CO2 Solutions Announces Extension of Agreement with Codexis

TSXV: CST         
Outstanding shares: 79,687,836

QUÉBEC CITY, May 21, 2013 /CNW/ - CO₂ 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 CO₂ Solutions' enzymatic carbon capture technology.

Under the amended and restated JDA, CO₂ 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. CO₂ Solutions' technology uses the natural enzyme, carbonic anhydrase, to enhance the efficiency of CO₂ 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 CO₂ Solutions' carbon capture projects.  Carbonic anhydrase is found in humans and other living organisms and is critical in the efficient management of CO₂ during respiration.

Commenting on the agreement, Evan Price, President and CEO of CO₂ Solutions remarked, "We are pleased to extend our agreement with Codexis.  With this continued collaboration, CO₂ 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 CO₂ 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 CO₂ Solutions Inc.

CO₂ 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.  CO₂ Solutions' technology lowers the cost barrier to Carbon Capture, Sequestration and Utilization (CCSU), positioning it as a viable CO₂ mitigation tool, as well as enabling industry to derive profitable new products from these emissions.  CO₂ 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 www.co2solutions.com.

CO₂ Solutions Forward-looking Statements

Certain statements in this news release may be forward-looking. These statements relate to future events or CO₂ 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. CO₂ 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 
[email protected]
www.co2solutions.com

Or

TMX Equicom
Adam Peeler
416-815-0700, ext. 225
[email protected]