CO2 Solution Announces Extension of Joint Development Agreement with Codexis
Outstanding shares: 60,261,136
QUEBEC CITY, Jan. 18 /PRNewswire-FirstCall/ – CO(2) Solution Inc. (TSX-V: CST) is pleased to announce that it has extended
the carbon capture Joint Development Agreement (“JDA”) with Codexis,
Inc. (NASDAQ: CDXS), originally announced December 15, 2009. Under
the JDA, Codexis and CO(2) Solution have collaborated on the development of customized carbonic
anhydrase (“CA”) biocatalysts and related processes to enable the
efficient capture of carbon dioxide from power plants and other large
stationary emissions sources.
Program results to date have shown that the combined CO(2) Solution / Codexis proprietary technologies have the potential to
significantly lower the capital and operating cost barriers associated
with conventional technologies to capture CO(2) from power plant effluent gases.
This progress led to CO(2) Solution and Codexis entering into an exclusive Collaboration Agreement
with a global leader in energy and infrastructure projects with over 5
billion dollars in annual sales, as announced on December 3(rd), 2010, covering the development and pilot scale testing of the
technology for coal-fired power plants, one of the largest global
sources of harmful greenhouse gas emissions.
CO(2) Solution’s proprietary enzymatic method for the efficient capture of
carbon dioxide from coal-fired power plants and other large sources of
emissions will continue to be combined, on an exclusive basis, with
Codexis’ directed enzyme evolution technology. The JDA will be extended
until the later of June 30, 2012, or six months after the expiry of any
Glenn Kelly, President & CEO of CO(2) Solution stated, “We are extremely pleased to continue to work with
Codexis towards the joint deployment of our technologies to address the
significant global opportunity for affordable clean energy from fossil
fuels. Given the rapid progress that our joint development effort has
achieved so far, notably our recent collaboration with a global leader
in energy infrastructure, we look forward to strong and continual
progress in 2011 and 2012.”
Codexis is a clean technology company. Codexis develops optimized
biocatalysts that make industrial processes faster, cleaner and more
efficient. Codexis technology is commercialized with leading global
pharmaceutical companies and in development for advanced biofuels with
Shell. Other potential markets include carbon capture, water treatment
and chemicals. For more information, see www.codexis.com.
About CO(2) Solution
Based in Quebec City, CO(2) Solution is an innovator in the field of enzyme enabled carbon capture
and has been actively working to develop and commercialize the
technology for power plants and other large stationary sources of
carbon pollution. In the process, CO(2) Solution has built an extensive patent portfolio covering the use of
carbonic anhydrase for the efficient post-combustion capture of carbon
dioxide with low-energy aqueous solvents. Further information can be
found at www.co2solution.com.
CO(2) Solution Forward Looking Statements
Certain statements in this news release may be forward-looking. These
statements relate to future events or CO(2) Solution’s 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) Solution 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 SOLUTION INC.