Project Aims To Further Scale-Up and Validate ION's Proprietary CO2 Capture Technology

BOULDER, Colo., Aug. 9, 2016 — (PRNewswire) —  ION Engineering, a leading carbon capture technology company, today announced a test agreement with Technology Centre Mongstad (TCM), the world's largest and most advanced carbon capture test facility located at Statoil's Mongstad refinery in western Norway.

This next step in the development of ION's liquid absorbent system is the continuation of a multi-year Cooperative Funding Agreement with the U.S. Department of Energy's National Energy Technology Laboratory (NETL). In total, ION will receive over $16 million in funding from NETL.  Previously, ION successfully completed testing of its technology at the National Carbon Capture Center (NCCC) at the pilot scale in 2015.

The collaborative project between TCM, ION, and NETL, will demonstrate ION's liquid absorbent system at TCM's existing 12 MWe test facility that utilizes industrial flue gases to simulate coal-fired conditions. Starting in October this year, this test program aims to further validate ION's leading capture technology and its readiness for commercial scale deployment. 

Alfred "Buz" Brown, ION's CEO said, "Technology Center Mongstad is an ideal environment that allows us to validate our process at a large industrial test facility. The opportunity to test at TCM represents the final step in our ability to deploy our technology at commercial scale."

About ION Engineering

ION Engineering is developing carbon dioxide (CO₂) capture technology to reduce overall costs and make CO₂ capture a more viable option for greenhouse gas mitigation.  The Company is commercializing proprietary solvent and process technology for use by large point sources including natural gas and coal-fired power plants safer and more efficiently than current commercial solutions. ION is currently working with local and global partners to deploy its carbon capture technology in commercial settings. Following successful testing at Technology Centre Mongstad, ION is targeting commercial demonstration of its technology beginning in 2017.

Find more information at www.ion-engineering.com.

About Technology Centre Mongstad DA

Technology Centre Mongstad (TCM) is the world's largest and most advanced facility for testing and improving CO₂ capture. TCM is a joint venture set up by the Norwegian state (75.12%), Statoil (20%), Shell (2.44%) and Sasol (2.44%). It aims to increase knowledge on carbon capture technologies, in order to reduce technical and financial risk, and accelerate the development of qualified technologies capable of large scale international deployment. 

The center comprises two CO₂ capture plants each with a capacity to capture approximately 80,000 tons of CO₂ from the nearby refinery or 20,000 tons from a gas-fired power plant. In addition, the center has available space and infrastructure to sustain the next generation technologies to be tested in the future.

More information on TCM can be found at  www.tcmda.com.

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SOURCE ION Engineering

Contact:

ION Engineering Technology Centre Mongstad (TCM) Patrick Wheeler, Chief Financial Officer, 303.997.7097 Email Contact Web: http://www.ion-engineering.com