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Green Markets: CO2 Solution Inks Carbon Capture Deal

December 7, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — CO2 Solution, Inc. (TSX Venture: CST) (OTC: COSLF) said that it has entered into an exclusive collaboration agreement covering the development and pilot scale testing of its carbon capture technology to reduce carbon dioxide pollution from coal-fired power plants.

According to CO2, the parties to the agreement include a firm involved in energy and infrastructure projects with over 5 billion dollars in annual sales, and Codexis, Inc., CO2 Solution's enzyme development and production partner.

Under the terms of the deal, CO2 Solution, Codexis and the company will collaborate over a period of up to 16 months on a pilot phase program to develop and test customized carbon capture enzymes and related processes for use in power plants to reduce greenhouse gas emissions.

The partnering company will fund research activities under the collaboration, which may be expanded to a long-term development and commercialization agreement if milestones are met and subject to negotiation of such an agreement between the parties.

CO2 said that the agreement is a result of a laboratory scale validation effort undertaken with the Company in the first half of 2010 which demonstrated that the enzyme technology has the potential to significantly increase the efficiency of certain carbon capture technologies for application to power plants.

CO2 Solution said it will receive up to US $3.4 million for its activities under the agreement.

Canada-based CO2 Solution is engaged in the field of enzyme enabled carbon capture and has been working to develop and commercialize the technology for power plants and other large stationary sources of carbon pollution. 

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