Collaboration on Valorisation Carbone Québec project and industrial projects integrating CO2 Solutions' proprietary technology
QUEBEC CITY and MISSISSAUGA, ON, March 21, 2017 /PRNewswire/ - CO2 Solutions Inc. (TSXV: CST), the leader in the field of enzyme-enabled carbon capture technology, and Hatch Ltd. ("Hatch"), a global consulting and engineering firm specialized in the design and realization of major industrial engineering projects and services throughout the world, today jointly announced a collaborative agreement between the two companies.
Under the terms of the agreement, CO2 Solutions and Hatch will collaborate on delivering carbon capture systems integrating CO2 Solutions' low-cost, environmentally benign, enzymatic technology in large industrial environments. Within these projects, CO2 Solutions will license its proprietary technology and Hatch will provide its globally renowned engineering and project delivery expertise.
In conjunction with this agreement, Hatch announced that it is the provider of engineering services to the previously announced $15 million Valorisation Carbone Québec (VCQ) project. The objective of the VCQ project, which is being led by CO2 Solutions, is to demonstrate CO2 capture and beneficial reuse at large scale in an industrial facility, and to support the development of second generation reuse applications. This project will centre on CO2 Solutions enzymatic capture technology and draw on the most promising reuse applications and development efforts worldwide. Hatch will play a key role in enabling CO2 Solutions to reach the objectives of the VCQ project and in jointly delivering demonstrated capture and reuse solutions.
"This collaboration with Hatch will be central to the success of our Valorisation Carbone Québec Project and instrumental in building our commercial pipeline of opportunities on a global scale," stated Evan Price, President and Chief Executive Officer of CO2 Solutions. "By combining our technology with Hatch's expertise, we will be able to accelerate business development and deliver projects to the satisfaction of a broad and diverse customer base".
"At Hatch, we recognize that sustainability requires the optimization of environmental, social and economic outcomes and is at the core of how Hatch delivers value to our clients as a socially responsible company. This collaboration with CO2 Solutions supports the Hatch goal to plan, design and implement projects with our clients that focus on sustainable value creation," said Hatch's CEO, John Bianchini.
Whatever our clients envision, our engineers and planners can design and build. With over six decades of business and technical experience in the mining, energy, and infrastructure sectors, we know your business and understand that your challenges are changing rapidly. We respond quickly with solutions that are smarter, more efficient and innovative. We draw upon our 9,000 staff with experience in over 150 countries to challenge the status quo and create positive change for our clients, our employees, and the communities we serve. Further information can be found at www.hatch.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 operation 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.