CO2 Solutions inc.
CO2 Solutions is addressing this challenge as the leader in the field of enzymatic CO2 capture. Our patented technology allows for the low-cost capture of CO2 from stationary emissions sources such as oil production operations, power and steam plants and metals production facilities, while leveraging existing solvent-based gas scrubbing approaches already known to industry. In turn, we are positioning CO2 capture and sequestration as a viable climate change mitigation tool as well as enabling industrial customers requiring CO2 to lower their acquisition costs for existing and new applications.
In 2012 and 2013, CO2 Solutions secured $5.2M in grant funding from the Government of Canada’s ecoENERGY Innovation Initiative and the Alberta Government’s Climate Change and Emissions Management Corporation (CCEMC) government funding towards a $7.5 million project to optimize and pilot the technology for CO2 capture from oil sands production. Subsequently CO2 Solutions announced that it had exceeded its technical performance targets for the project with a process energy cost reduction of at least one-third compared to conventional technology, and in April 2014 announced collaboration with Husky Energy for the hosting of a larger field pilot test as part of the project.
In 2014, CO2 Solutions completed the internal development of a new high-performance enzyme which demonstrated longevity and catalytic performance significantly surpassing that of the best third-party enzymes used by the Corporation to date. Subsequently, CO2 Solutions tested its technology at the University of North Dakota Energy & Environmental Research Center (EERC) at initial pilot scale using natural gas and coal flue gas. The results showed strong potential to provide for a cost of CO2 capture of less than U.S. $40 per metric tonne, significantly below the cost of conventional technology while generating no waste products .
In May, 2015, CO2 Solutions completed the construction of its larger 10 tonne-CO2/day capture field demonstration unit. Operating in in Salaberry-de-Valleyfield, Quebec, a total of 2500 hours of testing operations is planned which is expected to confirm the favourable economics and environmental friendliness of the process for commercial power and steam plant application.
In June, 2015, the Corporation entered into a collaboration agreement with GasTran Systems (GTS), a leading provider of high-intensity gas-liquid rotating packed bed (RPB) mass transfer technology to bring to market an advanced carbon capture solution. The synergy observed between the CO2 Solutions and GTS technologies show the potential to significantly reduce the size of the CO2 capture equipment, in turn reducing capital costs as well as increasing the applicability of CO2 capture at many emitter locations which are space constrained.
As of March, 2015, CO2 Solutions' intellectual property estate consisted of 47 issued and 39 pending patents broadly covering the use of related to the use of CA for efficient carbon capture