CO2 Solutions to buy IP assets from defunct competitor
Asset purchase deal worth $400,000 bolsters company's expertise in enzyme-based carbon capture
QUEBEC CITY—Canadian carbon capture technology firm CO2 Solutions Inc. has picked up a portfolio of intellectual property rights from a defunct U.S. competitor.
The company said Nov. 8 it has agreed to buy IP owned by Akermin Inc.—a St. Louis-based firm that has elected to cease operations and liquidate its assets—for $400,000 worth of shares.
Evan Price, the company’s president and CEO, said the deal will bolster the CO2 Solutions’ expertise in carbon capture using the carbonic anhydrase family of enzymes. Earlier this year, Akermin lost a patent challenge against CO2 Solutions filed with the Danish Patent Office.
“Combined with the cessation of operations of Akermin, we think that this acquisition removes any and all ambiguity about which company is the provider of this demonstrated low-cost and environmentally friendly technology to capture CO2 and address the leading environmental issue of our day,” Price added.
This summer, the company signed a $7.4 million deal with Quebec’s Resolute Forest Products Inc. to build a carbon capture system at the firm’s Saint-Félicien, Que. pulp mill.