Akermin, Inc. Receives $3 Million Cooperative Agreement from the U.S. Department of Energy
ST. LOUIS, Oct. 21, 2013 /PRNewswire/ -- Akermin, Inc., a St. Louis company developing novel biocatalytic solutions for cost-effective removal of carbon dioxide (CO2) from industrial gas streams, announced today that it has received a $3 million cooperative agreement to support development of the technology for post-combustion CO2 removal from power plants. The work under this program will build off of Akermin's current field pilot that has now accrued over 2,800 hours of operation, consistently capturing over 80% CO2, with no degradation in performance and no biocatalyst replenishment. This successful demonstration at the National Carbon Capture Center in Wilsonville, AL was also made possible through a cooperative agreement from the Department of Energy's National Energy Technology Laboratory (NETL) in Pittsburgh, PA.
The new funding will be used to develop and test Akermin's second generation approach using a simple and cost-effective design enabled by its proprietary Biocatalyst Delivery System. The goal is to demonstrate that the approach can be applied to capture CO2 using less energy, in a process that has lower capital and operating costs. The development target is to capture CO2 from large industrial processes at a cost that will economically enable various CO2 utilization options, including Enhanced Oil Recovery. The work under this cooperative agreement will focus on post-combustion CO2 capture from fossil-fueled power plants. Akermin's technology can also be applied to cost-effectively capture CO2 from the exhaust gas of other industrial processes.
"We are thankful and encouraged by this validation of our work," said Akermin President & CEO, Barry Blackwell. "These awards, along with continued financial support of our venture capital, corporate, and angel investor communities, along with that of NETL, are all critically necessary for Akermin to develop and demonstrate our innovative biocatalyst solution."
About Akermin, Inc.:
Akermin is a cleantech technology development company located at BRDG Park at the Danforth Plant Science Center in St. Louis, MO. Akermin's multi-disciplined approach integrates enzymes within a proprietary Biocatalyst Delivery System that can be incorporated into conventional processes for energy efficient, green CO2 management solutions in various industrial processes. To learn more, visit www.akermin.com.
SOURCE Akermin, Inc.