This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CO2 Solutions Completes First Alberta Oil Sands Project Milestones

Stocks in this article: CST

Company's patented carbon capture technology exceeds operating cost reduction target

TSX-V: CST Outstanding Shares: 79,687,836

QUEBEC CITY, Aug. 29, 2013 /PRNewswire/ - CO 2 Solutions Inc. (TSX-V: CST), an innovator in the field of enzyme-enabled carbon capture technology, today announced that it has met and exceeded the first two technical performance milestones for its Alberta Oil Sands project. The Company demonstrated its patented carbon capture technology is at least one-third less expensive than existing carbon capture technology in terms of energy consumption, and can withstand the rigors of industrial application.

The project will now proceed to the large-bench scale (0.5 tonne/day CO 2 capture) testing phase for the remainder of 2013 where the same performance metrics will be validated under flue gas conditions. Following successful large-bench validation and, according to the current schedule, the project will move to field pilot-scale (approximately 15 t/d CO 2 capture) testing in 2014.

"Today's milestone demonstrates our Government's commitment to investments that bring innovative clean technologies from concept to demonstration," said the Honourable Joe Oliver, Canada's Minister of Natural Resources. "Through programs such as the ecoENERGY Innovation Initiative, our Government is supporting innovative clean energy technologies that create jobs, generate economic opportunities and protect the environment."

"Confirming the cost-effectiveness and efficacy of our enzymatic carbon capture technology is an important step towards commercial deployment in the Oil Sands," said Evan Price, President and CEO of CO 2 Solutions. "The Company is well-positioned to move to the next stage of the technology's development."

CO 2 Capture Performance CO 2 Solutions' enzymatic technology yielded an energy cost reduction of at least 33 per cent compared to existing carbon capture technologies when employed to capture 90 percent of the CO 2 emissions from natural gas combustion at a typical in-situ oil sands operation. Importantly, the 33 percent cost reduction was achieved without any process optimization, and further savings are expected to be achieved upon optimization and operational integration in later development phases. The project target was to demonstrate a cost reduction of 25 percent relative to existing carbon capture technologies.

Additionally, the selected solvent is not only significantly less expensive than conventionally used ones, but is also far superior from an environmental and solvent-management standpoint.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs