Le Fonds de croissance du Canada investira jusqu’à 100 millions de dollars américains dans Svante pour accélérer sa croissance
Le Fonds de croissance du Canada Inc. (« FCC ») et Svante Technologies Inc. (« Svante » ou la « Société »), un fournisseur mondial de premier plan de solutions de captage et d’élimination du carbone basé à Vancouver, ont annoncé aujourd’hui un engagement de financement pouvant atteindre 100 millions de dollars américains pour accélérer le développement et la construction des projets commerciaux de captage et d’élimination du carbone de Svante au Canada et aux États-Unis.
Le FCC a pour mandat d’investir dans des entreprises canadiennes afin d’accélérer leur atteinte d’un stade de commercialisation et d’accélérer le déploiement de technologies propres. Svante est un chef de file dans le développement de technologies de captage et d’élimination du carbone, avec le potentiel d’accélérer la réduction d’émissions dans les secteurs industriels où elles sont difficiles à réduire, et ce, à l’échelle mondiale. L’investissement du FCC permet à la Société de se concentrer sur ses opportunités de déploiement de type « first-of-a-kind » (« type FOAK ») et l’encouragera à prioriser des opportunités canadiennes. Le capital du FCC soutient les opérations canadiennes en cours et encourage Svante à accélérer la réalisation de projets à l’échelle nationale et internationale, en tirant parti de sa propriété intellectuelle canadienne et de ses capacités de fabrication au Canada.
« Le FCC s’efforce d’accélérer le déploiement des principales technologies canadiennes de captage du carbone et d’intensifier la fabrication et l’exportation de solutions prometteuses afin de mettre en valeur les technologies canadiennes à l’international », a déclaré Patrick Charbonneau, président et chef de la direction de Gestion d’actifs Fonds de croissance du Canada. « Svante bénéficie d’une énorme opportunité de marché, à l’échelle mondiale et ici au pays, et nous nous réjouissons de soutenir cette entreprise dans sa croissance. »
Le FCC déploiera son investissement en deux tranches : (i) une première tranche de 50 millions de dollars américains sera notamment utilisée pour accélérer et réduire les risques liés aux projets commerciaux de type FOAK en cours et (ii) une seconde tranche pourra être utilisée pour le développement et la construction de projets aux côtés des partenaires de Svante.
Claude Létourneau, président et chef de la direction de Svante, a déclaré : « Nous sommes ravis de cet investissement du FCC. Cet investissement est transformateur pour Svante et s’ajoute à l’investissement en capital de 145 millions de dollars américains réalisé dans notre nouvelle usine de fabrication de filtres de captage et d’élimination du carbone en construction à Vancouver. Cela renforcera notre offre de service intégrée de développement de projets pour aider nos clients à réduire les risques liés aux projets de type FOAK en fournissant à la fois notre expertise interne en matière de conseil en développement de projets et notre financement. Cette nouvelle offre vient combler un manque pour nos clients car elle leur permet de prendre plus rapidement une décision finale d’investissement. »
Faits saillants de la transaction
- Le FCC investira jusqu’à 100 millions de dollars américains dans Svante par le biais de notes convertibles, dans le but de faire progresser le développement de la technologie innovante de captage du carbone de Svante.
- L’investissement sera effectué en deux tranches : la première tranche de 50 millions de dollars américains sera versée immédiatement, et la seconde tranche de 50 millions de dollars américains pourra être utilisée pour le développement et la construction de projets de captage du carbone en mettant l’accent sur les projets canadiens, sous réserve de l’approbation des deux organisations.
- Svante construit une installation de 141 000 pieds carrés à Burnaby, en Colombie-Britannique, au Canada, qui produira des filtres capables de capter 10 millions de tonnes de CO2 par an et servira de siège social mondial et de centre de R&D.
- Le produit de la première tranche d’investissement sera utilisé pour le développement commercial et pour le financement de projets de type FOAK.
- Cet investissement s’inscrit dans le mandat du FCC en soutenant une entreprise canadienne de technologies propres de premier plan, en protégeant sa propriété intellectuelle et des emplois canadiens, et en encourageant le développement de projets et d’activités d’innovation canadiens.
- L’investissement accélérera le déploiement de la technologie innovante de captage du carbone de Svante, qui a le potentiel de réduire considérablement les émissions mondiales de CO2.
- Cet investissement marque le premier investissement du FCC en Colombie-Britannique, soutenant les emplois locaux dans la province et diversifiant son portefeuille d’investissements.
- Le marché du captage et de la séquestration du carbone, ainsi que de l’élimination du carbone, est en expansion, avec des réglementations favorables en place au Canada, aux États-Unis et en Europe, mettant en évidence la demande croissante de technologies de réduction et d’élimination des émissions de CO2.
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Canada Growth Fund Invests US$100 Million in Svante to Accelerate Growth
Canada Growth Fund Inc. (“CGF”) and Svante Technologies Inc. (“Svante” or the “Company”), a leading global carbon capture and removal solutions provider headquartered in Vancouver, Canada, announced today a financing commitment of up to US$100 million to accelerate the development and construction of Svante’s commercial carbon capture and removal projects in Canada and the US.
CGF has a mandate to invest in Canadian clean technology businesses that are scaling technologies currently in the commercialization stage of development. Svante is a leading developer of carbon capture and removal technology, with significant potential to accelerate emissions reductions in hard-to-abate sectors worldwide. CGF’s investment enables the Company to focus on its first-of-a-kind (FOAK) deployment opportunities and will encourage the business to prioritize opportunities in its Canadian pipeline. CGF’s capital is supporting ongoing Canadian operations and will encourage Svante to accelerate the delivery of projects domestically and internationally, leveraging their Canadian IP and manufacturing capabilities.
“CGF is working to accelerate the deployment of key Canadian carbon capture technologies, and to scale the manufacturing and export of promising solutions to showcase Canadian technologies internationally,” said Patrick Charbonneau, President and CEO of Canada Growth Fund Investment Management Inc. (“CGF Investment Management”). “Svante has a tremendous market opportunity, globally and here at home, and we look forward to supporting this company in its growth.”
CGF will fund its investment in two tranches: (i) an initial tranche of US$50 million will be used to accelerate and de-risk FOAK commercial projects currently underway and (ii) a potential second tranche expected to be tied to project-specific requirements to match Svante’s capital needs for the development and construction of projects alongside the Company’s co-development partners.
Claude Letourneau, Svante’s President and CEO, said: “We are delighted with this investment by CGF. It is transformational for Svante and complements the US$145 million capital investment made in our new carbon capture and removal filter manufacturing facility under construction in Vancouver. This will strengthen our Integrated Project Development Services offering to help our customers de-risk FOAK projects by providing both our in-house project development advisory expertise and financing. This new offering bridges the gap for our customers as it enables them to reach final investment decision.”
Transaction Highlights
- CGF will invest up to US$100M in Svante via convertible note(s), aimed at advancing the development of Svante’s innovative carbon capture technology.
- The investment will be made in two tranches: the first tranche of US$50M will be disbursed immediately, and the second tranche of US$50M can be drawn for the development and construction of carbon capture projects with a focus on Canadian projects, subject to approval by both organizations.
- Svante is constructing a 141,000 sq. ft. facility in Burnaby, BC, Canada, which will produce filters capable of capturing 10 million tonnes of CO2 annually and serve as the company’s global headquarters and R&D center.
- The proceeds from the first investment tranche will be utilized for commercial development and FOAK project funding.
- This investment aligns with CGF’s mandate by supporting a leading Canadian cleantech company, protecting Canadian IP and jobs, and encouraging the development of Canadian projects and innovation activities.
- The investment will accelerate the deployment of Svante’s innovative carbon capture technology, which has the potential to significantly reduce global CO2 emissions.
- This investment marks CGF’s first venture in British Columbia, supporting local jobs in the province and diversifying its investment portfolio.
- The market for carbon capture and sequestration, and carbon removals, is expanding, with supportive regulations in place in Canada, the USA, and Europe, highlighting the growing demand for emissions reduction and removal technologies.
