CO2 Solutions and Neumann Systems Group Achieve Breakthrough Carbon Capture Results; Pilot Project Now to Take Place This Year
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COLORADO SPRINGS, CO and QUEBEC CITY, July 14, 2014 /PRNewswire/ – CO(2) Solutions Inc. (“CO(2) Solutions“) (TSX-V: CST), the leading innovator in the field of enzyme-enabled
carbon capture technology, and Neumann Systems Group, Inc. (“NSG”), an
established emissions control solutions provider, today provide an
update on the technical progress towards establishing a commercial
ultra-low cost carbon dioxide (CO(2)) capture and reuse solution.
As announced on June 14, 2014, the companies signed a collaboration
agreement to demonstrate a combination of their two proprietary
technologies at pilot scale for the capture of CO(2) from industrial effluent gases. Initial testing has demonstrated the
compatibility and synergy resulting from the use of CO(2) Solutions’ enzyme-based technology with NSG`s NeuStream® compact and
highly efficient absorber and stripper systems.
In more recent tests, the enzyme-based solvent operating in the
NeuStream® system achieved CO(2) capture efficiency comparable to some of the better amines. This
kinetic performance when combined with the energy-efficient properties
of the enzyme-based process, is expected to deliver substantially lower
operating costs relative to the best amine-based CO(2) capture systems. The enzyme-based solvent is also more environmentally
sustainable compared to conventional amines by eliminating carcinogenic
aerosols and other amine related pollutants. Additionally, through
significantly reduced equipment sizing, the NeuStream® system provides
low capital costs and a much smaller system footprint.
Because of these excellent results, CO(2) Solutions and NSG have decided to accelerate preparations for the
previously announced operation of a pilot facility in Colorado Springs
to capture approximately 10 tonnes of CO(2) per day. The pilot, originally expected to take place in April 2015
will now commence in October 2014.
Dave Neumann, President & CEO of NSG, stated, “”These results
demonstrate how our two technologies complement each other and can
deliver a truly low cost solution for CO(2) capture and regeneration systems. Because of this, we have decided to
accelerate our previously announced pilot project.”"
Evan Price, President & CEO of CO(2) Solutions, added, “We see a number of very significant business
opportunities for CO(2) capture and regeneration, such as Enhanced Oil Recovery, that we intend
to pursue jointly with NSG once the pilot demonstration of the combined
solution has been successfully concluded. Advancing the pilot start
date by six months brings us even closer to providing our technology to
these promising markets.”
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.
About Neumann Systems Group, Inc.
Neumann Systems Group (NSG) designs and builds emissions control systems
for power plants and other industrial applications. NSG’s principal
product line, NeuStream®, is a suite of emissions control systems that
removes harmful pollutants from emissions sources like coal-fired power
plants and industrial sources that contribute to ozone, acid rain,
respiratory diseases and climate change. The NeuStream® systems are
based on an advanced gas-liquid contacting device invented, developed
and manufactured by NSG. Founded in 1997, NSG has been consistently
profitable in its operations. Further information can be found at www.neumannsystemsgroup.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 operation
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.