Hyperion Global Energy Corp.

Hyperion Global Energy is creating what it calls the world’s first carbon recycling business, using an energy-efficient process to remove CO2 from smokestacks in a host of industries and turning it into minerals that can be used in everything from green building materials to pharmaceuticals.

The company’s strategy involves packing all of its gear needed to run the process into shipping containers, and setting them up at mining, energy and manufacturing facilities that emit greenhouse gases. The host producer needs to make no capital expenditures.

Hyperion then aims to supply a US$44-billion global market for the resulting materials, such as calcium carbonate. In some cases, manufacturers generating the CO2 will then be able to buy the minerals back to make their products.

“We have an energy-efficient process and life cycle, right from the inputs to the offtake that we create,” said Heather Ward, Hyperion’s co-founder and president. “This is plug-and-play technology, a drop-in unit that does not require new construction at the site.”

The minerals are non-toxic and Hyperion can adjust the purity basedonwhatcustomersneedfor their own products, which could be concrete, paper, plastics or fertilizers. The process creates two tonnes of minerals for every tonne of CO2 processed, and the material can sell for US$500 to US$2,200 a tonne, according to Hyperion.

The company’s journey began five years ago, when Ms. Ward teamed up with Jerry Flynn, who developed the technology, which they call the Tandem Carbon Recycling System. Earlier this year, theyjoinedforceswithLukeTucker, a military special operations veteran who is Hyperion’s CEO.

It’s a pivotal year for the company, which operates in Ottawa’s Bayview Yards innovation centre. Hyperion was a semi-finalist in the NRG COSIA Carbon XPRIZE, proving with its prototype that it was able to process a tonne of CO2 a week. Hyperion is now pushing that up to one tonne a day as it builds a pilot system. Later this year, it will work with industrial customers in a path to 20 tonnes a day and beyond.

Meanwhile, it received $100,000 in seed funding from Crown-owned Sustainable Technology Development Canada, secured close to $1-million through Ottawa-based Capital Angel Network and won a $770,000 grant from the Natural Gas Innovation Fund. Hyperion also scored funding from Norway’s Equinor & Techstars Energy Accelerator.

Ms. Ward said the money to develop the technology has allowed Hyperion to hit its stride just as global investment in carbon utilization is reaching a tipping point.

“Once we have our commercial system running at a plant, the worldwillbeouroyster. We’llhave proven the technology at an industrial demonstration,” she said.