Two entries accepted as finalists for Round 3
Quebec City, April 9, 2018
– CO₂ Solutions Inc. (or the “Corporation”) (TSX-V: CST) is pleased to announce that two of its entries have successfully passed round 2 of the NRG COSIA Carbon XPRIZE and have been accepted among the ten round 3 finalists.
NRG COSIA Carbon XPRIZE officially unveiled today the winning entries of round 2. Among those are Carbicrete of Montreal (QC) and CERT of Toronto (ON), with whom the Corporation announced joint entry partnerships earlier in 2017. These entries combined CO₂ Solutions’ carbon capture technology with the respective partner’s CO₂ utilization technology.
“Advancing to the XPRIZE finals is a proud moment for Carbicrete,” says Chris Stern, Carbicrete’s CEO. “CO₂ Solutions’ environmentally friendly carbon capture method is very much in line with the spirit of XPRIZE and was a perfect fit for our process for making cement-free, carbon-negative concrete.”
“CERT is thrilled to be moving into the final round of the NRG COSIA Carbon XPRIZE competition. Our partnership with CO₂ Solutions has been crucial for capturing CO₂ that feeds our electrocatalytic process to produce chemical building blocks. It is very exciting to see the fast pace of innovation in the carbon capture and utilization space. We look forward to working together in the next round!” Stated Ted Sargent, Professor, Electrical and Computer Engineering and Team Leader of CERT.
CO₂ Solutions and these named partners will equally share the sum of $500,000 US in prize money awarded to each of the winning entries for a total of $500,000 US for the Corporation.
Evan Price, CO₂ Solutions’ President and Chief Executive Officer, stated, “We congratulate all round 3 finalists including our partners CERT and Carbicrete. In a very stiff competition, coming out on top as two of the ten chosen finalists in the NRG COSIA Carbon XPRIZE is a further recognition of the strength of our carbon capture technology and our partners’ CO₂ utilization technologies. We look forward to further collaboration with companies providing CO₂ utilization technologies in round 3.”
It is expected that round 3 results will be known in March 2020. The criterion for round 3 is to successfully demonstrate the capture and utilization of CO₂ at a minimal capacity of 2 tonnes-CO₂ per day, which is a milestone that CO₂ Solutions already surpassed in its Valleyfield pilot in 2015.
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 www.carbon.xprize.org
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, Utilization and Sequestration (CCUS), positioning it as a viable CO₂ mitigation tool, as well as enabling the 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
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