Svante to Deploy First-of-a-Kind Commercial-Scale Carbon Capture Plant at Delek US’s Texas Refinery with DOE Support
Svante Technologies Inc. (Svante) announced today that its strategic investor and customer, Delek US Holdings Inc. (Delek US), has been selected by the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations to negotiate a cost-sharing agreement in support of a large-scale Svante carbon capture pilot project at Delek’s Big Spring refinery in Texas. The DOE Carbon Capture Large-Scale Pilot Project program provides 70% cost-sharing for up to $95 million of federal funding to assist with project development.
The large-scale pilot project aims to capture 145,000 metric tons of carbon dioxide (CO2) from the refinery annually – equivalent to taking 32,267 gas-powered cars off the road every year. The project is set to contribute to overall environmental sustainability, reducing harmful pollutants such as sulfur dioxide and particulate matter often found in industrial post-combustion flue gas.
“This announcement is transformational for Svante and our entire industry as it enables us to further demonstrate the efficacy of our environmentally responsible solid sorbent carbon capture technology – all at a large, commercial scale,” said Claude Letourneau, Svante’s President and CEO.
Delek US’s President and CEO, Avigal Soreq, also commented, expressing his gratitude for the DOE’s recognition, stating, “We are honored and pleased the DOE has selected our project. Scaling second-generation carbon capture technology like Svante’s is critical for decarbonizing the world’s hard-to-abate industrial and energy sectors.”
The project is a first-of-a-kind commercial-scale deployment of Svante’s solid sorbent-based filter technology. Svante’s plant will be situated on-site at Delek US’s Big Spring refinery and connected to the post-combustion flue gas from the fluidized catalytic cracking unit – the source of CO2 emissions – where it will trap CO2 before it can escape to the atmosphere. Once trapped, the diluted CO2 in the flue gas will be concentrated into a useable, pipeline-grade purity, at which point it will be ready for safe transportation and deep underground storage or further industrial use.
To bring this project online, Delek US and Svante will collaborate with leading industry partners along with the DOE to drive advancements in carbon capture technology.
The project stands to create approximately 200 construction and operations jobs in 2027 and 2028. Delek US will partner with the International Union of Operating Engineers (IUOE) and the United Steelworkers (USW) to equip the community’s new and existing workforce with the valuable skillsets needed for these large-scale projects.
Climeworks and Svante Collaborate in Development and Supply for Direct Air Capture
Climeworks has signed a collaboration and supply agreement with Svante Technologies Inc. (Svante), a leading carbon capture and removal solutions provider. The companies agreed to jointly plan the supply of Svante’s contactor blocks for three major Climeworks projects, intending to lead to a commercial-scale supply agreement, whereby Climeworks would purchase Svante’s contactor blocks for its planned megaton direct air capturing hubs in the US.
The US Department of Energy selected Climeworks to develop three of these hubs, in Louisiana, California, and North Dakota, making the company eligible for a total of more than USD 600 million in government funding.
Combined forces for global carbon removal
The collaboration allows both partners to agree on intermediate goals, and to jointly proceed to the next phase of development. “Delivering large-scale direct air capture required us to approach this collaboration with flexibility on the development of project specifications while retaining rigorous accountability for the success of the overall project,” says Claude Letourneau, President and CEO of Svante. “We’ve been closely collaborating with Climeworks over the past three years, and because of that proximity, we felt comfortable entering into this kind of arrangement. The combination of our advanced technologies represents a significant step forward in the nascent direct air capture industry, playing a critical role in meeting the world’s net-zero ambitions.”
Svante is in the final stages of building its commercial filter manufacturing facility, The Centre of Excellence for Carbon Capture and Removal, in Vancouver, BC, Canada. The Centre is equipped to supply both the industrial point source post-combustion carbon capture market and the direct air capture market. Svante has anticipated and prepared for the event where the agreement with Climeworks takes up a significant portion of the Centre’s capacity and has secured additional coating capacity with its partner, 3M.
