CO2 Solutions Announces Extension of Agreement with Codexis
Outstanding shares: 79,687,836
QUEBEC CITY, May 21, 2013 /PRNewswire/ – CO(2) Solutions Inc. (TSXV: CST) is pleased to announce that it has renewed
until March 31, 2015 its Joint Development Agreement (JDA) with
Codexis, Inc. (“Codexis”) to continue the development and deployment of
CO(2) Solutions’ enzymatic carbon capture technology.
Under the amended and restated JDA, CO(2) Solutions’ proprietary enzymatic method for the efficient capture of
carbon dioxide from power plants, oil production operations and other
large sources of emissions will continue to benefit from Codexis’
directed enzyme evolution technology and enzyme production
capabilities. CO(2) Solutions’ technology uses the natural enzyme, carbonic anhydrase, to
enhance the efficiency of CO(2) capture from industrial emission sources, at lower cost than
conventional carbon capture technology. Codexis’ technology has
dramatically improved this enzyme’s ability to function in harsh
industrial conditions. Carbonic anhydrase provided by Codexis is now
suitable for pilot and demonstration testing in CO(2 )Solutions’ carbon capture projects. Carbonic anhydrase is found in
humans and other living organisms and is critical in the efficient
management of CO(2) during respiration.
Commenting on the agreement, Evan Price, President and CEO of CO(2) Solutions remarked, “We are pleased to extend our agreement with
Codexis. With this continued collaboration, CO(2) Solutions intends to continue to capitalize on the opportunities that
it affords to help bring this technology to the North American and
global markets and provide a solution for the efficient, large scale
mitigation of greenhouse gas emissions, including CO(2) Solutions’ recently announced project in the Alberta oil sands.”
About Codexis Inc.
Codexis, Inc. engineers enzymes for pharmaceutical, biofuel and chemical
production. Codexis’ proven technology enables scale-up and
implementation of biocatalytic solutions to meet customer needs for
rapid, cost-effective and sustainable process development – from
research to manufacturing. For more information, see www.codexis.com
About CO(2) Solutions Inc.
CO(2) 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. CO(2) Solutions’ technology lowers the cost barrier to Carbon Capture,
Sequestration and Utilization (CCSU), positioning it as a viable CO(2) mitigation tool, as well as enabling industry to derive profitable new
products from these emissions. CO(2) 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.
CO(2) Solutions Forward-looking Statements
Certain statements in this news release may be forward-looking. These
statements relate to future events or CO(2) 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 operations
described herein. CO(2) 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
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.