CO2 Solutions Receives $3 Million Grant from Technoclimat

Dec 16 2016

The company is to receive $3 Million in the form of a non-refundable grant to progress a carbon capture project in Canada.

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 SaintFélicien 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.”

The objective of the Technoclimat program is to reduce greenhouse gas emissions and promote the development of new technologies or innovative processes in energy efficiency or emerging energies. The programme offers financial support to project promoters at various stages of development.

CO2 Solutions

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Issue 62 - Mar - Apr 2018

CCS in the U.S.: Expanded tax credit could boost projects and start a CCS gold rush .. Moody’s: Coal will continue secular decline without CCS .. Capturing and using CO2 from ethanol STEMM-CCS: improving the safety of offshore CO2 storage .. Energy .....

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