CO2 Solutions Welcomes Kiverdi as a Partner in the VCQ Project

TSX-V: CST 

Kiverdi joins CO₂ Solutions and the VCQ Project to turn CO₂ into valuable bio-based products

QUEBEC CITY, Sept. 14, 2017 /PRNewswire/ - CO₂ Solutions Inc. is pleased to announce that Kiverdi Inc. ("Kiverdi") of Hayward, California, has joined the Valorisation Carbone Québec ("VCQ") Project as a carbon use partner. CO₂ Solutions and Kiverdi will demonstrate carbon capture and utilization ("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 utilization technology to be announced within the context of the VCQ Project, the first being CO₂-to-acetic acid on May 18, 2017.

"CO₂ Solutions is very pleased to welcome Kiverdi into the VCQ Project," stated Evan Price, President and Chief Executive Officer of CO₂ Solutions. "CO₂ is recognized as the most abundant greenhouse gas (GHG). The VCQ Project will demonstrate that CO₂ can also be an important feedstock for many industrial processes," Mr. Price continued. "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 GHG 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 for competitive purposes.

"Kiverdi is excited to participate in the VCQ Project alongside CO₂ Solutions." said Dr. Lisa Dyson, Chief Executive Officer of Kiverdi. She added: "Commercializing 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.

About the Valorisation Carbone Québec (VCQ)Project
The objective of the VCQ Project is to develop and demonstrate commercially viable end-to-end solutions to capture and utilize CO₂ in various applications while at the same time reducing greenhouse gas (GHG) emissions. Under the leadership of CO₂ Solutions, a world-class leader in this field, the VCQ Project also includes the participation of Laval University and the Quebec government. Joining the initial members are Parachem, a limited partnership jointly owned by Suncor Energy Inc. (51%) and Société Investissement Québec (49%), and Hatch Ltd., a global consulting and engineering firm specialized in the design and realization of major industrial engineering projects and services throughout the world and the supplier of engineering services to the VCQ Project. The VCQ Project is headed by Dr. Louis Fradette, former CTO at CO₂ Solutions, as its Project Director. The demonstration phase of the VCQ Project includes the design, construction, installation and operation, at Parachem's industrial site in Montreal-East (Quebec), of a CO₂ capture, unit using the Corporation's enzymatic process, and CO₂ utilization units provided by utilization partners. The development phase aims to advance one or several second-generation CO₂ utilization processes based on the work already initiated at various universities and public or private research centres. The VCQ Project is supported by a $15M grant from the Québec government and monetary investments and/or in-kind contributions by the partners.

About Kiverdi
Kiverdi, Inc., is a privately held biotech company developing beneficial uses of carbon dioxide with a mission to commercialize innovations that will help to sustainably power a growing world. Kiverdi's bio-process uses natural microorganisms to convert carbon dioxide into raw materials that can be used to manufacture everyday products. Similar to plants, Kiverdi's bio-process converts carbon dioxide, along with other simple mineral nutrients and gases, into bio-based raw materials for everyday products. The Kiverdi process requires 3-4 orders of magnitude less land than traditional agriculture and significantly less water, and can be fed a concentrated source of carbon dioxide as one might do with a greenhouse or a vertical farm. By recycling carbon dioxide, Kiverdi is addressing the growing demand for cost-competitive, sustainably sourced products that have a low-carbon footprint and do not rely upon diverted food crops. Kiverdi is bridging the gap between sustainability and profitability. Further information can be found at: http://www.kiverdi.com/.  

About CO₂ Solutions Inc.
CO₂ Solutions is a Canadian company and leading innovator in the field of enzyme-enabled carbon capture and has been actively working to develop and commercialize the technology for stationary sources of carbon pollution. CO₂ Solutions' technology lowers the cost barrier to Carbon Capture, Utilization and Sequestration and (CCUS), positioning it as a viable CO₂ mitigation tool, as well as enabling industry to derive profitable new products from these emissions. CO₂ Solutions has built an extensive patent portfolio covering the use of carbonic anhydrase, or analogues thereof, for the efficient post-combustion capture of carbon dioxide with low‐energy aqueous solvents. Further information can be found at www.co2solutions.com.

CO₂ Solutions Forward-looking Statements
Certain statements in this news release may be forward-looking. These statements relate to future events or CO₂ Solutions' future economic performance and reflect the current assumptions and expectations of management. Certain unknown factors may affect the events, economic performance and results of operation described herein. CO₂ Solutions undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE CO2 Solutions Inc.