Jan 19 2011
CO2 Solution Inc. (TSX-V: CST) is pleased to announce that it has extended the carbon capture Joint Development Agreement ("JDA") with Codexis, Inc. (NASDAQ: CDXS), originally announced December 15, 2009.
Under the JDA, Codexis and CO2 Solution have collaborated on the development of customized carbonic anhydrase ("CA") biocatalysts and related processes to enable the efficient capture of carbon dioxide from power plants and other large stationary emissions sources.
Program results to date have shown that the combined CO2 Solution / Codexis proprietary technologies have the potential to significantly lower the capital and operating cost barriers associated with conventional technologies to capture CO2 from power plant effluent gases.
This progress led to CO2 Solution and Codexis entering into an exclusive Collaboration Agreement with a global leader in energy and infrastructure projects with over 5 billion dollars in annual sales, as announced on December 3rd, 2010, covering the development and pilot scale testing of the technology for coal-fired power plants, one of the largest global sources of harmful greenhouse gas emissions.
CO2 Solution's proprietary enzymatic method for the efficient capture of carbon dioxide from coal-fired power plants and other large sources of emissions will continue to be combined, on an exclusive basis, with Codexis' directed enzyme evolution technology. The JDA will be extended until the later of June 30, 2012, or six months after the expiry of any third-party collaborations.
Glenn Kelly, President & CEO of CO2 Solution stated, "We are extremely pleased to continue to work with Codexis towards the joint deployment of our technologies to address the significant global opportunity for affordable clean energy from fossil fuels. Given the rapid progress that our joint development effort has achieved so far, notably our recent collaboration with a global leader in energy infrastructure, we look forward to strong and continual progress in 2011 and 2012."