CO2 Solution Names Thom Skinner Chief Financial Officer

Mar 16, 2011, 10:18 ET from CO2 SOLUTION INC.

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

QUEBEC CITY, March 16 /PRNewswire-FirstCall/ - CO2 Solution Inc. (TSX-V:  CST) is pleased to announce that it has appointed Mr. Thom Skinner, CA as Senior Vice President Finance & Chief Financial Officer. Reporting to Glenn Kelly, President and CEO, Mr. Skinner will be responsible for financial, accounting and information technology operations as well as the Company's investor relations activities. Linda Parent, who acted as Vice President Finance and Administration, will remain within the company with other responsibilities and to ensure continuity of the ongoing files as well as the transfer of financial information.

A recognized business leader and career financial executive, Mr. Skinner's professional experience spans more than thirty years and includes senior financial executive roles in the financial services, manufacturing, pharmaceutical, life sciences and biotech sectors including extensive mergers and acquisition and capital raising work. Mr. Skinner joins CO2 Solution from TS Business Solutions, a Quebec-based business consultancy which he founded in 2001 where he provided corporate financial and administrative services to a range of public and private companies. In this capacity, he was Chief Financial Officer of DiagnoCure Inc., a Quebec-based biotechnology company where he managed the company's successful financial turnaround and secured more than $25 million in new financing on the Toronto Stock Exchange (TSX). He also served as Interim Vice President (finance and information technology) of Sanofi /Aventis Canada, a leading pharmaceutical company, where he also successfully managed the integration of the 1,500 employee Canadian portion of the Sanofi and Aventis merger. More recently, he acted as Principal Advisor to the Chairman of Groupe Biscuits Leclerc Inc., a major Quebec-based agri-foods company.

Prior to TS Business Solutions, Mr. Skinner held a number of senior management positions in Canada and Europe including Executive Vice President and Chief Financial Officer of MediSolution Ltd., Vice President, Finance and Administration of McKesson Canada Corp., Vice President, Finance and Administration and Chief Financial Officer of the Business Development Bank of Canada and Vice President of Sunlife Financial Services. 

Born in New York, NY, Mr. Skinner holds US and Canadian citizenships. He is a member of several professional associations in Canada and has served on several Boards of Directors including a term as Chairman of The Montreal Children's Hospital. He is currently a member of the Board of Directors of the Foundation Robert-Giffard. Mr. Skinner holds a Bachelor of Commerce degree from the University of Montreal and a Graduate Diploma in Public Accounting from McGill University.

Commenting on the appointment, Glenn Kelly, CO2 Solution's President and CEO remarked, "We are delighted that Thom has joined CO2 Solution. His experience and track record with some of Canada's leading growth companies and international capital markets expertise will be invaluable as we are rapidly expanding our operations and investor relations efforts in line with recently announced technology scale-up activities."

Mr. Skinner added, "I am extremely pleased and excited to be joining the CO2 Solution team at such an important juncture in the Company's development. Recently announced technology scale-up activities and concluded collaboration agreements at CO2 Solution have certainly set the company on a potentially exciting path toward the advancement of their carbon capture technology and its commercialization. The need for such a technology to address sources of carbon pollution is urgent and the potential market is truly large. CO2 Solution's efficient and low cost technology is a great success story in the making and I am looking forward to being part of its realization." 

As part of his remuneration package, Mr. Skinner was granted 450,000 options to purchase CO2 Solution shares at a price of $0.17.

About CO2 Solution

Based in Quebec City, CO2 Solution is an innovator in the field of enzyme enabled carbon capture and has been actively working to develop and commercialize the technology for power plants and other large stationary sources of carbon pollution. In the process, CO2 Solution has built an extensive patent portfolio covering the use of carbonic anhydrase for the efficient post‐combustion capture of carbon dioxide with low‐energy aqueous solvents. Further 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.


SOURCE CO2 SOLUTION INC.