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Posted: June 27, 2008
CSMG Technologies Acquires Carbon Capture Technologies, Inc. from UTEK Corporation
(Nanowerk News) UTEK Corporation (AMEX & LSE-AIM: UTK), an innovation services company, and CSMG Technologies, Inc. (OTCBB: CTGI), a technology management company, are pleased to announce that CSMG Technologies has acquired Carbon Capture Technologies, Inc., a wholly owned subsidiary of UTEK, in a stock transaction.
Carbon Capture Technologies Inc. holds a worldwide exclusive license to a composition and method for use of a novel Carbon Dioxide (CO2) adsorbent. Researchers at the University of Ottawa have developed recyclable CO2 adsorbents based on surface modified nanoporous silicas. The materials show high adsorption capacity that is both fast and reversible, allowing it to be reused repeatedly in a high throughput periodic cyclic adsorption process. The adsorbents can be used in both wet and dry environments, potentially eliminating significant engineering challenges. The potential uses for the technology include capturing the bulk of C02 emissions from coal-fired power plants in order that these greenhouse gasses could be sequestered and thus reduce the carbon footprint of such facilities, as well as surgical and mine rescue applications.
“Given the technology’s ability to operate at lower temperatures and pressures, the tolerance of the University of Ottawa’s novel materials to water vapors and their recyclability, we believe that this technology is significantly more efficient than current liquid amine based methods and other absorption systems for capturing a pure stream of CO2,” said Dr.Sayari, Professor of Chemistry and Chemical Engineering at the University of Ottawa.
“We are very excited about working with CSMG as they work to develop and commercialize our technology,” said Mark Pearson, Technology Transfer Officer at the University of Ottawa.
Commenting on the acquisition, President and CEO of CSMG Technologies, Donald S. Robbins, said, “We are very excited about the addition of this new CO2 gas separation technology to our stable of products. There are a number of possible commercial applications for the technology, the largest of which is an ability to capture a relatively pure stream of CO2 from stack gasses emitted by coal-fired utility plants. Thus we could enhance the ability of these utility companies to efficiently dispose of, or sequester, this greenhouse gas. Additional future applications CSMG will seek to develop and market are for closed circuit re-breathing apparatus, such as are used in hospital operating rooms; by fire and mine rescue personnel; and, by U.S. Navy divers in covert operations.”
"UTEK is pleased to consummate this technology transfer with CSMG," said Joel Edelson, Vice President of Technology Licensing at UTEK Corporation.
About the University of Ottawa
The University of Ottawa is one of Canada's leading research-intensive universities - we are uncompromising in our dedication to fostering excellence in research. Our university is committed to its world-class researchers and to the people who benefit from their ground-breaking research. For more information about the University of Ottawa, please visit its website at www.uottawa.ca.
About CSMG Technologies, Inc.
CSMG Technologies, Inc. is a technology management company that finances, owns, develops, licenses and markets innovative advanced technologies and business opportunities, through a network of scientific institutes and private organizations for large growing markets. For more information about CSMG, please visit its website at www.csmgtechinternational.com.
About UTEK Corporation
UTEK® is an innovation services company. UTEK’s services enable clients to become stronger innovators, rapidly source externally developed technologies and create value from their intellectual property. UTEK is a business development company with operations in the United States and the United Kingdom. For more information about UTEK, please visit its website at www.utekcorp.com.