HYCO1 Announces Successful Performance Testing of Groundbreaking Technology that Converts CO2 Waste Into High-Value Products
Carbontech company now moves to show commercial operations robustness; engages CIBC Capital Markets as Financial Advisor
HOUSTON, March 29, 2022 /PRNewswire/ -- Carbontech innovator HYCO1, Inc. announces the successful performance testing of its proprietary catalyst and process technology that provides industrial companies a way to convert CO2 waste emissions into high value, sustainable products. The company is now moving to demonstrate the commercial robustness of the catalyst through a catalyst characterization unit in support of its multiple commercial, world-scale CO2 conversion projects and applications.
"We have started our catalyst characterization operations targeting key commercial design milestones at 4,000 hours, 8,000 hours and longer run times. We will leverage this process to optimize commercial designs being used today in FEL 1, 2, 3 engineering on the multiple commercial projects in our development pipeline," said Greg Carr, CEO of HYCO1, Inc.
During the catalyst characterization and commercial demonstration runs, HYCO1 is evaluating a wide range of CO2 feedgas compositions, flow rates, pressures and temperatures to confirm the efficiency of the HYCO1 system under a variety of operating parameters. It also confirms catalyst durability with the extended number of hours of continuous operations without coking/fouling of the catalyst. These commercial runs will allow HYCO1 to determine optimal operating conditions and gas product configurations for various commercial project applications.
The successful commercialization of HYCO1's technology will allow industrial companies with significant CO2 emissions to quickly and effectively reduce their CO2 emissions and with HYCO1's business model, can successfully do so with no capital cost burden. Turning CO2 emissions into low-cost, high-value products utilizing HYCO1's proprietary sustainable and scalable technology, represents a robust global market opportunity.
HYCO1 Engages CIBC Capital Markets as Financial Advisor
HYCO1 is pleased to announce that it has engaged CIBC Capital Markets to proceed with a Series A equity financing process. "The CIBC team is actively engaged in energy transition and particularly the carbon capture, utilization and storage sectors with a strong network of interested climate-tech investors. We've been very impressed with the CIBC team's capabilities to not only lead our Series A financing, but also help structure project funding for prospective opportunities in our development pipeline," said Carr.
About HYCO1
HYCO1 is the only carbontech company that cost-effectively captures industrial-scale CO2 emissions from the source and turns them into high-value, sustainable products. Pioneering a new era for planet positive solutions through carbon negative innovation, HYCO1 brings immediate, actionable CO2 conversion and utilization solutions to high CO2 emitting industrial companies and ESG investors. By decarbonizing one industrial plant at a time, HYCO1 plans to reduce, reuse, and recycle carbon emissions in a way that combats the effects of climate change. Learn more at www.hyco1.com.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, for the account or benefit of, U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
SOURCE HYCO1
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