Company comments on patent portfolio in context of proposed U.S. EPA
QUEBEC CITY, June 5, 2014 /CNW/ - CO(2 )Solutions Inc. ( the "Corporation")
(TSX-V:CST), an innovator in the field of enzyme-enabled carbon capture
technology, today announced it has received a Notice of Allowance from the
U.S. Patent and Trademark Office for its patent application No. 13/264,294
entitled Process for CO(2) Capture Using Micro-Particles Comprising
Biocatalysts. The Corporation also takes this opportunity to provide an
update on the depth and breadth of its U.S. intellectual property portfolio in
context of the landmark announcement made this week by the U.S. Environmental
Protection Agency (EPA) on the regulation of carbon emissions from existing
Upon issuance, the patent will provide CO(2) Solutions with broad coverage for
the use of biocatalysts, including carbonic anhydrase enzymes, for carbon
capture in a packed reactor from any gas stream with any solvent where the
enzymes are attached to the surface of micro-particles or entrapped in porous
micro-particles. The Corporation believes the allowed patent constitutes a
valuable process innovation, which will allow for exclusive use of enzymes in
various industrial applications, with additional flexibility as to process
"We believe that with the allowance of this patent, combined with our already
very comprehensive intellectual property portfolio, the Company has covered
all viable routes to commercialization of carbonic anhydrase enzyme based
systems for the capture of CO(2)," stated Evan Price, President and Chief
Executive Officer of CO(2) Solutions.
Together with this patent allowance, CO(2) Solutions now holds 24 issued and
allowed U.S. patents, and an additional 6 pending patent applications. The
Corporation's patent portfolio provides broad exclusivity for the application
of any carbonic anhydrase enzyme for the efficient capture of CO(2) from any
stationary emissions source and production of concentrated CO(2) or
bicarbonate, which is then available for industrial utilization or storage.
Included is also specific patent coverage in the application of the technology
at fossil-fuel-fired power plants, using any solvent in any reactor type,
packed tower or otherwise, as well as the use of carbonic anhydrase in
combination with various solvents including carbonates and alkanolamines,
Proposed EPA legislation to drive market for CO(2) capture technologies
On June 2, 2014, the EPA released its Clean Power Plan, which proposes to
dramatically cut carbon pollution from power plants, the single largest source
of carbon pollution in the U.S. The plan foresees in the application of
various tools to bring about the desired reduction in CO(2) emissions,
including the use of remedial technologies such as carbon capture. The
Corporation believes its proprietary technology is among the most credible low
cost alternatives for carbon capture, as well as the economic reuse thereof.
According to the International Energy Agency GHG Program, as of 2011 there
were more than 1,000 fossil fuel power plants in the U.S., which generated
over 2.2 billion tonnes of CO(2) emissions.
Price continued, "With the EPA's proposed regulations for existing power
plants, we are witnessing a marked shift in attitude in the United States to
effectively regulate harmful carbon pollution. By enforcing concrete emission
reduction targets, the meeting of which we believe will depend to a large
extent on the use of remedial technologies, the new regulations have the
potential to substantially expand the market for carbon capture technologies.
Our enzymatic technology, backed by an extremely robust patent portfolio, is
positioned to provide a retrofitable solution for these power plants, where
their CO(2) emissions can be efficiently captured and sequestered, or
profitably reused for existing needs such as Enhanced Oil Recovery."
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 Adam Peeler 416-815-0700, ext. 225 email@example.com
Marc Lakmaaker (416) 815 0700 ext. 248 MLakmaaker@tmxequicom.com
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-0- Jun/05/2014 11:00 GMT
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