CO2 Solutions Receives $3 Million Grant from Technoclimat Towards First Commercial Project

Thursday, December 15, 2016 11:15 am

CO2 Solutions Receives $3 Million Grant from Technoclimat Towards First Commercial Project | Resolute Forest Products, project, Canada, carbon,

QUEBEC CITY, QC (Press Release) -- CO2 Solutions Inc., the leader in the field of enzyme-enabled carbon capture technology, is pleased to confirm that, as announced today by the Quebec Énergie et Ressources naturelles Minister, Mr. Pierre Arcand, the Corporation has been selected by the Bureau de l'efficacité et de l'innovation énergétiques (Technoclimat) to receive $3 Million in the form of a non-refundable grant.

The Grant will be used towards the deployment of CO2 Solutions' technology for a carbon capture plant at the Fibrek General Partnership pulp mill, a subsidiary of Resolute Forest Products, in the Saint-Félicien region of Quebec (Canada). The captured CO2 will then be provided, on a commercial basis, to the adjacent, state-of-the-art vegetable greenhouse operated by Serres Toundra. The reuse of the captured CO2 will improve the greenhouse economics through increased yield, while at the same time achieving a net greenhouse gas reduction for the pulp mill. This grant, along with earlier secured and announced funds, completes the required project funding commitments. It is expected that the carbon capture plant will be in operation and generating revenues in 2018.

"With the funding complete, we can now advance towards realization of our first commercial project, deploying our breakthrough technology in the pulp and paper and greenhouse industry, where we see numerous additional opportunities," stated Evan Price, President and Chief Executive Officer of CO2 Solutions. "We are grateful to Technoclimat and the Québec government for their support of our technology. This plant, and others that will follow, will enable industry to cost-effectively reduce their CO2 footprint and help governments meet their Paris Agreement commitments on greenhouse gas (GHG) emission reductions."

*****

Join Jim Thompson on the 2nd Annual Papermakers Mission Trip to Guatemala, 22 - 29 July 17. Build houses, talk about the pulp and paper industry. For more information, email jthompson@taii.com with "Guatemala" in the subject line.