VANCOUVER–(BUSINESS WIRE)—February 14, 2023—Svante, a leading carbon capture & removal technology solutions provider based in British Columbia, Canada, announced today that its executive team continues to expand and adapt to the company’s next phase of growth. Matthew Stevenson is transitioning from CFO to the new role of Chief Revenue Officer (CRO), and Andrew McLeod has joined as Chief Commercial Officer (CCO) and General Counsel.
“As a growth-focused company, we want to ensure that all elements of our business are ready and able to support our rapid scaling, especially those that impact revenue generation and commercial partnerships,” said Claude Letourneau, Svante’s President & CEO. “I’m pleased to welcome Andrew to the team and announce the appointment of Matt to a broad mandate for leading the revenue side of the business. Matt will continue as acting Chief Financial Officer in the transition to the recruitment of a new CFO.
“The time has come to be boldly implementing leading edge technology to transform the impact of climate change on our planet. I am honoured to be a part of the Svante carbon capture solution”, said Mr. McLeod. “When Claude invited me to join as CCO and General Counsel, I did not hesitate. Svante has a 15-year first-mover advantage and has built key strategic relationships across the CCUS value chain, positioning it as a leader in providing commercial solid sorbent carbon capture & removal solutions.”
Bringing over 25 years’ experience as a corporate lawyer, Andrew will oversee Svante’s global corporate and legal affairs including commercial support, contract management, IP and risk management, corporate finance, M&A, and Governance & Board Affairs.
As CRO, Matt will be responsible for overseeing the partnerships, people, processes, and systems that represent Svante’s revenue generation “engine”. He will serve as the steward of Svante’s business model and customer value proposition. This includes driving initiatives to increase revenue and to identify and execute strategies that will generate sales—increasing installed client base sales and broadening Svante’s overall client base. Matt will lead efforts to establish new strategic partnerships and grow existing relationships, as well as identify opportunities for expansion into promising new markets.
“It has been exceptionally rewarding to partner with Claude and the amazing team we have here at Svante over the last several years to build this Company into a credible solution for hard to abate CO2 emissions”, said Mr. Stevenson. “With the capital secured for our go-to market strategy, I look forward to the new challenge of scaling revenue, leveraging partnerships, and providing our customers with unique opportunities to capture and remove CO2 via world-leading technology”.
The CRO will be responsible for all revenue-related functions including strategic accounts management, sales and marketing, channel to market partnerships with EPC’s and project developers, customer support services, technology licensing and project delivery, as well as Svante’s Digital Business strategy, which ensures that all these activities are executed via scalable platforms aligned with Industry 4.0 principles.
Since its founding in 2007, Svante has grown to employ over 200 professionals and has become a leader in developing solid adsorbent materials, including novel metal-organic frameworks (MOFs) for its nanoengineered carbon capture filters. The company has attracted customers, investors, and partners from large organizations around the world and has been named in the prestigious Global Cleantech 100 report since 2019.
In December 2023, Svante raised US$318 million, the largest fundraising round to date for a point-source carbon capture solutions provider. With these funds, Svante is building its new world headquarters, The Centre of Excellence for Carbon Capture & Removal, which will house its R&D and filter manufacturing facilities. Claude Letourneau says The Centre of Excellence will enable the company to launch a series of commercial-scale carbon capture projects around the world that will capture 100 million tonnes of CO2 per year before 2030.
Svante offers companies in emission-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be used for further industrial use in a closed loop. With the ability to capture CO2 from industrial sources and directly from the atmosphere in an environmentally sustainable way, Svante makes industrial-scale carbon capture and carbon removal a reality. The company is on the 2023 Global Cleantech 100, and was ranked second among private companies in the Corporate Knights Future 50 Fastest-Growing Sustainable Companies in Canada. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu. To learn more about Svante, click here or visit Svante’s website at www.svanteinc.com. You can also connect with us on LinkedIn or Twitter @svantesolutions.
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