Co2 Solutions Inc. said it and Alcoa Inc. (AA:US) put on hold plans to develop carbon capture and storage facilities because they couldn’t meet U.S. Department of Energy targets to finish the work by 2014.
The companies since April 2011 had been studying how to sequester industrial Co2 emissions from aluminum production using Alcoa’s technology scrubbing the gases from the aluminum manufacturing process, Co2 said in a statement today.
“While the project will not proceed as planned, the technical results validate our belief that our enzyme-enabled carbon capture technology will become commercially viable for both carbon dioxide capture and sequestration,” said Glenn R. Kelly, president and chief executive officer of Co2. “The positive results from this program have already led to evaluations of our technology being undertaken with other industrial partners.”
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