HTC Purenergy Inc. (HTC.V) said it signed a global licensing agreement with Doosan Babcock Energy of the UK, and Doosan Heavy Industries and Construction of South Korea for carbon capture and storage technology. The licensing agreement includes the right to use carbon capture and storage, products and technologies developed by HTC Purenergy in collaboration with University of Regina's International Test Centre for Carbon Dioxide Capture in Regina, Saskatchewan, Canada.
The company said in conjunction with the licensing agreement, Doosan Babcock and Doosan Heavy will subscribe to a C$10 million private placement for a 15% equity share ownership in HTC Purenergy and a seat on its board. HTC Purenergy intends to use the investment at the University of Regina to integrate leading edge CO2 capture technology and with supplemental engineering resources from Doosan.
by RTTNews Staff Writer
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