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Carbon Sciences Targets Near Term Multi-Billion Dollar Market for Its CO2 Transformation Technology
Company's Clean Tech Process to Transform CO2 Into a High Value Chemical Compound Used in the Production of Paper, Pharmaceuticals and Plastics
| Source: Carbon Sciences Inc.
SANTA BARBARA, CA--(Marketwire - May 12, 2008) - Carbon Sciences, Inc. (OTCBB : CABN ), the
developer of a breakthrough technology to transform harmful carbon dioxide
(CO2) into high value, earth-friendly products, today announced its first
application targeting a near term multi-billion dollar global market.
This initial application of the Company's technology is a process that will
transform CO2 into a high value chemical compound, currently used in the
manufacture of paper, pharmaceuticals and plastics. Unlike existing
methods of production, Carbon Sciences' clean tech process will be carbon
neutral, use less energy and result in a lower cost product.
The demand for this high value chemical compound (Precipitated Calcium
Carbonate or "PCC") is projected to grow to 10 million tons by 2010, due to
increased global paper consumption and construction in Asian countries. Of
the forecasted total, approximately 70% of the PCC produced is expected to
be used by the paper industry as brightness coating and filler.
The Company's management believes that energy and CO2 intensive industries,
such as paper production, will welcome this innovative clean technology
because it offers two very important benefits -- lower cost and carbon
neutrality. For example, a paper mill with an integrated PCC plant, based
on the Company's proprietary technology, will be able to transform its own
CO2 emissions into PCC for immediate use in paper production -- thereby
decreasing cost and CO2 emissions.
Commenting on Carbon Sciences' go-to-market strategy, Derek McLeish, the
Company's CEO, said, "We are excited that the PCC market provides us with a
lucrative near term opportunity. While the massive market for CO2
mitigation in coal-fired power plants may be years away, the multi-billion
dollar PCC market is here and now."
Mr. McLeish further stated, "According to the International Energy Agency,
the CO2 mitigation technology market is projected to reach $400 billion by
2030. In April 2008, for the first time in history, President Bush
unveiled a climate change proposal suggesting that the U.S. would accept
binding cuts on CO2 emissions and calling for a peak by 2023, starting with
the power generation industry. We believe that by focusing our efforts on
the existing multi-billion dollar PCC industry, we will be well-positioned
to be a major player in the even larger $400 billion CO2 mitigation market
in the future. This strategy is in line with our corporate mission of
enabling a carbon neutral world by transforming CO2 into high value
products, one industry at a time."
About Carbon Sciences, Inc.
Carbon Sciences, Inc. is developing a breakthrough technology to transform
harmful carbon dioxide (CO2) emissions from human created sources, such as
power plants and industrial factories, into high value, earth-friendly
products. The initial application of our patent-pending technology is
targeted at a multi-billion dollar market. We are developing a proprietary
process to transform CO2 emissions into a high value chemical compound,
currently used in the production of paper, pharmaceuticals and plastics.
Unlike existing methods of production, our process will be carbon neutral,
use less energy and result in a lower cost product. To learn more about
Carbon Sciences, please visit our website at http://www.carbonsciences.com.
Safe Harbor Statement
Matters discussed in this press release contain statements that look
forward within the meaning of the Private Securities Litigation Reform Act
of 1995. When used in this press release, the words "anticipate,"
"believe," "estimate," "may," "intend," "expect" and similar expressions
identify such statements that look forward. Actual results, performance or
achievements could differ materially from those contemplated, expressed or
implied by the statements that look forward contained herein, and while
expected, there is no guarantee that we will attain the aforementioned
anticipated developmental milestones. These statements that look forward
are based largely on the expectations of the Company and are subject to a
number of risks and uncertainties. These include, but are not limited to,
risks and uncertainties associated with: the impact of economic,
competitive and other factors affecting the Company and its operations,
markets, product, and distributor performance, the impact on the national
and local economies resulting from terrorist actions, and U.S. actions
subsequently; and other factors detailed in reports filed by the Company.