CO2 Solutions
CO2 Solutions Inc is a Quebec-based carbon capture technology company that has developed a proprietary enzymatic, non-toxic solvent process to capture CO2 from industrial sources including power, cement, refining, and paper mills, with the technology now commercialized through Saipem SpA's CCUS portfolio.
- Company typePrivate
- Founded1997
- HeadquartersQuebec, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What CO2 Solutions does
CO2 Solutions Inc is a Quebec, Canada-based carbon capture technology company founded in 1997, focused on developing enzymatic processes to capture CO2 emissions from industrial point sources. Its core technology uses a non-toxic solvent and a proprietary biocatalytic (enzymatic) method to selectively capture carbon dioxide, achieving high selectivity and stability while operating on low-grade waste heat to reduce energy costs. The technology has been validated at Technology Readiness Level 8 (TRL 8) through a real-world paper mill demonstration and is applicable across power generation, cement production, refining, and pulp/paper manufacturing. Follow-on product Bluenzyme 200™ extends capture capability to both gaseous and liquid CO2 streams.
The company distributes its technology through Saipem SpA's global direct engineering sales channel under the "CO2 Solutions™ by Saipem" brand and participates in the EU-funded ACCSESS innovation project for cross-sector validation. CO2 Solutions Inc itself is delisted from the TSX-Venture Exchange (former ticker CVE:CST) with a residual market capitalization of approximately C$6.39 million. Leadership comprises CEO Evan Price and CFO Jérémie Lavoie. Headcount is reported at 11-50 employees, no standalone revenue or pricing is publicly disclosed, and the go-to-market is B2B enterprise direct sales into industrial facility operators and engineering, procurement, and construction (EPC) integrators.
Geographically, operations and customer reach extend across Canada, the United States, and Europe. The end-markets — carbon capture chemicals (projected at USD 3.79 billion by 2030 at a 15.7% CAGR) and bioenergy with carbon capture (USD 20.1 billion by 2033) — provide structural tailwinds, but the residual Canadian entity's standalone commercial trajectory is unclear following delisting.
CO2 Solutions firmographics
Firmographics- Name
- CO2 Solutions
- Legal name
- SAIPEM SpA
- Website
- https://co2solutions.com
- Company type
- Private
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- CO2 Solutions Inc is a Quebec-based carbon capture technology company that has developed a proprietary enzymatic, non-toxic solvent process to capture CO2 from industrial sources including power, cement, refining, and paper mills, with the technology now commercialized through Saipem SpA's CCUS portfolio.
- Ownership category
- akta.pro rank
CO2 Solutions industry classification
Industry- Product category
- Carbon Capture Technology
- NAICS
- Chemical Manufacturing (325), Basic Chemical Manufacturing (3251)
- SIC
- Industrial Inorganic Chemicals (2810)
- akta.pro primary industry
- Chemical Looping Combustion/Reforming (Oxygen Carrier-based Capture) (EUABAGAH)
- akta.pro secondary industries
- Carbon Capture for Waste-to-Energy (Post-combustion capture, CO2 conditioning) (EUAAAKAM), Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF)
Keywords
Where CO2 Solutions is headquartered
LocationHeadquarters
- HQ city
- Quebec
- HQ country
- Canada
- HQ region
- North America
Markets served
CO2 Solutions business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales
Distribution channels1 record
Marketing channels3 records
CO2 Solutions product offering
Product offeringCore offering
CO2 Solutions is an enzymatic carbon capture technology platform that uses a non-toxic, enzyme-based solvent to capture CO2 emissions from industrial processes. The technology leverages low-grade waste heat for energy-efficient operation and has been validated at TRL 8 in a paper mill application. It is offered to industrial operators in power generation, cement production, refining, and pulp and paper sectors as a customized solution for emission reduction and regulatory compliance.
Product overview
CO2 Solutionsᵀᴹ by Saipem is a unified enzymatic carbon capture technology platform designed to reduce CO2 emissions from industrial processes. The portfolio consists of the core CO2 Solutionsᵀᴹ enzymatic capture technology (validated at TRL 8 in a paper mill application), the Bluenzyme 200™ product for capturing CO2 in gaseous and liquid forms, and the ACCSESS innovation project for ongoing sector-specific testing. The technology leverages non-toxic solvents and low-grade waste heat to achieve cost-effective carbon capture across power generation, cement production, and refining sectors.
Differentiator
Problem solved
Functional benefit
Products and services
- CO2 Solutions™ by Saipem Enzymatic carbon capture technology platform designed to capture CO2 emissions from industrial processes. Uses a non-toxic enzyme-based solvent, operates on low-grade waste heat, and has achieved TRL 8 validation at a paper mill. Targeted at industrial operators in power generation, cement production, refining, and pulp and paper sectors seeking emission reduction and regulatory compliance.
