CO2 Lock Corp and Cielo Carbon Solutions along with American-based technology partner CarbonQuest, are pleased to announce the signing of a Letter of Intent that outlines the framework for capturing and sequestering 100,000 tonnes of CO2 per year, scaling up to a target of 1 million tonnes per year.
This agreement paves the way for securing CO2 captured from the industrial source with integrated sequestration and permanent storage solutions which together form a critical component of Canada’s decarbonization pathway.
The need to decarbonize as well as permanently sequester associated emissions is more critical than ever and this collaboration between Cielo Carbon Solutions, CarbonQuest, and CO2 Lock will facilitate these efforts, ensuring a sustainable and environmentally responsible approach to energy use.
“This strategic relationship that combines a technology and deployment solution from CarbonQuest and Cielo that can capture up to 95% of CO2 from emitters and the permanent carbon storage that CO2 Lock offers is a significant step forward,” said Scott Larson, CEO of CO2 Lock.
“Cielo’s cost-effective, end-to-end turnkey solution that utilizes cutting-edge technology to offset carbon emissions without disrupting site operations is a perfect fit for what we offer.”
“This LOI completes the value chain and ties in directly with our business model,” commented Johnathon Sipos, Cielo’s CEO. “As we combine our point source carbon capture technology that is scalable and purpose built for industrial and commercial sectors with storage from CO2 we have an offering that is incredibly compelling.”
Read more: CarbonQuest Announces Series A Funding To Advance Its Distributed CO2 Capture Technology
