QUEBEC CITY, April 15, 2014 /CNW/ - CO(2) Solutions Inc. (TSX-V:CST), an
innovator in the field of enzyme-enabled carbon capture technology, today
announced that it has entered into a Collaboration Agreement (the "Agreement")
with Husky Energy.
Under the terms of the Agreement, CO(2) Solutions will install and operate a
pilot unit capturing approximately 15 tonnes of CO(2) per day at Husky's Pikes
Peak South, Saskatchewan heavy oil site on a once-through steam generator.
Operation of the pilot unit is expected to commence in early 2015 with
completion of testing expected in the third quarter of 2015. Subject to a
positive review by Husky of the results of the pilot test, the Agreement
provides for Husky to consider the use of CO(2) Solutions' technology for
commercial carbon capture projects.
The project will be funded in part by the Government of Canada's ecoENERGY
Innovation Initiative (ecoEII) program, as previously announced on January 24,
"The pilot demonstration of our technology is a significant milestone towards
the commercial deployment of our technology for CO(2) capture and beneficial
utilization applications such as enhanced oil recovery," said Evan Price,
President and CEO of CO(2) Solutions. "Husky is a recognized leader in the
energy industry and will provide valuable expertise to this project."
"Through the ecoENERGY Innovation Initiative, our Government is investing in
projects that drive energy innovation, create jobs and generate new economic
opportunities that protect the environment," said the Honourable Greg
Rickford, Minister of Natural Resources and Minister for the Federal Economic
Development for Northern Ontario. "Today's announcement demonstrates that
these investments are successfully bringing innovative clean technologies from
concept to reality."
The pilot test is expected to confirm the positive techno-economics of CO(2)
Solutions' carbon capture process and will provide an operational basis to
compare the process against other new and conventional technologies in terms
of performance and cost. A successful project will pave the way for the CO(2
)Solutions technology to be applied broadly for cost-effective carbon
emissions mitigation in heavy oil and oil sands operations in Western Canada
and other industrial applications.
About CO(2) Solutions Inc.
CO(2) 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(2 )Solutions' technology lowers
the cost barrier to Carbon Capture, Sequestration and Utilization (CCSU),
positioning it as a viable CO(2) mitigation tool, as well as enabling industry
to derive profitable new products from these emissions. CO(2) 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(2) Solutions Forward-looking Statements
Certain statements in this news release may be forward-looking. These
statements relate to future events or CO(2) 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. CO(2) 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:
CO2 Solutions: Thom Skinner 418-842-3456, ext. 223
TMX Equicom Fil Marinkovic 416-815-0700, ext. 289 email@example.com
TMX Equicom Adam Peeler 416-815-0700, ext. 225 firstname.lastname@example.org
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-0- Apr/15/2014 11:00 GMT
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