QUEBEC – Shares of CO2 Solutions gained more than 40 per cent Thursday after it announced the federal government is investing $4.7 million in the company, which is working on carbon capture technology for use in oil sands production.
Get weekly money news
Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
The shares (TSXV:CST) closed up three cents at 10 cents on the TSX Venture Exchange.
CO2 Solutions said the overall cost of the project will be $7.5 million.
- Alberta government expects $100 payouts to arrive within 2 weeks of applications
- Alberta giving $100 energy rebates to some households — is yours one of them?
- SpaceX rockets past Amazon to become world’s 5th most valuable company
- Benefit payments are coming soon to those who qualify. Here’s how much
The investment was made through Ottawa’s ecoENERGY Innovation Initiative, with additional money for the project coming from grants from Alberta’s Climate Change and Emissions Corp., the company and its partners.
CO2 Solutions is developing a carbon capture system that uses naturally occurring enzyme.
Comments
Want to discuss? Please read our Commenting Policy first.