Inventys – a Leading Developer of Commercially Viable, Economically Scalable Carbon Capture Technology – Changes Name to Svante Inc.

Pond Technologies and Svante execute MOU to jointly develop low cost carbon capture and carbon recycling projects

Inventys Completes its US$26M Series C Financing

 

Inventys, an advanced carbon capture technology company, has completed its US$26M Series C financing this month through a final subscription of US$10M by existing shareholders including OGCI Climate Investments and Business Development Bank of Canada’s (BDC) Cleantech Practice alongside Husky Energy, The Roda Group and Chevron Technology Ventures.

 

VANCOUVER, BC, Canada — Tuesday, June 25, 2019 — Inventys today announced that it has formally closed on an investment of US$10M from OGCI Climate Investments and BDC Cleantech Practice as well as an additional follow-on investment from existing shareholders Husky Energy, The Roda Group and Chevron Technology Ventures.  This brings total proceeds received under the Series C Financing to US$26M.

 

The funds will be used to complete the Company’s 30-tonne-per-day (TPD) CO₂ capture plant demonstration project with Husky Energy in Saskatchewan, Canada, currently in the commissioning stage and due to begin operations in Q3-2019. The funds will also allow the Company to focus on scale-up activities for the manufacturing of its filter beds and proprietary rotating adsorption machine at a larger commercial scale.

 

“Inventys’ breakthrough low-cost carbon capture technology using solid sorbent structured laminates will enable the market for certified zero- carbon hydrogen, steam and power from natural gas,” says Inventys President and CEO Claude Letourneau.  “We can produce low-cost pipeline-ready CO2 for storage/enhanced oil recovery (EOR) from atmosphere-bound CO2 from industrial and power plant sources, thus limiting the climate impact of the use of fossil fuels. We see this as part of the least-cost global energy transition – decarbonizing industrial processes and power plants to provide dispatchable backup to renewables and energy security.  Despite the fantastic build out of renewables, about 80{0c8abfa2ea4c1481fc7404eb644caece91d10241de6654f54ba95d19a8e78bd4} of global energy is still supplied by fossil fuels, about the same as half a century ago. Removing the CO2 emissions from this energy source is critical.”

 

“Carbon Capture and Storage (CCS) will play an essential role in meeting the goals of the Paris Agreement. OGCI CI is proud to support Inventys to bring to market a key building block for unlocking the growth and scaling of CO2 capture.” said Pratima Rangarajan, CEO of OGCI Climate Investments.

 

The additional follow-on investment of BDC in this financing round is part of BDC’s $700 million, five-year commitment announced in 2018 to help high-potential Canadian cleantech firms with market-ready technology or products meet the capital-intensive needs of scaling and achieving timely growth.

 

“Inventys is a shining example of the businesses we want to support within the clean technology ecosystem. By backing the best in Canadian clean technology, we are helping our most promising companies overcome financing obstacles and scale into global cleantech champions”, added Susan Rohac, Vice President, Cleantech Practice at BDC.

 

Inventys views this partnership with BDC’s Cleantech Practice as critical to reaching its goal of commercializing a first-of-its-kind, industrial-scale CO2 capture plant by the end of 2020, and the 30 TPD demonstration at Husky is a major milestone in implementing a very aggressive time-to-market strategy.

 

About Inventys

Inventys Thermal Technologies Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enabling the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Inventys is working to create new market spaces by leveraging its breakthrough carbon capture technology.

For more information, please visit www.inventysinc.com.

Contact: Julia McKenna, Inventys: E: julia.mckenna@inventysinc.com T: +1 (778) 985 5722

 

About OGCI Climate Investments

OGCI Climate Investments LLP is a $1+ billion fund investing in technologies and business models which lower the carbon footprint of the energy and industrial sectors and their value chains.  The Fund was created by the CEOs of the Oil and Gas Climate Initiative to take practical action on climate change.  We invest in innovative companies that are ready to be commercialized.  We collaborate with global co-investors and industrials to achieve speed and scale.

For more information, please visit www.oilandgasclimateinitiative.com.

Contact: Media Enquiries: E: OGCI@hkstrategies.com  T: +44 (0) 207 413 3448

 

About BDC

BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 123 business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first financial institution in Canada to receive B Corp certification.

To find out more, visit www.bdc.ca.

Contact: Flavie Côté, Media Relations: E: mediainfo@bdc.ca  T: +1 (844) 625 8321

 

About Chevron Technology Ventures

Since 1999, Chevron Technology Ventures has been committed to pushing energy’s frontiers. CTV pursues new business models and externally developed technologies that enhance the way Chevron produces and delivers affordable, reliable, cleaner energy. Fostering innovation both within Chevron and across the energy landscape, CTV champions the integration of solutions that address current business needs and those of tomorrow. Through technology deployments and venture capital portfolio, CTV supports a wide range of pioneers that are shaping the future of energy.

