Quebec to invest $15 million to enhance carbon capture technology

Enzyme-enabled carbon capture technology company CO2 Solutions said its technology has been selected by the government of Quebec in the framework of its 2015-2020 Government Strategy for Sustainable Development.

In its 2016-2017 budget, released yesterday afternoon, March 17, 2016, the provincial government announced that it has allocated a budget of $15 million over the next three years to support the creation of a consortium to promote adoption of CO2 Solutions’ patented enzyme-enabled carbon capture technology.

Effectiveness of this technology was recently successfully confirmed during an extensive demonstration project at Valleyfield in Quebec. The project’s results, validated through an independent third party engineering firm, were conclusive and the process is now ready for commercialization.

The consortium “Valorisation carbone Quàƒ©bec” will be composed of CO2 Solutions, Laval University and other organizations from the private and public sectors. Its mandate will be to develop and implement concrete solutions that will make a positive contribution to the Quebec economy through the creation of a new value-add carbon life cycle. This life cycle is envisaged to include the capture of CO2 and its subsequent conversion into value-added goods, such as biofuels.

Quebec recently established a goal to reduce its GHG emissions by 20 percent below 1990 levels by 2020, and 37.5 percent below this same level by 2030. The government sees its contribution to the new consortium as a strategic contribution towards helping industry reduce GHG emissions without damaging its ability to compete on economic terms.

CO2 Solutions will disclose further information regarding the structure and objectives of the consortium “Valorisation carbone Quàƒ©bec” as those details become more developed.

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