VANCOUVER, BC, Oct. 28, 2019 – Inventys Inc., a Canada-based company whose technology captures carbon directly from industrial sources at half the capital cost of existing solutions, is changing its name to Svante Inc., effective immediately.
Named after Nobel Laureate Svante Arrhenius, one of the first scientists to identify the atmospheric carbon-climate change connection, Svante is the first name in commercially viable, economically scalable, second generation carbon capture technology.
The new name signals the company’s evolution from a technology development company to a commercial enterprise, poised to help its customers transition to a net-zero carbon future.
A single 3,000 tonne-per-day (TPD) plant using Svante’s proprietary solid sorbent technology is capable of capturing more than one million tonnes of carbon annually – the equivalent to eliminating emissions from more than 200,000 cars per year or doing the job of 10 million trees. Svante’s technology is currently scalable from 30 TPD up to 5,000 TPD.
“The world is facing a global climate crisis because we emit more CO2 and greenhouse gases than the earth’s forests, oceans and other natural systems can absorb,” said Claude Letourneau, President and Chief Executive Officer of Svante. “Svante’s cost advantage, combined with progressive policies like the United States’ 45Q tax credit, can make carbon capture profitable across a wide range of large-scale industrial applications such as cement, steel, plastic, fertilizers and hydrogen. And that means Svante is uniquely positioned to help governments and key global industries join the fight against climate change.”
Svante’s technology is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors. The CO2MENT Project – a partnership between LafargeHolcim and TOTAL S.A. – is building a 1 TPD plant in Richmond, BC that will re-inject captured CO2 into concrete as a storage solution, while the construction of a 30 TPD demonstration plant was completed this summer at Husky Energy’s Pikes Peak South thermal project in Saskatchewan, Canada.
“We are very pleased to be moving ahead and implementing our technology with industrial clients, demonstrating its effectiveness in combatting the rise of greenhouse gas emissions,” said Letourneau.
About Svante
Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be recycled for further industrial use in a closed loop. With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu; former Airbus Group’s Chief Technical Officer Jean Botti; and Ganesh Kailasam, Technical Director of the Oil and Gas Climate Initiative. Connect with us on Facebook or Twitter @svantesolutions.
For investor inquiries:
Julia McKenna
jmckenna@svanteinc.com
1 (778) 985 5722
For media inquiries:
Martin Cej
Partner, Longview Communications and Public Affairs
mcej@longviewcomms.ca
1 (587) 319 2828
