Canadian enzyme-enabled carbon capture specialists CO2 Solutions Inc. have been selected by Sustainable Development Technology Canada (SDTC) to receive $2.4 million in the form of a non-refundable grant.
The money will reportedly go toward deployment of CO2 Solutions’ technology in Quebec at approximately the 30 tons of CO2 captured/day scale, incorporating rotating packed bed (RPB) equipment. CO2 captured from a pulp mill will be reused in a nearby commercial greenhouse operation, resulting in an overall net reduction of greenhouse gas.
“Sustainable Development Technology Canada is incredibly proud to support CO2 Solutions”, said Leah Lawrence, SDTC President and Chief Executive Officer. “Our mission is to help Canadian cleantech entrepreneurs move their groundbreaking technologies to commercialization by bridging the funding gap between research and market entry. This carbon capture and reuse project is the kind of technology that has the potential to generate jobs, growth, and export opportunities, and to bring lasting economic, environmental, and health benefits to Canadians and the world.”
Bringing RPB to a commercial setting
The project is budgeted at approximately $7.4 million, and the company is currently pursuing non-dilutive financing to fund the balance of the project not covered by the grant. Receipt of the grant is subject to entering into a Contribution Agreement with SDTC, confirmation that all other funding sources are in place, and definitive agreements with the project partners.
“This project would both provide us with our first installation in the pulp and paper and greenhouse industries, where we see numerous opportunities, and enable us to demonstrate the new RPB technology in a commercial setting,” stated Evan Price, President and Chief Executive Officer of CO2 Solutions. “We are grateful to SDTC for their continued support in enabling us to upscale this new lower cost, smaller footprint solution.”