Best-in-class technology for Climeworks’ large-scale direct air capture projects
With the extended collaboration, Climeworks secures best-in-class technology supporting its scale-up journey. A crucial part of the direct air capture process involves filter material trapping CO2 from the ambient air, and Svante’s filter technology will further enhance the performance of the carbon dioxide capturing process.
“We are focusing on the massive growth of our carbon removal technology to create climate impact,” says Jan Wurzbacher, Co-Founder and Co-CEO of Climeworks. Svante is one of the key players in the ecosystem to support us in our journey to scale to a gigaton capacity.”
Carbon Capture & Removal Solutions Provider, Svante, Named on the 2024 Global Cleantech 100
The Global Cleantech 100 is a comprehensive showcase of the most promising private companies in the global cleantech ecosystem.
Companies on the list will be recognized at the upcoming Cleantech Forum North America on January 22-24 in San Diego, CA.
Leading carbon capture and removal solutions provider, Svante Technologies Inc. (Svante), headquartered in Vancouver BC, Canada, announced today that it has been named on the Cleantech Group’s prestigious 2024 Global Cleantech 100 list.
This annual list, now in its 15th year, serves as a definitive guide to the top companies making significant contributions to sustainable innovation. The Global Cleantech 100 program has been running since 2009, and Svante has made the list every year since 2019.
“These innovative companies are driving positive change and are at the forefront of enabling the global transition to a more sustainable future,” said Richard Youngman, CEO, of the Cleantech Group. “The Global Cleantech 100 is a recognition of the market’s positive view on their progress to date and their potential impact in building a cleaner, decarbonized world.”
The Global Cleantech 100 is a comprehensive showcase of the most promising private companies in the global cleantech ecosystem. The report provides a complete list of innovators with outstanding technologies, original business models, and bold plans that can enable the world to act on climate change.
“We are delighted to once again be named on the Global Cleantech 100 alongside our admirable peers in the global cleantech community,” said Claude Letourneau, President and CEO of Svante. “Recognitions like these are a testament to our team’s dedication to excellence and innovation in developing environmentally responsible carbon capture and removal solutions.”
This year’s list includes companies from 21 countries, showcasing the international collaboration and impact of cleantech solutions. The global nature of the list underscores the importance of all corners of the world addressing shared environmental challenges.
The 100 featured companies, including Svante, will be recognized at the upcoming Cleantech Forum North America on January 22-24 in San Diego, CA.
In addition to being listed on the Global Cleantech 100 this year, Svante made some major announcements in recent months, including securing a commercial supply of Svante’s novel metal-organic framework (MOF) with BASF for the carbon capture market. Further, the company was also been recognized on the XPRIZE Foundations’ XB100, a notable ranking of the world’s top 100 private deep tech companies.
Svante Appoints Chief Financial Officer
Svante Technologies Inc. (Svante), a leading carbon capture and removal solutions provider announced today that it has appointed Justine Fisher as its Chief Financial Officer (CFO). The company has been rapidly scaling since it closed US$318 million in its Series E fundraising round in December 2022, nearly doubling its employee headcount, and appointing a new Chief Operating Officer (COO), Chief Revenue Officer (CRO), and Chief Commercial Officer (CCO).
“As we continue to expand our operations globally, we want to ensure that all elements of our business are ready and able to support our rapid scaling, especially those that impact our financial reporting and successful business relationships with existing investors and future funding sources,” said Claude Letourneau, Svante’s President and CEO. “I’m pleased to welcome Justine to the C-suite team at Svante and announce that Karen Miller, VP of Finance and Internal Controls, Kent Alekson, VP of Corporate Development, and Tyler Cheyne, VP of People and Culture, will be reporting directly to the new CFO.”
“Carbon management is a critical pillar of the green industrial transition that will help us slow the pace of climate change. I am honoured to be a part of the Svante carbon capture solution”, said Ms. Fisher. “It is impressive to see a company scale as quickly as Svante has over the past couple of years and I look forward to working with Claude and team to unlock the company’s next phase of growth as we commercialize around the world.”
