Dec 15 (Reuters) – U.S. oil company Chevron (CVX.N) has led a $318 million fundraising round for Canada-based Svante, which develops filters to capture industrial carbon emissions for storage or reuse, the companies said on Thursday.
Scaling early-stage technologies like carbon capture and storage is essential to helping the world reach its climate goals, and many oil majors have made this central to their net-zero strategies.
The deal is the largest North American raise for a carbon capture tech company to date, JPMorgan told Reuters. The bank acted as co-placement agent with RBC Capital Markets.