 

To find out more, visit www.chevron.com/technology/technology-ventures.

Contact: Jan Sieving, E: media@chevron.com T: +1(925) 842 0455

 

 

 

Inventys Partners with Total and Lafarge to Bring Carbon Capture Program to British Columbia

Project COMENT secures funding from Total, Lafarge, CCP (CO Capture Project), Province of B.C., and Government of Canada

VANCOUVER, BC, Canada — Tuesday, May 28, 2019 — Inventys today announced a project partnership to develop and demonstrate the first full-cycle solution to capture and reuse CO₂ from a cement plant while also reducing greenhouse gas emissions. Project CO₂MENT will demonstrate and evaluate Inventys’ CO₂ Capture System and a selection of CO₂ utilization technologies at Lafarge’s Richmond, BC, cement plant over the next four years.

This project is led by Inventys in partnership with Lafarge Canada Inc., a member of the global building materials group, LafargeHolcim, and Total, a major energy company. It also received financial support from CCP (CO₂ Capture Project), the Province of B.C., and Canada’s federal government through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).

“At Inventys, we see a real opportunity to build a CO₂ marketplace where tonnes of CO₂ are traded between emitters and users,” said Inventys President & CEO Claude Letourneau. “This project provides an opportunity for global industry leaders to work together using everyone’s expertise to create new business models while fighting climate change.”

Project CO₂MENT received $150,000 through the B.C. government’s Innovative Clean Energy (ICE) Fund, which provides funding to projects that align with B.C.’s climate goals, while also supporting a thriving clean-energy sector.

“Project CO₂MENT  is a great example of how made-in-B.C. innovations and technology are putting us on the path to a cleaner, better future,” said Michelle Mungall, Minister of Energy, Mines and Petroleum Resources. “Like other projects supported by the Innovative Clean Energy Fund, it will help achieve our government’s CleanBC plan to reduce climate pollution, boost the economy, and create good jobs.”

Lafarge’s Richmond cement plant has been building in Canada for over 60 years. In a drive towards its 2030 Sustainability goals, Lafarge recently expanded its low carbon fuel program with the addition of a $28-million system to use non-recyclable waste as fuel.  This new fuel system will make Richmond the most carbon efficient cement plant in Canada.  More than a million tonnes of cement are produced per year in Richmond, making it a large emitter of CO₂ in British Columbia.

“It takes intensive energy to heat limestone to the level necessary for its transformation into cement and the chemical reaction itself produces CO₂ so we are very interested in researching ways to capture these emissions and reuse them in our concrete products.” Lafarge Western Canada CEO, Brad Kohl said.

“Total is delighted to invest and support the CO2MENT project that demonstrates effectiveness and robustness of technologies to capture CO2 from real industrial flue gas. This is an important step forward to make CCUS an economic solution”, says Samuel Lethier, Total CO2 Capture R&D Project Manager. “Total is committed to invest 10{0c8abfa2ea4c1481fc7404eb644caece91d10241de6654f54ba95d19a8e78bd4} of its annual R&D investment into Carbon Capture, Utilisation and Storage that will play an essential role in achieving carbon neutrality in the second half of the century.”

CCP Board Chair, Jonathan Forsyth comments: “This is an exciting project for CCP to be joining. CCP as an International capture and storage technology innovation programme have always put a focus on new technology development that will advance CCS.  Our participation in Phase II of CO₂MENT aligns with that and, if successful, the project could create another potential solution that reduces the cost of capturing CO2 from industry applications.”

The project provides an opportunity to evaluate the potential for a new business model for supplying post-combustion CO₂ to the existing CO₂ market as well as assessing the economic feasibility of newly developed CO₂ utilization technologies. “Using the CO₂ as a raw material, especially when coupled with BC’s renewable energy, could potentially generate profits to subsidize the costs of CO₂ capture and enable a use in a region where storage can’t exist,” said Inventys Co-Founder and VP of Strategic Accounts, Brett Henkel. “Our objective is to see if a commercial scale project can provide a business case for up to 3,000 tons of CO2 per day, preventing those emissions from going to the atmosphere.”