- Bluenzyme 200™ Complementary CO2 capture solution capable of capturing carbon dioxide in both gaseous and liquid forms, extending the CO2 Solutions™ enzymatic technology portfolio with dual-phase capture capability for industrial applications.
Quantifiable outcome
- High selectivity and stability achieving effective CO2 emission reduction meeting stringent regulatory requirements
- +1 more outcomes
Companies that use CO2 Solutions
Customer profileSegments4 records
Ideal customer profiles4 records
CO2 Solutions technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
CO2 Solutions partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ACCSESS Project ConsortiumcoreCO2 Solutions technology is being tested and validated within the ACCSESS innovation project across different industrial sectors and applications. ACCSESS is a collaborative EU-funded initiative focused on advancing carbon capture technologies.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
CO2 Solutions competitors and assessment
Company assessmentDirect peers
- Climeworks: Swiss direct air capture (DAC) company — broader CCUS peer serving corporate voluntary carbon removal demand; competes for the same sustainability capex budgets as point-source solutions like CO2 Solutions.
- Aker Carbon Capture: Norwegian CCUS technology vendor offering post-combustion amine-based capture systems for cement, power, and industrial emitters — directly comparable technology category and customer base to CO2 Solutions' enzymatic platform.
- Carbon Clean: UK-based CCUS point-source capture technology vendor with installed industrial references in cement, refining, and steel — directly competes for the same industrial capture tenders as CO2 Solutions.
- LanzaTech: Biotech-platform carbon company using gas-fermenting microbes to convert CO2 and industrial off-gases into fuels and chemicals — closely analogous in using a biological/enzymatic approach to industrial CO2 valorization.
Emerging players
- ION Clean Energy: US emerging CCUS vendor with proprietary solvent for industrial post-combustion capture — directly comparable technology-niche (non-amine solvent capture) competing for the same point-source capture projects.
- Carbios: French biotech company using enzymatic processes for plastics recycling — comparable as an enzyme-based industrial processing platform company with similar technology risk/return profile to enzymatic CO2 capture.
Broad incumbents
- Honeywell UOP (Sustainable Technology Solutions): Large industrial process technology incumbent offering licensed CO2 capture (amine/SolventBS) solutions for hydrogen, refining, and power — much larger portfolio vendor competing in the same industrial CCUS license market.
- Mitsubishi Heavy Industries (CCUS): Japanese industrial conglomerate with the KM-CDR amine-based post-combustion capture technology and EPC delivery capability — broadly comparable as a large incumbent offering full-scope CCUS EPC to industrial emitters.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
CO2 Solutions social profiles
Digital presenceCO2 Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
CO2 Solutions leadership team
Management profileNumber of profiles
Profiles2 records
CO2 Solutions funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CO2 Solutions M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CO2 Solutions
What does CO2 Solutions do?
CO2 Solutions is an enzymatic carbon capture technology platform that uses a non-toxic, enzyme-based solvent to capture CO2 emissions from industrial processes. The technology leverages low-grade waste heat for energy-efficient operation and has been validated at TRL 8 in a paper mill application. It is offered to industrial operators in power generation, cement production, refining, and pulp and paper sectors as a customized solution for emission reduction and regulatory compliance.
Is CO2 Solutions a public or private company?
CO2 Solutions is a private company. It is classified as corporate owned and is currently operating.
When was CO2 Solutions founded?
CO2 Solutions was founded in 1997. It employs 11 to 50 people.
Where is CO2 Solutions based?
CO2 Solutions is headquartered in Quebec, Canada, in the North America region.
Who are CO2 Solutions's main competitors?
Direct peers on record are Climeworks, Aker Carbon Capture, Carbon Clean and LanzaTech. Emerging players are ION Clean Energy and Carbios. Broad incumbents are Honeywell UOP (Sustainable Technology Solutions) and Mitsubishi Heavy Industries (CCUS).
Does CO2 Solutions have an API?
No public API is recorded for CO2 Solutions.
What industry is CO2 Solutions in?
CO2 Solutions's product category is Carbon Capture Technology. Its primary akta.pro industry code is EUABAGAH, Chemical Looping Combustion/Reforming (Oxygen Carrier-based Capture), with a secondary code of EUAAAKAM, Carbon Capture for Waste-to-Energy (Post-combustion capture, CO2 conditioning). Its NAICS code is 325 and its SIC code is 2810.