CO2 Solutions Announces Extension of Agreement with Codexis
QUÉBEC CITY, May 21, 2013
Outstanding shares: 79,687,836
QUÉBEC CITY, May 21, 2013 /PRNewswire/ - CO Solutions Inc. (TSXV: CST) is
pleased to announce that it has renewed until March 31, 2015 its Joint
Development Agreement (JDA) with Codexis, Inc. ("Codexis") to continue the
development and deployment of CO Solutions' enzymatic carbon capture
Under the amended and restated JDA, CO Solutions' proprietary enzymatic
method for the efficient capture of carbon dioxide from power plants, oil
production operations and other large sources of emissions will continue to
benefit from Codexis' directed enzyme evolution technology and enzyme
production capabilities. CO Solutions' technology uses the natural enzyme,
carbonic anhydrase, to enhance the efficiency of CO capture from industrial
emission sources, at lower cost than conventional carbon capture technology.
Codexis' technology has dramatically improved this enzyme's ability to
function in harsh industrial conditions. Carbonic anhydrase provided by
Codexis is now suitable for pilot and demonstration testing in CO[2
]Solutions' carbon capture projects. Carbonic anhydrase is found in humans
and other living organisms and is critical in the efficient management of
CO during respiration.
Commenting on the agreement, Evan Price, President and CEO of CO Solutions
remarked, "We are pleased to extend our agreement with Codexis. With this
continued collaboration, CO Solutions intends to continue to capitalize on
the opportunities that it affords to help bring this technology to the North
American and global markets and provide a solution for the efficient,
large‐scale mitigation of greenhouse gas emissions, including CO Solutions'
recently announced project in the Alberta oil sands."
About Codexis Inc.
Codexis, Inc. engineers enzymes for pharmaceutical, biofuel and chemical
production. Codexis' proven technology enables scale-up and implementation of
biocatalytic solutions to meet customer needs for rapid, cost-effective and
sustainable process development - from research to manufacturing. For more
information, see www.codexis.com
About CO Solutions Inc.
CO 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. CO Solutions' technology lowers
the cost barrier to Carbon Capture, Sequestration and Utilization (CCSU),
positioning it as a viable CO mitigation tool, as well as enabling industry
to derive profitable new products from these emissions. CO 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
CO Solutions Forward-looking Statements
Certain statements in this news release may be forward-looking. These
statements relate to future events or CO 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 operations described herein. CO 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.
Investor Relations and Media Contact:
418-842-3456, ext. 223
416-815-0700, ext. 225
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