General Electric’s (GE – Free Report) unit, GE Gas Power, has entered into a joint development agreement (JDA) with the Canadian company, Svante, to develop and evaluate solid sorbent-based carbon capture technology for natural gas power generation applications. Simultaneously, GE made an equity investment in Svante for the latter’s U.S. $318-million Series E fundraising round in December 2022.
The agreement is a part of General Electric’s sustainability initiatives to drive energy transition by investing in crucial technologies like carbon capture, which can help significantly reduce emissions.
