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Skyonic Receives $500,000 CAD to Support SkyCycle Pilot Plant
AUSTIN, Texas, April 16, 2014 /PRNewswire/ -- Today, Skyonic Corporation, an Austin-based carbon-capture technology company, announced it has been selected to receivea $500,000 CAD grant from the Climate Change and Emissions Management Corporation (CCEMC), an Alberta-based non-profit that provides ongoing, dedicated funds to reduce greenhouse gas emissions and adapt to climate change through investments in the discovery, development and deployment of transformative technology. The funding will support the continued research and development of the pilot plant for Skyonic's SkyCycle technology.
"We are working quickly to bring SkyCycle to scale," says Joe Jones, CEO, president and founder of Skyonic. "SkyCycle was designed to put profitable carbon-capture technology in the reach of any stationary emitter. We're continuing to drive the cost of carbon capture down below the level where it becomes an economically viable solution, as well as expanding the market for our outputs by producing a different set of carbon-negative mineral byproducts."
SkyCycle is Skyonic's third offering in their suite of emissions management technologies. The company's patented electrolytic carbon capture process SkyMine is being deployed at a commercial scale at the Capitol Aggregates Cement Plant in San Antonio, where it is expected to be fully operational later this year. The plant will be the first commercial-scale carbon capture and mineralization plant in the United States.
SkyCycle is a thermolytic mineralization technology, producing primarily calcium carbonate, limestone, and hydrochloric acid. The technology is currently being demonstrated at the Capitol Aggregates Cement Plant. Both SkyCycle and SkyMine operate at a significantly lower cost and energy penalty than other carbon capture technology, while driving profits through carbon-negative product sales, making them economically viable solutions to address the requirements of carbon dioxide emissions regulations.
Skyonic has garnered support from investors including Northwater Capital Management, ConocoPhillips, BP and PVS Chemicals, Cenovus Energy, BlueCap Partners, Toyo-Thai Corporation Public Company Limited, Carl Berg, and Zachry Corporation.
About Skyonic Corporation
Skyonic Corporation builds new and retrofittable plants that produce carbon-negative chemical products at the lowest cost, while mineralizing industrial CO2 emissions and scrubbing SOx, NOx and mercury. The company's SkyMine and SkyCycle technologies are designed to economically extract and mineralize carbon dioxide from industrial flue gas into products, such as baking soda, hydrochloric acid and limestone, at a commercial scale.The company's limestone scrubber, SkyScraper, also removes SOX, NOX, mercury and other heavy metals. These carbon chemistry processes have a two-fold effect, not only driving profit through the sale of products, but also helping to mitigate the effects of industrial pollution and close the carbon cycle. The company is building the nation's first commercialscale carbon capture and utilization facility at Capitol Aggregates, Inc. with support from ConocoPhillips, BP, Northwater Capital and PVS Chemicals. Skyonic was founded in 2005 by inventor and CEO, Joe Jones and is located in Austin, TX. For more about how Skyonic produces solid returns from clean air, visit http://www.skyonic.com
SOURCE Skyonic Corporation
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