VANCOUVER, BC, Nov. 8, 2022
/CNW/ - FPX Nickel Corp. (TSXV: FPX) (OTCQB:
FPOCF) ("FPX" or the "Company") is pleased to
announce the appointment of Dr. Nader
Mosavat as the Chief Technical Officer of its carbon capture
and storage ("CCS") subsidiary company, CO2 Lock Corp
("CO2 Lock"). The Company is further pleased to report
that CO2 Lock has been accepted into the Climate Stream at Creative
Destruction Lab, ("CDL") a prestigious global technology
accelerator program focused on massively scaleable science and
technology companies, located at the University of British Columbia ("UBC").
"We are very pleased to welcome Dr. Mosavat aboard as CO2 Lock's
new Chief Technical Officer, who will leverage his extensive
academic and practical experience in geological storage of carbon
dioxide to lead CO2 Lock's technical programs and team," commented
CO2 Lock's CEO, Cooper Quinn.
"As well, CO2 Lock's acceptance into CDL – one of the climate
technology industry's most prominent startup accelerator programs –
signifies a major validation of our technology approach, and serves
as an ideal springboard to rapidly push CO2 Lock towards achieving
gigaton-scale carbon mineralization utilizing our unique approach
to CCS in ultramafic rocks around the planet. We expect the
importance of CCS to be highlighted at the ongoing COP 27 climate summit and believe CO2 Lock can
contribute to developing scalable technologies to address climate
change."
On March 30, FPX announced the
formation of CO2 Lock to pursue geoscience-related CCS
opportunities. Building on five years of laboratory and field
research conducted with partners including UBC and Natural
Resources Canada, CO2 Lock is focused on developing CCS operations
in geological settings worldwide with similarities to FPX's Decar
Nickel District. CO2 Lock has established ownership interests
in prospective mineral tenures and is developing intellectual
property associated with the operation of CCS sites worldwide.
Dr. Nader
Mosavat – Background
Dr. Nader Mosavat has a combined
technical background and leadership experience of over 12 years in
academia and industry. He has led diverse teams of scientists
and engineers using process modeling, techno-economic analysis, and
lifecycle assessment to scale up a variety of innovative
technologies in the fields of CCUS, Energy, and Environment.
Most recently, he served as Muscat University's Faculty Director,
where he oversaw several programs in Engineering and Technology,
led numerous industrial R&D projects, and served as chair of
various committees and boards in the areas of research, industry
engagement, strategic R&D, and commercialization. Dr.
Mosavat received his PhD from the University
of Regina in Petroleum Systems Engineering. He holds
two BSc degrees in Mechanical Engineering and Oil and Gas
Engineering and an MSc in Chemical Engineering.
Creative Destruction Lab –
Background
Creative Destruction Lab is a non-profit organization that
delivers an objectives-based program for massively scalable
science- and technology-based companies. CDL operates 12 locations
globally, including at UBC's Sauder
School of Business. Since CDL's founding in 2012, the
successful commercialization of cutting-edge science and technology
achieved through the program has led to the creation of over
$19 billion in equity value.
CO2 Lock has been admitted to the CDL Vancouver's
Climate Stream, which has been designed for technical
founders developing high impact, scalable solutions that
tackle climate change and environmental degradation, and to help
preserve and protect our natural world.
CO2 Lock will work with CDL's experienced entrepreneurs and
investors to sharpen objectives, prioritize time and resources,
raise capital, and engage with experts working on the frontiers of
climate research. With the benefit of CDL's process and structure,
CO2 Lock aims to accelerate the commercialization trajectory of its
technology approach to large-scale, low-cost carbon
mineralization.
About CO2 Lock Corp.
CO2 Lock's vision is to commercialize the CCS potential of
ultramafic brucite-rich serpentinized peridotite host rocks, with a
mission to license or construct and operate commercial CCS projects
capable of permanently and profitably locking away hundreds of
millions of tonnes of CO2 per year at scale. In pursuit of
this objective, CO2 Lock will execute exploration and engineering
activities to advance the development of large-scale carbon
operations capable of mineralizing carbon dioxide in these rocks
and associated carbon-depleted waters both at-surface (ex-situ
mineralization) and underground (in-situ mineralization). CO2
Lock's website is accessible at www.co2lockcorp.com.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and
development of the Decar Nickel District, located in central
British Columbia, and other
occurrences of the same unique style of naturally occurring
nickel-iron alloy mineralization known as awaruite. For more
information, please view the Company's website at
www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604)
681-8600 or ceo@fpxnickel.com.
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and
Director
Forward-Looking
Statements
Certain of the statements made and information contained
herein is considered "forward-looking information" within the
meaning of applicable Canadian securities laws. These statements
address future events and conditions and so involve inherent risks
and uncertainties, as disclosed in the Company's periodic filings
with Canadian securities regulators. Actual results could differ
from those currently projected. The Company does not assume the
obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
SOURCE FPX Nickel Corp.