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CO2 Solutions secures $5.8m funding for VCQ project from Quebec government

CTBR Staff Writer Published 29 March 2018

CO2 Solutions has secured $5.8m (C$7.5m) in funding from the Quebec government for its Valorisation Carbone Québec (VCQ) project.

VCQ project is aimed at developing and demonstrating commercially viable end-to-end solutions to capture and utilize CO2 in various applications while at the same time reducing greenhouse gas (GHG) emissions.

The project will be managed by CO2 Solutions along with participation from Université Laval and the Quebec government as founding partners.

Along with these founding partners, other partners in the project include Parachem a partnership jointly owned by Suncor Energy (51%) and Société Investissement Québec (49%) and Hatch, a consulting and engineering firm specialized in design and realization of industrial engineering projects and services and the supplier of engineering services to the VCQ Project.

CO2 Solutions president and CEO Evan Price said: “We salute the Quebec Government’s leadership and thank them for their continued generous support. This enhancement and three year extension of the VCQ Project is great news for the project itself and for CO2 Solutions.

"It builds on our tremendous success in the first year of the project during which time we demonstrated our Corporation’s ability to get things done quickly and effectively.”

Recently, French energy company Total has joined the project as a industrial partner.

CO2 Solutions claims that till date around eleven different organizations have confirmed their participation as partners in one or the other categories of the project.

Evan Price said: “CO2 Solutions is excited to welcome Total into the VCQ Project. The strong interest shown by Total confirms the importance and pertinence of the VCQ project to address industry’s desire to reduce their carbon footprint while creating economic opportunities through the full industrial carbon cycle.“

Image: CO2 Solutions secures $5.8m funding from Quebec government. Photo: Courtesy of Rybson/FreeImages.com.