The objectives of Project CO₂MENT are as follows:

  • PHASE I ― The Contaminant Program : Reduce harmful organic and inorganic substances, such as sulphur dioxide, dust and soot, as well as nitrogen oxides, from cement flue gas;
  • PHASE II ― The CO₂ Capture Program: Separate the CO₂ from flue gas using a customized-for-cement version of Inventys’ carbon capture technology at pilot scale;
  • PHASE III ― The CO₂ Reuse Program: Prepare post-combustion CO₂ for reuse and support the economical assessment and demonstration of CO₂ conversion technologies onsite, such as CO₂-injected concrete and fly ash.

Funding for the first two phases is complete and development of Phase I is underway. Phase I will begin operation in 2019; followed by Phase II & III in 2020.

 

About Inventys

Inventys Thermal Technologies Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enable the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Inventys is working to create new market spaces by leveraging its breakthrough carbon capture technology. For more information, please visit www.inventysinc.com.

For more information, please contact:
Alison Cartier
Manager, Marketing & Communications
Inventys Inc.
M: +1.778.990.8734
Email: alison.cartier@inventysinc.com

 

About Lafarge Canada
Lafarge is Canada’s largest provider of diversified construction materials and a member of the global group, LafargeHolcim. With 6,000 employees and 400 sites across Canada, our mission is to provide construction solutions that build better cities and communities. The cities where Canadians live, work, and raise their families along with the community’s infrastructure benefit from the solutions provided by Lafarge consisting of aggregates, asphalt and paving, cement, precast concrete, ready-mix concrete and road construction.

Through LafargeHolcim’s 2030 Plan, Lafarge is committed to providing solutions using sustainable manufacturing practices and improving the environment in and around its operations. The company has a sixty-year history in Canada and works continually to reduce carbon dioxide emissions, restore wetlands for native plants and animals, and identify waste materials that can be recycled and used in our operations.

For more information, please contact:
Jennifer Lewis
Media Relations, Lafarge
jennifer.lewis@lafargeholcim.com
1-403-723-7151

 

About  Total

Total is a major energy company that produces and supplies oil, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, cleaner, more affordable, more innovative and accessible to all. With operations in more than 130 countries, our aim is to become the world’s leading responsible energy major.

For more information, please contact:
Press Relations: +33 (0)1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com

 

About CO₂ Capture Project

Since CCP’s formation in 2000, it has undertaken more than 150 projects to increase understanding of the science, economics and engineering applications of carbon capture and storage.

CCP works alongside specialists from industry, technology providers and academia to advance technologies, improve operational approaches and help make CCS a viable option for CO2 mitigation in the oil and gas industry. CCP has been working closely with government organizations – including the US Department of Energy, European Commission and 60+ academic bodies and global research institutes.

The members of CCP’s fourth phase are BP, Chevron and Petrobras.

For further information on CCP and its projects, register at www.co2captureproject.org.
For more information, please contact:
Mona Ishaq, Pulse Brands:
mona.ishaq@pulsebrands.com
+44 (0) 207 024 8971 / +44 (0)7593 592 722
Simon Taylor, Pulse Brands:
simon.taylor@pulsebrands.com
+44 (0) 207 024 8972 / +44 (0)7823 330 975

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Secretary Perry Announces $24 Million in New Projects to Advance Transformational Carbon Capture Technologies

WASHINGTON, D.C. – Today, U.S. Secretary of Energy Rick Perry announced the selection of eight projects to receive nearly $24 million in federal funds for cost-shared research and development (R&D) for Novel and Enabling Carbon Capture Transformational Technologies. The selected projects will focus on the development of solvent, sorbent, and membrane technologies to address scientific challenges and knowledge gaps associated with reducing the cost of carbon capture. Secretary Perry announced these projects today at a joint press conference with International Energy Agency Executive Director, Dr. Fatih Birol.

“By 2040 the world will still rely on fossil fuels for 77{0c8abfa2ea4c1481fc7404eb644caece91d10241de6654f54ba95d19a8e78bd4} of its energy use. Our goal is to produce them in a cleaner way,” said U.S. Secretary of Energy Rick Perry. “These projects will allow America, and the world for that matter, to use both coal and natural gas with near-zero emissions.”

These transformational carbon capture projects are funded by the Office of Fossil Energy’s (FE’s) Carbon Capture Program. The National Energy Technology Laboratory will manage the projects, which are described below:

  1. Advanced Structured Adsorbent Architectures for Transformative CO₂ Capture Performance – Electricore, Inc. (Valencia, CA) intends to develop an optimized, commercially feasible carbon dioxide (CO₂) capture technology architecture in collaboration with Inventys, DNV GL USA, and Susteon. The process includes a dual-adsorbent bi-layer structured adsorbent design with a thermal conductive matrix that will enable a rapid temperature swing 40 to 100 times faster than a conventional thermal swing process. In-house bench-scale testing will be conducted on simulated flue gas and actual flue gas from a gas-fired boiler.

