CO2 Solutions Announces Extension of Agreement with Codexis
Outstanding shares: 79,687,836
QUÉBEC CITY, May 21, 2013 /PRNewswire/ - 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.