|Codexis Presents Carbon Capture Update at DoE/NETL Conference|
REDWOOD CITY, Calif., Aug. 24, 2011 /PRNewswire via COMTEX/ --
Codexis, Inc. (Nasdaq: CDXS) presented important technical progress in its carbon capture program yesterday at the CO2 Capture Technology Meeting being sponsored this week by the U.S. Department of Energy/National Energy Technology Laboratory in Pittsburgh. Codexis, supported by a grant from the DoE's ARPA-E Recovery Act program, is using its patented CodeEvolver(TM) directed evolution technology to develop processes to reduce carbon dioxide emissions from coal-fired power plants.
The research program is based on development of customized carbonic anhydrase (CA) enzymes that could catalyze carbon capture under industrial conditions. Data showed CA performance has been improved by about two million fold over natural forms of the enzyme. Evolved CA enzymes are functional and stable in relatively inexpensive, energy efficient solvents for 24 hours at temperatures greater than 90 degrees C.
Use of carbon capture solvents with fully developed enzymes is expected to substantially reduce the costs and energy requirements to capture CO2 produced by coal-fired power plants. The data was presented by James Lalonde, Ph.D., Codexis' Vice President of Biochemistry and Engineering Research and Development. Codexis is jointly developing the technology with CO2 Solution, Inc., Quebec, Canada. (TSX-V:CST)
A 2011 NETL report estimated that coal-fired power plants account for roughly 37% of total U.S. CO2 emissions and that current technology to capture CO2 would reduce power generating capacity by 30%.
In May 2010, Codexis was selected to receive an ARPA-E Recovery Act program grant for up to $4.7 million from the U.S. Department of Energy for development of innovative technology to remove carbon dioxide from coal-fired power plant emissions. The grant was one of 37 research projects which the DoE said "could fundamentally change the way the country uses and produces energy."
Codexis is a clean technology company. Codexis develops optimized biocatalysts that make industrial processes faster, cleaner and more efficient. Codexis' technology is commercialized with leading global pharmaceutical companies and is in development for advanced biofuels with Shell, carbon capture and biobased chemicals. Wastewater treatment is a potential future market. For more information, visit www.codexis.com.
This press release contains forward-looking statements relating to Codexis' research in carbon capture technology and the ability of our carbon capture technology to substantially reduce the costs and energy requirements to capture CO2 produced by coal-fired power plants. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could materially affect actual results. Factors that could materially affect actual results can be found in Codexis' Quarterly Report on Form 10-Q dated August 3, 2011 including under the caption "Risk Factors." Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
SOURCE Codexis, Inc.