Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

March 20, 2015 07:00 ET

Government of Canada Encouraging Creation and Maintenance of Quality Jobs in Quebec

CO2 Solutions implements innovative process to complete development of low-cost and ecological carbon capture technology, with financial support from the Government of Canada

QUÉBEC CITY, QUEBEC--(Marketwired - March 20, 2015) - Canada Economic Development for Quebec Regions (CED)

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that CO2 Solutions Inc. has been granted financial support for the development of an innovative carbon capture process.

This assistance has been awarded in the form of a $400,000 repayable financial contribution through CED's Quebec Economic Development Program.

Quick facts

  • The investment will enable the company to perfect development of its technology on an industrial scale suitable for commercialization, test non-conventional equipment and optimize its enzyme production process.
  • CO2 Solutions patented enzymatic platform technology efficiently captures carbon dioxide produced by a variety of industries, notably the oil production and pulp and paper industries.
  • A leader in carbon capture, CO2 Solutions is the only Canadian enterprise offering this kind of process in North America.

Quotes

"Supporting innovation is one of the pillars of our government's strategy for building a high-performing economy and creates wealth and jobs. This is why we decided, without hesitation, to lend our financial assistance to this innovative project of CO2 Solutions."

Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

"For years, CO2 Solutions has been making use of the best resources available to advance our technology in the goal of developing and commercializing innovative and low-cost solutions for reducing CO2 emissions. The funding announced today will help support the scaling up and completion of pilot testing of our technology, thereby ensuring the development and commercialization of CO2 Solutions proprietary innovation."

Evan Price, President and CEO, CO2 Solutions Inc.

Related link

CO2 Solutions Inc. Website: http://www.co2solutions.com/en

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