LONDON (ShareCast) - (ShareCast News) - Clean technology company Verditek announced on Thursday that its wholly owned subsidiary, Westec Environmental Solutions (WES), has licensed a company to commercialise one of its products.
Canadian company Industrial Climate Solutions Inc (ICSI) has been licensed on an exclusive worldwide basis to commercialise WES' patented carbon capture, natural gas processing, gas purification and indoor air quality technology.

Geoff Nesbitt, chairman and interim chief executive of Verditek, said: "This collaboration represents a significant step forward in the journey towards the industrial acknowledgment and adoption of WES' innovative CO2 capture technology. This is not just a significant moment for WES and the development of its patented technology but also a significant moment for cleantech as a whole."

The Regenerative Froth Contactor (RFC) technology will be used in the oil and gas sector as well as in the production of chemicals, pharmaceuticals and cement.

Richard Adamson, chief executive of ICSI, said: "The RFC technology developed at WES opens the door to significant size reductions and cost savings for post-combustion CO2 capture applications. This is a key enabling step in advancing carbon capture, utilisation and storage from demonstration projects to integrated regional industrial emissions management systems."

This step in the commercialisation of the RFC comes as the Canadian government pledged to invest nearly £0.8bn to help Canada's clean technology industry, create jobs and protect the environment.

As of 1624 GMT, Verditek's shares were up 1.69% at 7.50p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE