Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - CO2 Lock Corp. ("CO2 Lock" or the "Company"), a leader in permanent carbon mineralization and storage, is pleased to share a comprehensive operations update, including progress on its flagship Sam project near Prince George, British Columbia.
Over the past 12 months, CO2 Lock has made significant strides toward commercializing its innovative permanent carbon mineralization and sequestration technology. The Company has completed the technical and regulatory planning for a multi-well pilot program, including the submission of a Carbon Capture and Storage ("CCS") Exploratory Reservoir Licence from the BC Ministry of Energy and Climate Solutions. This program builds upon previous successful fieldwork and is designed to leverage the key aspects of CO2 injection, mineralization rates, and long-term monitoring at the SAM site for commercialization.
In parallel, CO2 Lock has secured several commercial milestones:
- Letter of Intent with Cielo Carbon Solutions and Carbon Quest outlining the framework for capturing and sequestering 100,000 tonnes of CO2 per year, with the goal of scaling up to a target of 1 million tonnes per year.
- Memorandum of Understanding with Ionada Carbon Solutions LLC to pursue a variety of commercial arrangements relating to the capture and storage of carbon dioxide and the related sale of carbon credits into the commercial market.
- An agreement with EmitIQ, a leading carbon offset buyer, to support full-chain sequestration-from capture to permanent storage and offset sales.
These commercial agreements are expected to position the Company as one of Canada's first end-to-end in-situ carbon storage projects.
To support these efforts, CO2 Lock completed a $1.6 million (CAD) SAFE (Simple Agreement for Future Equity) financing, which was filled by current shareholders. Proceeds from this round have supported continued fieldwork, engineering, and regulatory advancement at the SAM site. The Company has now launched a Series A financing round, which will fund the planned pilot program and further accelerate CO2 Lock's go-to-market activity.
"This has been a pivotal year for CO2 Lock," said Scott Larson, CEO. "We've built the partnerships, technical foundation, and regulatory pathway needed to bring in-situ carbon mineralization to market. With the SAM project moving toward pilot implementation, we are on track to become a first mover in delivering verifiable, permanent carbon removal at scale."
"The SAM project is emerging as one of the most promising global locations for carbon mineralization," added Dr. Nader Mosavat, Chief Technology Officer. "It brings together the right geology and geography. In addition to having an ideal brucite-rich ultramafic rock setting, the site is located near multiple large sources of CO2 emissions in the Prince George area-an industrial hub with limited alternative options for carbon storage. This unique combination offers a practical and scalable path to large-scale, permanent CO2 removal."
CO2 Lock looks forward to sharing additional updates on its licensing, pilot implementation, and commercial partnerships in the months ahead.
For more information, visit www.co2lock.com.
About CO2 Lock Corp.
CO2 Lock Corp. is developing permanent carbon storage projects using in-situ carbon mineralization. The company targets very specific brucite-rich ultramafic rocks, which naturally mineralize CO2 to form solid carbonate minerals at a much greater speed and quantity than other ultramafic rocks. This ensures safe and permanent carbon sequestration. CO2 Lock has targeted sites in Canada, the USA, Europe, and Australia.
About CO2 Lock's SAM Project
Our flagship SAM project is located 50 kilometres southwest of Prince George, British Columbia. Mineralization is planned to scale up to 1 million tonnes annually of safe and permanent carbon storage. The project will create jobs, harness existing infrastructure and feedstock, and enable us to continue working closely with regional partners and Indigenous communities to deliver climate impact at scale.
For further information, please contact:
Scott Larson
Chief Executive Officer, CO2 Lock Corp.
info@co2lockcorp.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253800
SOURCE: CO2 Lock Corp.
