The Florida Institute for the Commercialization of Public Research (the Florida Institute) announced today that it has finalized a funding agreement with Partnering in Innovation, Inc. (Pi-Innovation), an Orlando-based company with technology developed at NASA Kennedy Space Center. The Florida Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.
Pi-Innovation offers a revolutionary carbon capture technology, capturing carbon dioxide (CO2) from industrial emissions for sale and beneficial use in multiple markets ranging from processing to enhanced oil recovery (EOR). The technology has break-through potential in terms of reducing total system costs and environmental risks.
“CO2 is typically thought of as a waste emission and an overabundant greenhouse gas but it can also be a valuable product,” said Kathleen O’Neil Pi-Innovation Chief Executive Officer. “We have a global team with funding from groups in the US, France and Australia, which will enable us to offer clean energy technology that not only promises to reduce costs but also has the potential for integrated removal of other pollutant emissions (including sulfur and mercury oxides).”
“By capturing CO2 emissions Pi-Innovation is offering a way to reduce global greenhouse gases and create a more sustainable environment,” said Jackson Streeter, MD, Florida Institute Chief Executive Officer.
Source: Florida Institute Funds Orlando-based Partnering in Innovation, Inc.
