HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) today announced that HTC’s patented extraction technology has been selected to supply extracted CO2 for the prestigious $20 million NRG COSIA Carbon Xprize competition. According to the update, the four-and-a-half-year global Xprize competition challenges teams to transform the way the world addresses carbon dioxide (“CO2”) emissions through breakthrough circular carbon technologies that convert carbon dioxide emissions from power plants into valuable products. Ten teams from five countries were selected to advance to finals after passing a first-round evaluation based on the amount of CO2 converted into products, as well as the economic value, market size and CO2 uptake potential of those products. In the finals, teams must demonstrate at a scale that is at least 10 times greater than the semifinals requirements at one of two purpose-built industrial test sites. HTC has been selected to provide the extracted CO2 for the Alberta Carbon Conversion Technology Centre (“ACCTC”), test facility, and has custom designed the HTC CO2 Extraction plant to provide the required CO2 as well as the flexibility for future CO2 extraction testing requirements. The plant is being engineered and fabricated with HTC partner ASCO CO2, with expected delivery of the CO2 Extraction Plant by April 2020.
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About HTC Extraction Systems
HTC Extraction Systems has developed and optimized proprietary technologies designed for biomass extraction, distillation and purification of ethanol and ethanol-based solvents used for the hemp-biomass and cannabidiol (“CBD”) industry as well as gas and liquid extraction. HTC’s extraction and purification systems are engineered to large scale to reduce capital and operating costs while delivering superior performance measured by reduced energy usage, lowered emissions and improved quality of the product produced. For more information, visit the company’s website at www.HTCExtraction.com.
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