Justine brings over 20 years of experience in corporate finance, capital raising, balance sheet management, and investor communications in the commodities and industrial sectors. She will be responsible for overseeing the company’s strategic planning, budgeting, forecasting, performance reporting, accounting, treasury, tax, and financial reporting functions, as well as Svante’s People and Culture group. She will serve as the steward of Svante’s financial matters with external stakeholders, including capital markets, institutional investors, lenders, regulators, and auditors. This includes ensuring the adoption and implementation of new digital business technologies to create a connected finance organization that can produce real-time insights to inform key business decisions and drive enterprise value. Justine will lead efforts to ensure our workforce is skilled and motivated to drive towards Svante’s corporate objectives and purpose.
Since its founding in 2007, Svante has grown to employ nearly 300 professionals and has become a global leader in the carbon capture and removal industry. The company makes solid sorbent-based filters and machines that trap CO2, a noxious greenhouse gas, from heavy, hard-to-abate industrial facilities. The company’s filters can also be used for removing CO2 from the atmosphere in direct air capture (DAC) applications.
Svante’s R&D Program Manager, Dr. Sabereh Rezaei, Named Top Female Innovator in Canada
The 2023 Mission Innovation Net-Zero Industries Award honors the world’s best innovations for industrial decarbonization. It recognizes the extraordinary efforts made by individuals and organizations in three distinct categories, two of which include Female Innovators and Outstanding Projects, for which Svante’s carbon-capturing nanomaterial, CALF-20 metal-organic framework (MOF) project, was also a global runner-up for this year.
The Female Innovators award category recognizes exemplary women who have broken barriers, shattered glass ceilings, and are driving change in industries.
Dr. Rezaei is a seasoned professional with over a decade of experience in industrial technology-oriented projects. She has led dynamic CO2 capture process modeling teams and managed cross-functional collaborations. Dr. Rezaei holds a Ph.D. in Chemical Engineering from the University of Alberta, Canada. Her work is characterized by a strong commitment to sustainability and innovation — she has made significant contributions to the field of CO2 capture through her work at Svante and has been instrumental in advancing the state of industrial technology. She is an avid volunteer for various organizations and her leadership and technical expertise have been recognized and appreciated by her peers and colleagues.
“It is an honour to be recognized as Canada’s Top Female Innovator. I am deeply inspired by all the innovative women who were nominated in this category,” said Dr. Rezaei. “I am delighted that my daily work at Svante is toward a real action in tackling industrial point decarbonization and accelerating the global transition to carbon neutrality and it represented Canada and our company on the world stage”.
In addition to Dr. Rezaei’s recognition in the MI Net Zero Industries Awards, Svante was a global MI runner-up in the Outstanding Projects category, which recognizes projects that have revolutionized industries, disrupted the status quo, and set new benchmarks for decarbonization in energy-intensive industries.
CALF-20, which stands for Calgary Framework 20, was developed at the University of Calgary by Dr. George Shimizu. This new class of material has proven to be excellent for capturing CO2, as it has a high capacity and a high selectivity for CO2 over water and other molecules, such as nitrogen, sulfur oxide (SO2), nitrous oxide (NOx), and particulates. The sorbent material was further developed and commercialized by Svante, which uses it in its carbon capture structured adsorbent filter beds. The company has been using CALF-20 at its flagship pilot plant at a Chevron facility in Bakersfield, California, and at Lafarge Canada’s cement plant in Richmond BC.
“MOFs are a step change for the entire carbon management industry,” said Claude Letourneau, Svante’s President, and CEO. “CALF-20, when integrated into our structured adsorbent filter beds and process design, has some very special properties that make it optimal for capturing CO2 from heavy, hard-to-abate industries. I am incredibly proud of the world-changing work we’re doing with MOFs at Svante and the cutting-edge solutions that innovators like Dr. Rezaei are doing in our labs. It’s brilliant people like her that have truly made an impact on our success around the world.”
Svante recently announced a new commercial supply agreement with the world’s largest chemical producer, BASF, to scale up CALF-20.
Congratulations to Dr. Rezaei and to the entire Svante team! You truly make our company a great place to work.
Svante and Storegga Collaborate to Deliver Global Commercial-Scale Carbon Capture, Utilization, and Storage Projects
Svante Technologies Inc. (Svante) and Storegga today announced that they have signed a memorandum of understanding (MoU) to collaborate to deliver integrated carbon capture, utilization, and storage (CCUS) projects around the world.
The two companies will work together to identify, develop, and deploy large CCUS projects, aiming to significantly reduce carbon emissions. The collaboration leverages Svante’s environmentally responsible carbon capture and removal filter technology and Storegga’s expertise in the transportation and storage of CO2.
Storegga provides an end-to-end, integrated, carbon capture and storage service for CO2 emitters utilising net zero infrastructure including carbon capture and storage projects and hydrogen projects.
Svante is a leading carbon capture and removal technology provider that manufactures solid sorbent-based filters that can be used to trap CO2 from the source of heavy industrial facilities’ emissions, preventing it from reaching the atmosphere. The filters can also be used for direct air capture or DAC, in which CO2 that has already been emitted into the in the atmosphere is trapped and removed.
“This new agreement with Storegga is another example of how we’re collaborating with strategic partners across the CCUS value chain to equip our customers with everything they need to achieve their emission reduction targets”, said Matt Stevenson, Svante’s Chief Revenue Officer. “Working with Storegga will address the needs of industrial companies who are looking for environmentally responsible pathways to capture their carbon emissions and either safely sequester them underground or use them to make other products”.
Heavy industries worldwide require assistance in developing solutions for the capture, transport, and storage of the CO2 they emit. Svante and Storegga have the combined knowledge to develop projects including capture, transportation, and utilization/storage of CO2. The parties will work together to evaluate commercial scale projects, integrating Svante’s capture technology and Storegga’s regional planning for CO2 transportation, storage, and overall project development activities.
“Carbon capture and removal, also referred to as carbon management, is a key pillar the world can lean on in its efforts to decarbonize.” said Dr. Nick Cooper, Storegga’s CEO, “Combining Svante’s capture technology with our experience in project development, and the transportation and storage of CO2, I’m confident that together we can provide our customers with a competitive CCUS project offering.”
The companies are actively pursuing projects that have the potential to reduce carbon emissions at gigaton scale.
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Svante Secures Commercial Supply of MOF Advanced Sorbent Materials with BASF for Carbon Capture Market
Svante announced today that it has entered into an arm’s length Commercial Supply Agreement with BASF to scale up its proprietary sorbent material, Calgary Framework 20 (CALF-20), used in Svante’s carbon capture process. This metal-organic framework (MOF) sorbent can capture up to 95% of carbon dioxide (CO2) emitted from industrial sources, such as cement and blue hydrogen plants, using rapid solid adsorption and low-pressure steam.
Svante has pioneered carbon capture and removal technology using structured adsorbent beds, known as “filters”. The company is the most advanced industry player in the use of solid sorbents for carbon capture, with the world’s first commercially available MOF nanomaterial filter manufacturing facility in Vancouver, BC. This commercial supply agreement with BASF will unlock the next phase of Svante’s growth, scaling carbon capture filter manufacturing up to multi-million-tonne capacity and implementing hundreds of large-scale carbon capture and storage (CCS) facilities by 2030.
Svante’s unique modular and environmentally responsible solid sorbent technology is designed to capture CO2 from industrial flue gas. It then concentrates it into a high purity 95% pipeline-grade) CO2 and releases it for safe storage or further industrial use. Its unique approach is tailored specifically to the challenges of separating CO₂ from nitrogen in diluted flue gas, which is typically emitted in large volumes at low pressures and in dilute concentrations. Svante’s technology will play a key role in decarbonizing industrial activity in diverse fields including hydrogen, pulp and paper, cement, steel, aluminum, and chemicals.
Svante and BASF have been working collaboratively for the last two years to scale up CALF-20, which acts as a sponge for adsorbing CO2. Results of their research, published in the international peer-reviewed journal, Science, in December 2021, demonstrated CALF-20’s unique resistance to oxidation and water vapor, which allows CO2 to be captured at a low cost, using Svante’s proprietary structured adsorbent filters.
Solid sorbents are a step change for carbon capture, but the challenge is to merge all of their desirable features into a robust framework material with a low manufacturing cost. CALF-20 coupled with Svante’s filter addresses this challenge and captures CO2 with high capacity and selectivity over water.
“For high-performance CO2 capture and removal, steam stripping — where direct contact steam is used to flush CO2 out of the sorbent — has been a sort of ‘holy grail’ in the field. It is seen as the most effective way to do it.” said Claude Letourneau, President & CEO of Svante. “This MOF material, combined with our proprietary structured adsorption filters, is a game-changer for the carbon capture and removal industry. We have the right technology to reduce the capital cost of CO2 capture. It is modular and adaptable. Now, we need to scale up this technology and commercialize it to create a viable carbon management industry at gigaton scale”.
Svante, in collaboration with BASF, has successfully scaled up the CALF-20 MOF sorbent from laboratory to industrial scale by using a simple low-temperature process in accordance with green chemistry principles. Scalability and low cost of solid sorbents are imperative to the wide adoption of CCS. Up until now, large-scale production of MOF materials at low cost has been a barrier for the gas separation industry.
In addition to scaling up its CALF-20 manufacturing process, Svante has developed a high-volume and low-cost roll-to-roll process for coating the sorbent onto sheets of laminate, which it calls “Sorbent on a Roll”. The laminate is then stacked into high-performance filters, which are now available for both industrial point-source capture and direct air capture.
Samsung Engineering & Svante Unite in MoU for Carbon Capture Advancements in Asia and the Middle East
The two companies will also collaborate on design iterations that include further modularization of Svante’s post-combustion carbon capture plants. Samsung Engineering and Svante Technologies Inc. (Svante) announced today that they have signed a memorandum of understanding (MoU) to collaborate to identify, develop, and deliver commercial carbon capture, utilization and storage (CCUS) projects in Asia and the Middle East, targeting hard-to-abate heavy industries including cement, steel, hydrogen, fertilizer and more, using Svante’s novel solid sorbent-based carbon capture filter technology. The two companies will also explore design iterations of Svante’s post-combustion carbon capture plants. The MoU was signed during the ADIPEC 2023 conference in Abu Dhabi, UAE on October 4, 2023.
Samsung Engineering is one of the world’s leading engineering, procurement, and construction (EPC) and project management companies in the world, with an ambition to lead in the energy transition. Samsung Engineering’s extensive experience in executing many projects, paired with Svante’s novel approach to carbon capture and removal, make this collaboration an innovative solution for clients in heavy industries looking to decarbonize.
An important goal for Samsung Engineering is to become a ‘’Beyond EPC – Green Solution Provider’. The company is working to transform itself from not only a conventional EPC player but also a green solutions provider, taking meaningful actions to decarbonize its own operations. “The time is now for the CCUS industry value chain players to rethink how they approach projects to deliver them faster, cheaper, and more efficiently. Undertaking multiple projects in parallel while using the same EPC contractor will greatly improve project performance”, said Hong Namkoong, President & CEO of Samsung Engineering.
Svante has developed a unique, environmentally responsible carbon capture and removal technology, which employs what it calls “structured adsorbent beds”, known as “filters”. The company’s filters are coated with nanoengineered solid adsorbent materials and can be used to capture CO2 from industrial emissions that come from the production of difficult-to-decarbonize, heavily relied-on commodities, including cement, steel, fertilizer, hydrogen, and more. The company’s filter technology can also be used for direct air capture (DAC), in which CO2 that has already been emitted into the atmosphere is trapped and removed from ambient air.
“We are delighted to welcome Samsung both as a strategic commercial collaborator and an investor in Svante, alongside our other strategic value chain partners and investors”, said Claude Letourneau, Svante’s President and CEO. “Samsung Engineering’s 50+ years of execution experience across the energy and industrial sectors will be invaluable as we continue to rapidly scale our operations and filter manufacturing capacity.”
