Canadian carbon capture and storage technology innovator CO2 Solutions Inc. has agreed to purchase several assets of former US-based competitor Akermin Inc., in a move described as removing “any and all ambiguity” surrounding technology ownership rights.
Missouri-based Akermin, a previous rival of CO2 Solutions in the field of enzyme-based carbon capture, has decided to cease operations and liquidate its assets.
As a result, CO2 Solutions has acquired certain resources of Akermin’s ‘intellectual property’ (IP) under the asset purchase agreement worth $400,000.
On the whole, intellectual property refers to creations of the mind, such as inventions, designs, names and images commonly used in commerce, although the specific details of CO2 Solutions’ asset acquisition remain unspecified at this stage.
Evan Price, President and CEO of CO2 Solutions, emphasised that the IP asset acquisition “further bolsters our portfolio surrounding carbon capture using carbonic anhydrase.”
“Combined with the cessation of operations of Akermin, we think that this acquisition removes any and all ambiguity about which company is the provider of this demonstrated low-cost and environmentally friendly technology to capture CO2 and address the leading environmental issue of our day,” Price added.
At the time of writing, Akermin had not yet responded with a comment.