Canada Economic Development

Canada Economic Development

March 14, 2011 10:30 ET

CO2 Solution Receives $250,000 in Funding From Government of Canada for Development of GHG Capture Technology

QUÉBEC CITY, QUÉBEC--(Marketwire - March 14, 2011) - Acting on behalf of the Honourable Denis Lebel, Minister of State for Canada Economic Development, the Honourable Josée Verner, Minister of Intergovernmental Affairs, President of the Queen's Privy Council for Canada, Minister for La Francophonie and Minister responsible for the Québec region, today announced the awarding of $250,000 in repayable funding to CO2 Solution for the pilot testing of proprietary technology for the capture and treatment of greenhouse gas (GHG) emissions. This financial assistance has been awarded through Canada Economic Development's Business and Regional Growth program.

"In funding CO2 Solution, the Government of Canada is supporting the growth of an innovative Quebec enterprise and promoting important research and development in the Québec region that will help address a major environmental challenge," stated Minister Verner.

Operating in a high value-added sector, CO2 Solution has joined forces with a private partner, a world leader in energy infrastructure and carbon dioxide capture systems, to test its technology in an industrial setting and make any necessary adjustments during the course of the project. This testing process is an important preliminary step to having this innovative technology adopted by major producers of GHG emissions, such as power plants. 

The project, which will include the purchase of specialized equipment and the hiring of additional scientists, will allow COSolution to improve its productivity and competitiveness while bolstering the company's sales on international markets.

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