QUEBEC CITY AND COLORADO SPRINGS, CO — CO2 Solutions Inc., an innovator in the field of enzyme-enabled carbon capture technology, today announced that it has entered into a Collaboration Agreement with Colorado-based Neumann Systems Group, Inc. (“NSG” or “Neumann Systems”), an established emissions control solutions provider.
Under the terms of the agreement, CO2 Solutions and NSG will demonstrate a combination of their two proprietary technologies at pilot scale in what is expected to be a significantly lower cost process for the capture of CO2 from industrial effluent gases. Following this pilot, the companies anticipate co-marketing a combined solution for profitable application in enhanced oil recovery (EOR) and other existing and new CO2 sequestration and reuse markets.
“This project with Neumann Systems has the potential to significantly accelerate the commercialization of both our companies’ carbon capture technologies,” said Evan Price, President and CEO of CO2 Solutions. “Successful completion of the pilot will enable us to jointly pursue commercial opportunities both companies have identified. This is also a timely start to a relationship between CO2 Solutions and a U.S. partner given the June 2, 2014 landmark announcement by the Obama administration of carbon emissions regulations for the U.S. power sector.”
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