Quebec City, December 1, 2017 – CO₂ Solutions Inc. (or the “Corporation”) (TSX-V: CST) and TerraCOH, Inc. (or TerraCOH), a privately held company located in Minneapolis, Minnesota, are pleased to announce that both parties will partner in the NRG COSIA Carbon XPRIZE competition.
On October 17, 2016, the organizers of the competition announced that CO₂ Solutions and TerraCOH had been selected to participate in the second round of the prestigious NRG COSIA Carbon XPRIZE. CO₂ Solutions has been authorized to partner with other semi-finalists offering a CO₂ utilization technology and is the only provider of a CO₂ capture technology in the Carbon XPRIZE to have publicly announced such synergistic partnerships. TerraCOH and CO₂ Solutions will propose the CO₂ Solutions carbon capture technology with the TerraCOH’s CO₂ utilization technology, the Earth Battery™. CO₂ Solutions and TerraCOH would share equally any prize money that maybe awarded to this joint entry.
For the NRG COSIA Carbon XPRIZE competition, TerraCOH is introducing to the market their Earth Battery™ technology, which is the first to use CO₂ as a geologic working fluid for geologic energy storage. The Earth Battery™ delivers a high efficiency, affordable, small to grid-scale energy storage platform, while making use of vast quantities of CO₂.
John P. Griffin, the CEO of TerraCOH, stated “CO₂ emissions are a global problem, which requires an innovative approach that can scale to the size of this problem. TerraCOH looks forward to working with CO₂ Solutions in the second round of the Carbon XPRIZE competition; jointly creating a solution that capable of uniquely consuming vast quantities of CO₂ while storing the CO₂ safely and securely below ground. Later, the Earth Battery™ can deliver power that can be dispatched on demand to serve various power requirements.”
Dr. Louis Fradette, the Director, Valorisation Carbone Quebec, stated “CO₂ Solutions innovative enzyme-enabled carbon capture technology is ideal to economically capture large quantities of CO₂ cost effectively and deliver this CO₂ to TerraCOH’s novel Earth Battery™ solution. The scale of TerraCOH and CO₂ Solutions joint approach has the potential of making a significant impact on the CO₂ emission challenge of the Carbon XPRIZE competition and the world.”
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://www.xprize.org/
About TerraCOH, Inc.
TerraCOH, Inc. is a geothermal energy company based in Minneapolis, MN. TerraCOH’s mission is to deliver its Earth Battery and CO₂ Plume Geothermal (CPG™) technologies to provide emission-free, baseload (24/7) electricity and grid-scale energy storage, at the lowest cost of all alternatives, while storing CO₂ permanently underground. For more information, visit: www.terracoh-age.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.
Investor Relations and Media Contact:
Heidi Christensen Brown
John P. Griffin
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.