CO2 Solutions Inc. has announced that Suncor has joined the Valorisation Carbone Québec (VCQ) project as its second industrial partner.
The VCQ project aims to develop and demonstrate commercially viable end-to-end solutions to capture and utilise CO2 in various applications whilst reducing greenhouse gas emissions.
“It’s an honour to welcome Suncor, Canada’s leading oil and gas company into the VQC project,” said Evan Price, President and Chief Executive Officer of CO2 Solutions.
“We believe that one of the biggest challenges of our time is the fight again climate change while maintaining a vigorous economy. The commitment and leadership demonstrated by Suncor through this partnership is a great indicator of the importance and pertinence of the VQC project in identifying and demonstrating viable solutions to reduce CO2 emissions.
“The VQC project, the world’s most comprehensive and ambitious CO2 capture and utilising project, continues to draw influent and engaged partners. We look forward to confirming additional industrial partners to the project in the near future.”
The Industrial Partner category is one of five partnership types in the VQC project along with the Founder, Supplier, Utilisation technology and end-use partnership categories.
Industrial partners make financial contribution to the VQC budget in exchange for data generated throughout the project.
The amount of these contributions is undisclosed for competitive reasons. To date, eleven organisations have confirmed their participation as partners in one of the categories of the VCQ project, making it a truly broad effort to address CO2 mitigation through carbon capture utilisation.
The VCQ project is headed by its Project Director, Dr Louis Fradette, former Chief Technologies Officer at CO2 solutions, and is currently supported by $22.5m in grants from the Quebec government and monetary investments and/or in-kind contributions by the project partners.