January 24, 2020 By P&PC Staff
Italian company Saipem S.p.A. and its Canadian arm, Saipem Canada, have acquired the C02 capture unit formerly owned by CO2 Solutions at Resolute Forest Products’ Saint-Félicien, Quebec pulp mill.
CO2 Solutions filed its intent to declare bankruptcy in September 2019, six months after commissioning its capture unit at Resolute.
On December 19, 2019, CO2 sold its portfolio of intellectual property to Saipem, which provides engineering, drilling and construction of major projects in the energy and infrastructure sectors.
The sale includes about 90 patents, granted or pending, the corporation’s trademarks, the CO2 capture unit located at the Saint-Félicien mill, and related contracts.
The capture unit will continue to operate, with Saipem Canada taking on CO2 Solutions employees to ensure a smooth transition of the R&D and operations.
Second capture unit sold
In a second transaction on January 17, 2020, CO2 Solutions sold its other CO2 capture unit located in Montreal-East, Quebec, to chemical manufacturer Chimie Parachem, which may turn into a possible resale to a third party once the sale is finalized in coming months.
CO2 Solutions’ proprietary enzymatic process is a CO2 capture technology that does not use or emit toxic products.
It has been demonstrated at scale (30 tonnes/CO2 per day), validated by third parties and attained commercial status (TRL-8).
The technology was developed over the past 20 years by Canadian scientists and engineers, and was directly or indirectly supported by the governments of Canada, Quebec, Alberta, the United States and the European Union.
Print this page