TSX-V: CST
Outstanding shares: 60,261,136
QUEBEC CITY, June 8
/PRNewswire-FirstCall/ - CO2 Solution Inc. ("CO2 Solution" or the
"Company") is pleased to announce that it has received a
certification from le Ministère du Développement économique, de
l'Innovation et de l'exportation (MDEIE) that the Joint Development
Agreement (JDA) between CO2 Solution and its enzyme collaborator
Codexis, Inc., of Redwood City,
California, constitutes a partnership contract within the
framework of a precompetitive research project. As such, CO2
Solution will receive additional tax credit payments based on
eligible research & development (R&D) expenditures for the
period ending January 31, 2011.
Through this additional tax credit eligibility, CO2 Solution will
receive up to a total of $600,000 for
the nearly $3 million being invested
in R&D expenditures as part of the joint development with
Codexis.
About CO2 Solution
Based in Quebec City, CO2 Solution Inc. has developed a
proprietary bio-technological platform for the efficient capture of
carbon dioxide (CO2), the most important greenhouse gas (GHG), from
power plants and other large stationary sources of emissions. The
Company's technology platform exploits the natural power of a
bio-catalyst (enzyme), carbonic anhydrase, which functions within
humans and other mammals to manage CO2 during respiration. CO2
Solution has successfully adapted the enzyme to function within an
industrial environment, and thus has taken advantage of a
biomimetic approach to CO2 capture based on millions of years of
evolution. The Company is commercializing its technology for coal
fired power generation, the oil sands and other CO2-intensive
industries where a low-cost capture solution is key to meeting
climate change legislation in a cost effective manner.
CO2 Solution's technology platform is protected by several North
American and European patents, including the use of carbonic
anhydrase for CO2 capture and release in a packed column system.
News releases and additional information can be found at
www.co2solution.com
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.
