Delta CleanTech Announces Strategic Focus on CO2 Capture Following its Successful Financing
Calgary, Alberta — Delta CleanTech Inc. (“Delta” or the “Company”) is today announcing its strategic focus on CO2 capture following its acquisition of the CO2 capture and solvent reclaiming division and operating assets of HTC Extraction Systems (“HTC”).
The Company has also completed a non-brokered private placement capital raise of over $7.5MM to increase Delta’s commercial capacity to provide its clean technology product offer from its new Calgary-based headquarters.
Delta offers engineering and process design services for CO2 capture plants and works with local original equipment manufacturer (OEM) fabricators and contractors to have these manufactured, installed, and commissioned.
“With the recent downturn in the oil and gas business in Alberta, energy services contractors are now seeing CO2 capture and solvent reclaiming as a logical extension to their existing energy equipment fabricating services business,” said Jeff Allison, President of Delta CleanTech.
“There has been a recent surge in new CO2 capture projects, and these new projects are being driven by increased carbon taxes, environmental and social governance (ESG) requirements, and increased CO2 mitigation funding provided by both the Alberta and Canadian Governments.
We expect to see this trend continue.”
The Globe and Mail reported on March 7, 2021 that the Alberta government intends to seek $30 billion in federal funding via spending or tax incentives over the next decade for large scale industrial carbon capture projects.
Delta and HTC are recognized globally as experts in CO2 capture and solvent reclamation, and have participated in many of the larger CO2 capture projects world-wide over the last 15 years including projects in Norway, Scotland, Italy, United States, and Canada.
“Delta intends to maintain its leadership position in CO2 capture in Alberta and beyond. We recognize how crucial this function is not only to our industry and community, but also to the world at large.
We are living through a transformational point in history, and we are excited to be leading the way into a cleaner and more sustainable future,” added Allison.
About Delta CleanTech Inc.
Delta CleanTech Inc. (“Delta” or the “Company”), is a global leader in Environmental Social Governance (ESG) solutions including CO2 Capture; Solvent, Ethanol & Glycol Reclamation, and Hydrogen Fueling Infrastructure.
The Company has over 17 years of experience in the clean energy sector providing ESG-driven, Identity Preserved Waste (“IPW™”) Solutions.
Delta’s proprietary CO2 Capture System, Delta Low-Cost Design (“LCDesign®”), has been designed to significantly reduce the cost of CO2 capture and improve the quality of captured CO2.
CO2 emissions from generators are captured using Delta’s technology and can be used for new CO2 utilization technologies such as ethanol production (AirCO), building materials (CarbonCure), carbon nanotubes (C2CNT), advanced bio plastics (CERT) and Enhanced Oil Recovery (EOR). Visit https://deltacleantech.ca/ for more information.
