ORLANDO, Fla., July 1, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc. today announced it has issued a first quarter 2008 research update on Carbon Sciences, Inc. (OTCBB:CABN), a company engaged in developing its GreenCarbon(tm) Technology which converts harmful carbon dioxide into useful carbon products.
Neha Bhargava, MBA, RedChip Research Analyst, reported:
"CABN has recently announced the first application of its breakthrough technology whereby it plans to convert CO2 into Precipitated Calcium Carbonate (PCC), a valuable chemical compound that can be used in the manufacturing of paper, paint, pharmaceutical products, rubber, adhesives, and plastics. GreenCarbon PCC is cost effective, as it uses inexpensive raw material and can be used as a standalone or satellite plant to existing PCC operations of target customers.
"We believe CABN stock will gain as the Company's new business strategy focusing on the PCC market will enable it to report revenues earlier than our previous estimates. Growing demand for PCC products and the demand-supply gap are the positive catalysts for CABN stock," Bhargava continued.
"CABN's plan to produce PCC to position itself in the CO2 mitigation market, which is estimated to reach $400 billion by 2030, confirms our positive viewpoint of CABN's technology. Even the political scenario that has undergone a radical change supporting CO2 mitigation regulations favors CABN. We reiterate our 'Speculative Buy' rating on CABN and are revising our 12-month target price to $0.85," she concluded.
To receive a complimentary copy of the RedChip Visibility 1Q08 Research Report for CABN, visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=120&from=07012008pr
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