DOE Funding: $3,000,000; Non-DOE Funding: $774,630; Total Value: $3,774,630

 

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Inventys closes US$5M investment from BDC as part of Series C Fundraising Round

The advanced CO₂ capture technology company has now secured total proceeds to date of US$16M received under the planned US$21M Series C Financing Round, which was led by OGCI Climate Investments, alongside existing investors The Roda Group and Chevron Technology Ventures

Vancouver, February 6, 2019 — Inventys today announced that it has formally closed on an investment of US$5M from BDC’s Cleantech Practice, initially received on December 28, 2018, as well as an additional follow-on investment from existing shareholder Chevron Technology Ventures. This brings total proceeds received under the Series C Financing, which was led by OGCI Climate Investments, to US$16M out of a total round of US$21M. Inventys is targeting a close of the final US$5M under the Series C round prior to June 30, 2019, in order to fully fund its corporate program through 2020.

The funds will be used to complete the Company’s 30-tonne-per-day (TPD) CO₂ capture demonstration plant project with Husky Energy, currently in the final construction stages and due to begin operations in Q2-2019.

“Inventys is showing they have the expertise, the vision, and the technological approach to develop the CO₂ marketplace and to help tackle climate change,” says Susan Rohac, Vice President, BDC Cleantech Practice. “Inventys is in an excellent position to scale up its technology platform and play a leading role in strengthening the carbon value chain.”

The partnership between Inventys and BDC’s Cleantech Practice will allow Inventys to reach its goal of commercializing a first-of-its-kind, industrial-scale CO₂ capture plant by the end of 2020. The investment is part of BDC’s $700-million, five-year commitment announced in 2018 to help high-potential Canadian cleantech firms with market-ready technology or products meet the capital-intensive needs of scaling and achieving timely growth.

“At Inventys, we see a real opportunity to put CO2 to work and to build a CO₂ marketplace where gigatonnes of CO₂ are traded between emitters and users,” said Inventys President and CEO Claude Letourneau. “Inventys’ solution is focusing on distributed CO₂ supply using modular plant designs.”

A key building block for unlocking the growth of the CO₂ marketplace is shifting the carbon capture cost curve down by at least a factor of two from conventional technology (chemical solvents). Inventys found a way to do this with advanced solid adsorbent nanomaterials, combined with a novel modular compact contactor, to capture CO₂ from very dilute post-combustion flue gases (from industrial processes and gas-fired power plants).

About Inventys

Inventys Thermal Technologies Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enable the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Inventys is working to create new market spaces by leveraging its breakthrough carbon capture technology. For more information, please visit www.inventysinc.com.

About BDC

BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 123 business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first financial institution in Canada to receive B Corp certification. To find out more, visit bdc.ca.

About Chevron Technology Ventures

Since 1999, Chevron Technology Ventures has been committed to pushing energy’s frontiers. We pursue new business models and externally developed technologies that enhance the way Chevron produces and delivers affordable, reliable, cleaner energy. Fostering innovation both within Chevron and across the energy landscape, we champion the integration of solutions that address current business needs and those of tomorrow. Through our technology deployments and venture capital portfolio, we support a wide range of pioneers that are shaping the future of energy.

Contacts:

Alison Cartier
Manager, Marketing & Communications, Inventys Inc.
alison.cartier@inventysinc.com
1.778.990.8734

Joanne Lajeunesse
Public Affairs, BDC
mediainfo@bdc.ca
1.844.625.8321

Inventys Named to the 2019 Global Cleantech 100

Out of more than 13,000 innovators from over 90 countries, Inventys secures a place in the 2019 Global Cleantech 100

 

VANCOUVER, BC, Canada — Tuesday, January 29, 2019 — Inventys, a leading carbontech company developing a CO₂ marketplace, was named by Cleantech Group in the prestigious 2019 Global Cleantech 100.

The Global Cleantech 100 is an annual guide to the leading companies and themes in sustainable innovation. It features the private, independent, for-profit companies best positioned to solve tomorrow’s clean technology challenges. This year marks the 10th edition of the list.

“We are delighted to be recognized for our innovation in the CO₂ marketplace,” said Inventys President & CEO Claude Letourneau. “Our team is constantly striving to improve the productivity of our carbon capture system in order to provide the lowest cost of high purity CO₂ product to our customers.”

The list combines Cleantech Group’s research data with qualitative judgements from nominations and insight from a global 87-member expert panel comprised of leading investors and experts from corporations and industrials active in technology and innovation scouting. From pioneers and veterans to new entrants, the expert panel broadly represents the global cleantech community and results in a list with a powerful base of respect and support from many important players within the cleantech innovation ecosystem. The list is sponsored by Chubb.

The complete list of 100 companies was revealed January 28th at the 17th annual Cleantech Forum San Francisco.

 

About Inventys

Inventys Thermal Technologies Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enable the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Inventys is working to create new market spaces by leveraging its breakthrough carbon capture technology. For more information, please visit www.inventysinc.com.

About Cleantech Group
Cleantech® Group provides research, consulting and events to catalyze opportunities for sustainable growth powered by innovation. At every stage from initial strategy to final deals, we bring corporate change makers, investors, governments and stakeholders from across the ecosystem the access and customized support they need to thrive in a more digitized, de-carbonized and resource-efficient future.

The company was established in 2002 and is headquartered in San Francisco with a growing international presence in London. Our parent company, Enovation Partners, is based in Chicago.

 

For more information, please contact:

Alison Cartier
Inventys Inc.
M: +1.778.990.8734
Email: alison.cartier@inventysinc.com


Laura Dolby
Cleantech Group
Email: laura.dolby@cleantech.com

 

To download or read a pdf copy of the release, click: NR_2019-01-20_Cleantech100

 

Inventys Announces US$11M Series C Fundraising Round with OGCI Climate Investments as Lead Investor

Advanced carbon capture technology company, Inventys, has secured US$11M with lead investment from OGCI Climate Investments, alongside existing investors The Roda Group and Chevron Technology Ventures, as part of a planned US$21M Series C Financing Round

VANCOUVER, BC, Canada — Monday, July 16, 2018 — Inventys today announced that it has closed an initial tranche of its Series C equity financing led by OGCI Climate Investments, and including existing investors The Roda Group and Chevron Technology Ventures. A total amount raised so far of US$11M towards the Series C financing will fund the 30-tonne per day (TPD) CO₂ capture pilot plant demonstration program with Husky Energy scheduled to be in operation in Q1-2019, as well as support Inventys’ aggressive time-to-market strategy for 2020.

Dr. Pratima Rangarajan, CEO of OGCI Climate Investments, said, “As we address climate change, we must develop economic ways to capture, utilize, and store CO2. Inventys’ technology can cause a step change in the economics of CO2 capture.”

“At Inventys, we see it as an opportunity to put CO₂ to work. Some say it’s too costly and difficult to capture and use or store CO₂ using a distributed supply model. We believe Inventys’ technology will prove them wrong,” said Inventys President & CEO Claude Letourneau.

“We’ve built a world-class team of scientists, engineers, technicians, specialists, strategists, project developers and entrepreneurs dedicated to creating a global CO₂ marketplace using our breakthrough next-generation carbon capture technology.’’

A key building block for unlocking the growth of the CO₂ marketplace is shifting the carbon capture cost curve down by at least a factor of two from conventional technology (chemical solvents). Inventys found a way to do this with advanced solid adsorbent nanomaterials, combined with a novel modular compact contactor, to capture CO₂ from very dilute post-combustion flue gases (from industrial processes and gas-fired power plants).

Dr. Steven Chu, former US Secretary of Energy and a member of Inventys’ board of directors, said “Carbon capture, utilization, and sequestration from point sources such as power, cement, and steel plants is essential to minimize the risks of climate change. After completing an extensive due diligence process, OGCI Climate Investments recognized that Inventys has a leadership position in dramatically lowering the cost of carbon capture needed to develop this multibillion-dollar market opportunity.”

Due to the interest expressed by a number of strategic investors, the company is able to issue a number of additional Series C shares, for additional proceeds of up to US$10M (completing the US$21M Series C round), within a limited time window following this initial close.


About Inventys

Inventys Thermal Technologies Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enable the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Inventys is working to create new market spaces by leveraging its breakthrough carbon capture technology. For more information, please visit www.inventysinc.com.

 

About OGCI Climate Investments

OGCI Climate Investments LLP is a billion-dollar investment fund focused on initiating practical actions to deliver solutions for a sustainable, low-emissions future. The fund invests in technologies that have the potential to significantly reduce greenhouse gas emissions, are economically viable, ready to be commercialized, and deployed at scale. It was launched in November 2016 by the Oil and Gas Climate Initiative, a voluntary initiative led by CEOs of 10 global oil and gas companies. For more information, please visit www.oilandgasclimateinitiative.com.

 

 

For more information, please contact:
Alison Cartier
Manager, Marketing & Communications
Inventys Inc.
M:  +1.778.990.873
Email: alison.cartier(at)inventysinc.com

 

For printing or downloading a PDF copy of the release: OGCI-Investment-SeriesC