CO2 Solution to present its technology for reducing carbon emissions from the Alberta oil sands
Thursday, Sep 29, 2011QUEBEC CITY, Sept. 28, 2011 /CNW Telbec/ - CO2 Solution Inc. (TSXV: CST) announced today that the company will present at the Petroleum Alliance Technology Canada forum entitled "Towards Clean Energy Production - Managing CO2for Enhanced Oil Recovery and Carbon Capture and Storage", on October 3, 2011 at the Calgary Petroleum Club, Calgary, Alberta, Canada. Presenting for CO2 Solution will be Jonathan Carley, Vice-President, Business Development.
The presentation will focus on the application of CO2 Solution's enzymatic carbon capture technology to efficiently manage carbon emissions from oil sands production operations in Alberta. Unconventional hydrocarbon production from the oil sands is the subject of concern by some groups due to its higher overall carbon footprint vis-a-vis conventional oil production. This results largely from the combustion of natural gas to produce steam which is injected underground to produce this oil in-situ. As such, both industry and government are focused on ways to reduce emissions from the oil sands, with carbon capture
and storage (CCS) being a mitigation option of major interest. However, the cost of this technology is prohibitive to its wide commercial deployment. CO2 Solution's enzymatic technology is well positioned to solve this challenge.
"CO2 capture costs from the oil sands with conventional technology are very significant, mainly as a result of the large amounts of process energy required" said Mr. Carley. "Using the power of our enzyme catalyst, we have a solution to address this cost barrier which does not replace, but rather leverages existing technology approaches to significantly enhance their efficiency. With our technology already in development in coal-fired power generation and the aluminum industry, we are now looking towards the oil and gas industry, and particularly the Alberta oil sands, as a major deployment opportunity".
Based in Calgary, Petroleum Alliance Technology Canada is a not-for-profit association that facilitates innovation, technology transfer and collaborative research and technology development to improve the financial, environmental and safety performance of the Canadian upstream oil and gas industry. Further details of PTAC's activities and its upcoming carbon capture forum are available at www.ptac.org.
About CO2 Solution Inc.
CO2 Solution is an innovator in the field of enzyme-enabled carbon capture and has been actively working to develop and commercialize the technology for power plants and other large stationary sources of carbon pollution. In the process, CO2 Solution has built an extensive patent portfolio covering the use of carbonic anhydrase, or analogues thereof, for the efficient post combustion capture of carbon dioxide with low energy aqueous solvents. Further information about CO2 Solution can be found at www.co2solution.com.
CO2 Solution Forward-looking Statements
Certain statements in this news release may be forward-looking. These statements relate to future events or CO2 Solution's future economic performance and reflect the current assumptions and expectations of management. Certain unknown factors may affect the events, economic performance and results of operation described herein. CO2 Solution undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CO2 SOLUTION INC.
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