Further Update on S4CO2/BARD Algae Development JV
September 11, 2012
olutions4CO2 Inc. of Toronto, Ontario, Canada, has issued what they say is a final update to its August 21, 2012, announcement regarding its joint venture and design-build-maintenance agreements with BARD Holding, Inc.
Following detailed discussions with BARD and its advisors regarding BARD’s proposed restructuring plan, S4CO2 has determined that it is very unlikely that BARD is currently in a position to meet their contractual obligations under the Agreements. As a result, S4CO2 is reviewing its legal options at this time.
S4CO2 continues to advance discussions with multiple potential partners in line with its strategy to pursue design-build-maintenance and joint venture opportunities in Canada and the U.S. in the areas of bio gas separation and utilization of CO2, supercritical CO2 extraction and the processing of waste streams including CO2, wastewater and organic waste into high value added co-products.