28, 2010.
On the other hand, Mrs Annik C. Brosseau, Vice President - Corporate
Affairs and Investor Relations will leave CO2 Solution on next August 23 to
pursue others personal interests. Following her departure, the different tasks
attached to her position will be reassigned within the organization.
About CO2 Solution
Headquartered in Quebec City, CO2 Solution's mission is to become the
leader in the conception, development, production and marketing of products
and services directed at the management and neutralization of carbon dioxide
and other greenhouse gases. CO2 Solution, which follows the principles of
sustainable development, has developed an innovative enzyme-based
technological platform that operates by biologically capturing and
transforming CO2 into an environmentally safe substance. CO2 Solution's
enzyme-based technology platform is an important contribution to global
efforts to fight climate change.
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For further information:
For further information: Jacques Raymond, President and Chief Executive
Officer, (418) 842-3456; Source: CO2 Solution