Published on: July 11, 2017
MAURICE SMITH, JWN
Inventys closes $10 million financing from Husky for heavy oil CO₂ capture techology
Burnaby, B.C.-based Svante (formerly Inventys Thermal Technologies) is moving forward with a 30-tonne per day pilot plant to capture CO2 at a Husky Energy steam generator for enhanced oil recovery after closing a $10 million equity financing led by the oil producer.
Svante’s next-gen CO2 capture technology will be deployed at Husky’s Pikes Peak South Lloyd thermal project near Lloydminster, Saskatchewan. The low-cost CO2-supply it provides will be used to enhance recovery of heavy oil from adjacent assets.
“This is the world’s first pilot-scale plant using structured adsorbents to capture CO2 from a once-through steam generator for use in heavy oil recovery,” Claude Letourneau, Svante’s president and chief executive officer, said in a statement.
“Canada offers the perfect setting to prove our second generation carbon capture technology, reduce carbon emissions, uphold Canada’s climate goals, create jobs and support industrial growth.”