CO2 Solutions Inc. Reports Earnings Results for the Year Ended June 30, 2018
October 19, 2018 at 06:36 am IST
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CO2 Solutions Inc. reported earnings results for the year ended June 30, 2018. For the year, the company recorded revenues of $0.65 million. The net loss for the financial year ended June 30, 2018, decreased by $2.7 million to $1.9 million.
CO2 Solutions Inc. is a Canada-based technology company, which is involved in the capture and management of carbon dioxide (CO2). The Company is focused on commercializing an enzyme-based enabling technology for efficient CO2 capture from fossil fuel power plants, pulp and paper mills and other emitters of CO2. Its technology allows post-combustion emissions to be captured directly from industrial sources like chimneys. The CO2 is then extracted for purification in order to be reused or converted. Its technology is also adaptable to all types of gaseous effluents. The Company's industrial lung carbon-capture technology produces CO2 for reuse or conversion. Its carbon-capture technology uses carbonic anhydrase (CA) enzyme, which is necessary to the organic exchange of CO2 during respiration. The Company is focused on developing its technology platform, testing, de-risking and enhancing that technology platform.