S4CO2 joint ventures with Quinlan for omega-3/astaxanthin enriched oils
June 19, 2013
oronto, Ontario-based Solutions4CO2 Inc. (S4CO2) has announced finalizing a joint venture with Quinlan Brothers Ltd. (Quinlan), previously announced by the parties under a Letter of Intent dated March 22, 2013. Quinlan is a Canadian processor of cold water shrimp and snow crab, with its processing facility located at Bay de Verde, Newfoundland and Labrador. The JV will produce high value omega-3/astaxanthin enriched oils from cold water shrimp waste streams using S4CO2’s Bio-Extraction Process™.
Under the terms of the JV, Quinlan will provide the JV with exclusive rights to the Quinlan feedstock under a supply agreement and the JV will seek to secure additional feedstock supply from global sources beginning Q3 2013. S4CO2 will grant all rights and usage of its Bio-Extraction Process™, and all further improvements, to the JV for the purpose of conducting the business on an exclusive, no-fee, basis covering North America. The JV will outsource the majority of the processing of the Quinlan feedstock to toll processors until December 1, 2013, and will negotiate global off-take contracts for the sale of the 2013 products.
The JV will negotiate the toll-processing contract(s) for the 2013 production of the products with such contracts including quality assurance, packaging and labeling based on the off-take agreements. Quinlan and S4CO2 will refer all opportunities that come to its attention where the Bio-Extraction Process™ or the Quinlan Feedstock could be a viable solution exclusively to the JV.
S4CO2 develops innovative waste-gas, water, biomass to high-value co-product solutions using proprietary and licensed technologies under the trademarks Integrated Biogas Refinery™ (IBR) and Bio-Extraction Process™ (BEP). The IBR integrates technologies to convert various organic waste streams into high-value algae co-products. The BEP utilizes supercritical CO2 fluid extraction to extract and fractionate high-value co-products from shrimp by-products.
S4CO2’s business model allows the company to participate in joint-venture projects with partners across the waste-to-high-value co-product value chain, or sell projects on a design, build, operate and maintain basis. “We are delighted to be partnering with not only one of Canada’s largest shrimp processors, but also a leading innovator in the use of all the components of their shrimp catch,” said Randy Uens, VP Global Sales and Marketing of S4CO2 and President of the JV.
“We are pleased to have entered into this JV with S4CO2. It offers an environmentally friendly revenue stream from our shrimp by-product,” said Robin Quinlan, Vice President of Quinlan Brothers.