CO2 Solutions And COAL21 Jointly Announce The Results Of An Important Study On The Application Of Enzymatic Technology To Coal-Fired Power Plants And Industrial Processes

Quebec City, QC /PRNewswire/ - CO2 Solutions Inc. (the "Corporation") (TSXV: CST) a carbontech leader in the field of enzyme-enabled carbon capture and COAL21 Ltd. (COAL21), the foundation of a significant investment by the Australian black coal industry in the demonstration of low emission coal technologies, such as carbon capture and storage (CCS), are pleased to announce the results of a study examining the performance of the Corporation's enzymatic technology when applied to coal-fired power plants for post-combustion carbon capture. The study was conducted over the past 18 months by PROCOM Consultants (Brisbane, Australia) and funded by the COAL21 Fund.

The methodology applied by PROCOM in this in-depth study included the development of rate-based models for absorber/stripper, the validation of the enzymatic technology's heat/mass balance and the key performance parameters and model integration of the enzymatic technology in coal-fired power plants. The simulation software used was Aspen Plus. Two reference cases were modelled: i) US DoE SC reference case (B12B) and ii) supercritical (SC) power plant from Queensland, Australia. In both cases, the performance of the Corporation's enzymatic technology was compared to a known advanced amine technology (Cansolv). The Corporation provided two unoptimized process books of its enzymatic technology at different scales based on its ProTreat® models to the PROCOM study.

Following are the main study conclusions reached by PROCOM Consultants:

• The enzymatic technology appears well suited to coal-based industrial plants (e.g. iron and steel, cement) in particular for its tolerance to the oxides in flue gas and appears to have significant environmental and operational advantages over alternative post-combustion capture technologies, such as advanced amine technology.
• By using low-grade, residual thermal energy in the form of hot water, the modelled unoptimized enzymatic solvent performance yields marginally more electricity in the context of an existing coal-fired power plant in Australiacompared to the advanced amine process.
• The enzymatic technology's tolerance to SOx and NOx contaminants in the flue gas of low-sulphur coal-fired plants provides it with an estimated 30% capex advantage relative to the advanced amine technology since there is no requirement to polish this flue gas down to single digit parts per million (ppm) using Flue Gas Desulfurization (FGD) and Selective Catalytic Reduction (SCR).
• Modelling has confirmed that supercritical (SC) coal-fired power plants in Australia have sufficient residual low-grade heat to give the enzymatic technology a slight power efficiency advantage over the advanced amine technology. Moreover, the likely further optimization of the enzymatic technology would extend this advantage.
• In addition to being able to use residual, low-grade heat in the form of hot water as its thermal energy, the enzymatic technology could also tap into renewable energy sources such as geothermal and solar thermal sources for its energy requirements, options which are more challenging to the advanced amine technology which requires steam. Tapping into these sources of external renewable heat would potentially significantly reduce the thermal parasitic load of carbon capture.
• The PROCOM study confirmed the enzymatic process minimizes the environmental footprint through the use of an ionic (non-volatile) and environmentally benign solvent.
• The enzymatic technology converts a portion of the oxide contaminants in the flue gas (SOx and NOx) into high-value sulphates, sulphites, nitrates and nitrites, which accumulate over time in the solvent. As a result, the periodic bleed of this nontoxic solvent creates an opportunity to recover valuable materials, such as potassium nitrate fertilizer, which reduces the overall operating cost of the enzymatic technology. This approach is not available to the advanced amine technology.
• Through expected optimization, the enzymatic technology could be more favourable than amine-based processes regarding capex and overall energy requirements, and very favourable to amine-based processes regarding aspects related to management of oxide flue gas contaminants.
• The enzymatic technology appears well suited to coal-based industrial plants (e.g., iron and steel, cement) in particular for its tolerance to the oxides in flue gas and appears to have significant environmental and operational advantages over alternative post-combustion capture technologies, such as advanced amine technology.

"We take this opportunity to recognize COAL21 and PROCOM Consultants for their thoroughness, attention to detail, hard work and diligence in carrying out this extensive study," stated Richard Surprenant, CO2 Solutions' Chief Technology Officer. "The detailed report prepared by Procom Consultants highlights the low-cost and environmentally friendly qualities of our process. It further confirms the major paradigm shift that the enzymatic technology represents for the carbon capture industry. We strongly believe that the future of carbon capture rests on modern, innovative, low environmental footprint, and low-cost technologies. It's time to face today's carbon challenge with 21st-century technology."

"We thank CO2 Solutions for their complete cooperation during the preparation of this study on the enzymatic technology" stated Mark McCallum, CEO of COAL21. "The enzymatic technology developed by CO2 Solutions is an exciting process that holds the promise of lower-cost and environmentally friendly carbon capture. It has demonstrated that it is possible to reduce parasitic energy loads and the overall environmental footprint. It is through the broad application of technologies such as these that we can mitigate carbon emissions from any source, including coal."

About CO2 Solutions Inc.
CO2 Solutions is a carbontech leader 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 (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. Certain statements in this news release may be forward-looking. These statements relate to future events or CO2Solutions' 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.

About COAL21
COAL21 Ltd. (COAL21) operates the COAL21 Fund to support the pre-commercial demonstration of low emission coal technologies (such as carbon capture and geological storage).

About PROCOM Consultants
PROCOM Consultants Pty Ltd. (PROCOM) provides a range of engineering, commissioning and operation services to conventional oil and gas and non-conventional energy industries including rigorous process modelling.

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. www.co2solutions.com.