CO2 Solution Announces Significant Technical Results

CO2 Solution's enzyme-based technology shows potential to reduce size of carbon capture equipment by more than 90% and achieve substantial reduction in process energy consumption

    
    TSX-V: CST
    Outstanding shares: 60,261,136
    

QUEBEC CITY, June 23 /CNW Telbec/ - CO2 Solution Inc. ("CO2 Solution" or the "Company") is pleased to announce that it has achieved significant technical results towards validating the impact of its enzymatic process on reducing the cost of carbon capture at commercial scale. In conjunction with its consultant, Procede Group B.V., lab scale testing and process modelling demonstrated the potential to reduce the size of CO2 absorber columns at coal-fired power plants by more than 90% when the enzymatic technology was used with MDEA, as opposed to pure MDEA. MDEA is a widely used solvent for natural gas treating, but is generally regarded as too kinetically limited for CO2 capture from power plant flue gas and other low-pressure gas effluent streams. By employing the enzyme, the rate of CO2 absorption in MDEA was increased more than 10 fold, reducing the height of the modelled CO2 absorption column from more than 200 meters to approximately 20 meters. Additionally, by taking advantage of the low-energy properties of MDEA, solvent regeneration and process energy consumption is predicted to be reduced by approximately 30% compared to the current industry standard monethanolamine (MEA) process.

These results point to a significant reduction in capital and operating costs of commercial scale carbon capture at typical coal-fired power plants or other large emitters, while utilizing a widely available commercial solvent. The use of the enzyme also holds a distinct advantage in that its use is energy-neutral to the process, as opposed to chemical CO2 absorption promoters, such as piperazine or primary amines, which increase the energy required for subsequent CO2 stripping. Furthermore, the process benefits from the favourable properties of MDEA for application to CO2 capture from flue gas including lower corrosiveness and volatility. The results also point to favourable economics of the process in that relatively small quantities of the enzyme catalyst are necessary to achieve the desired rate increase.

CO2 Solution is developing this technology in collaboration with Codexis, Inc. The process is expected to benefit further from advanced, low cost carbonic anhydrases developed by Codexis which provide for enhanced stability and catalytic activity in industrial carbon capture solvents at the elevated temperatures typical of commercial operations.

The lab testing and process simulation work was carried out by Procede Group, led by Dr. Geert Versteeg. Commenting on the results, Dr. Versteeg said: "What we see with CO2 Solution's technology is a breakthrough for the economic capture of carbon dioxide at large scale. This is because the enzyme is an extremely efficient catalyst that enables the use of MDEA and other low-energy solvents for flue gas applications, something that was economically unattainable to date because of the low reactivity of these solvents. This technology has the potential to transform how the industry looks at solvent-based systems for carbon capture and storage from power plants and other large sources of CO2 emissions".

Also commenting on the results, Glenn Kelly, CO2 Solution's President and CEO remarked: "Achievement of these positive results mark another milestone towards the commercialization of our technology in terms of validating its potential to enable significant cost reductions. Given Procede Group's preeminent expertise in gas scrubbing science and applications, we believe this track record supports the validity of the analysis and that the analysis is conducive to advancing process development and scale-up."

About CO2 Solution

Based in Quebec City, CO2 Solution Inc. has developed a proprietary bio-technological platform for the efficient capture of carbon dioxide (CO2), the most important greenhouse gas (GHG), from power plants and other large stationary sources of emissions. The Company's technology platform exploits the natural power of a bio-catalyst (enzyme), carbonic anhydrase, which functions within humans and other mammals to manage CO2 during respiration. CO2 Solution has successfully adapted the enzyme to function within an industrial environment, and thus has taken advantage of a biomimetic approach to CO2 capture based on millions of years of evolution. The Company is commercializing its technology for coal fired power generation, the oil sands and other CO2-intensive industries where a low-cost capture solution is key to meeting climate change legislation in a cost effective manner.

CO2 Solution's technology platform is protected by several North American and European patents, including the use of carbonic anhydrase for CO2 capture and release in a packed column system. News releases and additional information can be found at www.co2solution.com

Forward-looking Statements

Certain statements in this news release may be forward-looking. These statements relate to future events or CO2 Solution's 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 Solution 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.

For further information: CO2 Solution Inc.: Helene Savoie, 418 842-3456, ext. 206, [email protected]; www.co2solution.com