Canadian carbon capture and storage technology innovator CO2 Solutions Inc. has welcomed a new partner.
Kiverdi Inc. has joined the Valorisation Carbone Québec (VCQ) Project as a carbon use partner. The objective of the VCQ Project is to develop and demonstrate commercially viable end-to-end solutions to capture and utilise CO2 in various applications while at the same time reducing greenhouse gas emissions.
CO2 Solutions and Kiverdi will demonstrate carbon capture and utilisation (CCU) through the deployment of Kiverdi’s proprietary bio-process to convert CO2 into bio-based products alongside CO2 Solutions’ leading-edge enzymatic carbon capture technology at the Parachem site in Montreal, Quebec.
This is the second CO2 utilisation technology to be announced within the context of the VCQ Project, the first being CO2-to-acetic acid on May 18, 2017.
President and CEO of CO2 Solutions, Evan Price, said the company is pleased to welcome Kiverdi into the VCQ Project.
He continued, “CO2 is recognised as the most abundant greenhouse gas. The VCQ Project will demonstrate that CO2 can also be an important feedstock for many industrial processes. The pairing of CO2 Solutions’ leading carbon capture technology with Kiverdi’s bio-process will convert captured CO2 into valuable bio-based products while contributing to the reduction of greenhouse gases in the environment.”
Under the terms of the agreement, CO2 Solutions, through the VCQ Project, will fund the construction of a Kiverdi CO2 conversion unit as well as fund the subsequent demonstration at the Parachem site. Specific financial terms of the collaboration agreement between CO2 Solutions and Kiverdi were not disclosed.
Dr. Lisa Dyson, CEO of Kiverdi, added, “Kiverdi is excited to participate in the VCQ Project alongside CO2 Solutions. Commercialising technologies that make the capture and conversion of carbon dioxide profitable is both good for the planet and good for business. Kiverdi is focused on this challenge and we are thrilled to join the visionary members of the VCQ Project in this endeavour.”
It is expected that the Kiverdi unit will operate at the Parachem site following its construction as a participant of the VCQ Project, which will conclude in March 2019.