CO2 Solutions Announces Partnership with Carbicrete in the NRG COSIA Carbon XPrize Competition
TSX-V: CST
QUEBEC CITY, Sept. 20, 2017 /PRNewswire/ - CO2 Solutions Inc. (or the "Corporation") (TSXV: CST) is pleased to announce that Carbicrete Inc. will partner with CO2 Solutions in the Carbon XPrize. This partnership constitutes a third entry for CO2 Solutions in this competition.
On October 17, 2016, the organizers of the competition announced that CO2 Solutions and Carbicrete had been selected to participate in the second round of the prestigious NRG COSIA Carbon XPrize. The Corporation has been authorized to partner with other semi-finalists offering a CO2 utilization technology only, and is the only provider of a CO2 capture technology in the Carbon XPrize to have publicly announced such synergistic partnerships. These combined entries will propose CO2 Solutions' carbon capture technology with the partner's CO2 utilization technology. The announced CO2 Solutions–Carbicrete entry is an example of such a combination. CO2 Solutions and Carbicrete would share equally any prize money that may be awarded to this joint entry.
Carbicrete has developed a technology that allows manufacturers to produce cement-free, carbon-negative concrete. Concrete is the world's most common building material, but the production of its main ingredient, cement, accounts for 5% of global CO2 emissions. For this reason, Carbicrete's cement-free concrete represents an effective greenhouse gas ("GHG") mitigation alternative to traditional concrete production.
About the NRG COSIA Carbon XPrize Competition
Few challenges are greater and more critical than ensuring access to clean, affordable and abundant energy. As the global energy supply remains primarily derived from fossil fuels – the leading contributor to climate change – the $20M NRG COSIA Carbon XPrize will challenge the world to reimagine what we can do with CO2 emissions by incentivizing and accelerating the development of technologies that convert CO2 from a liability into valuable products. For more information, visit: https://carbon.xprize.org/.
About Carbicrete
Carbicrete is a technology company that develops innovative, low-cost building solutions that contribute to the reduction of Greenhouse gas emissions. Carbicrete's patented technology allows manufactures to produce cement-free carbon-negative concrete with waste and CO2. Carbicrete works with construction professionals, retailers and Carbicrete licensed partners to realize its vision of a world built using cost-effective, carbon-negative construction materials. Further information can be found at: www.carbicrete.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 emissions. CO2 Solutions' technology lowers the cost barrier to Carbon Capture, Utilization and Sequestration (CCUS), 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.
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