The two companies will work together to identify, develop, and deliver commercial-scale carbon capture projects in the Asia and Middle East markets, ensuring heavy industries in these regions have more viable pathways to meet their emission reduction targets. In addition, it is expected to be able to provide customers with an integrated project delivery model for carbon capture plants that is effective in industrial project management and performance optimization.
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Deep Sky and Svante Partner for Gigaton-Scale CDR in Canada
Deep Sky, a Canadian carbon removal project developer, partnered with carbon capture solutions provider Svante Technologies to study carbon sequestration in Quebec. They tapped Sproule to assess the feasibility of permanent geologic CO2 storage in the province.
This partnership is Deep Sky’s first venture to evaluate carbon capture and storage (CCS) technologies to ramp up the roll-out of this technological climate solution. This carbon dioxide removal (CDR) technology is crucial in achieving the global net zero emissions goal.
CCS can help balance hard-to-abate carbon emissions and help reverse the buildup of carbon pollution that’s already in the air.
Svante Named a World’s Top 100 Private Deep Tech Companies & Finalist in the 2023 Tech Innovation Awards
Carbon capture and removal solutions provider, Svante Technologies Inc. (Svante), announced today that it has been recognized on the XB100, a notable ranking of the world’s top 100 private deep tech companies, published by XPRIZE and Bessemer Venture Partners. The company has also been recognized as a finalist in the BC Tech 2023 Technology Impact Awards (TIAs).
Svante has been headquartered in BC, Canada since 2007 and has made sizable advancements in the carbon capture, utilization and storage (CCUS) space since then.
The company manufactures nanoengineered filters and machinery that capture and remove carbon dioxide (CO2) from industrial facilities and the air, effectively stopping the greenhouse gas from contributing to climate change. Some of Svante’s most recent announcements over the past two years, include:
The closing of its record-breaking $318M USD Series E fundraising round in December 2022 lead by Chevron New Energies and Temasek with participation from other existing and new investors;
New collaborations with GE,3M, Carbon America, Pilot Energy, and more – each collaboration focused on accelerating the development and deployment of carbon capture, utilization, and storage (CCUS);
The startup of a pilot plant featuring Svante’s novel metal-organic framework (MOF) technology to capture 25 tonnes of CO2 per day from a Chevron facility in California;
New executive appointments, including Richard Laliberté as Chief Operating Officer, Matt Stevenson as Chief Revenue Officer, and Andrew McLeod as Chief Commercial Officer and General Counsel;
$25M funding from the Canadian Federal Government’s Strategic Innovation Fund (SIF) – Net Zero Accelerator Program for the construction of a first commercial scale filter manufacturing facilities in Vancouver, Canada.
“The companies on the XB100 list represent the most valuable and impactful private companies in the deep tech sector,” said Tess Hatch, partner at Bessemer Venture Partners. “The XB100 awardees defy imagination and will reshape the human experience.”
The XB100 celebrates businesses and entrepreneurs who are commercializing scientific research into deep tech and making a meaningful impact on society. The XB100 evaluation process involved ranking companies across four factors: impact on humanity, valuation, scientific difficulty, and commercial traction.
At the same time as the XB100 listing was announced, The BC Technology Impact Awards, featuring companies who have achieved exceptional success in the past year, declared Svante as a finalist in the “Gamechanger – Climate Hero” category.
“Seeing our company’s achievements be recognized in the XB100 and 2023 Technology Impact Awards is truly invigorating for us,” said Claude Letourneau, Svante’s President & CEO. “I attribute our advancements in the industry to our brilliant and dedicated team of people, partners, and investors. We are passionate about helping the world achieve net zero with innovative engineered solutions for carbon capture and removal. Awards like these are appreciated by all of us.”
Svante Recognized as One of the World’s Top 100 Private Deep Tech Companies by XPRIZE | XB100
Svante has been recognized as one of The World’s Top 100 Private Deep Tech Companies List!
The XB100 is the definitive ranking of the worlds top private deep technology companies. XPRIZE Foundation and Bessemer Venture Partners have set out to define and study this promising cohort of businesses shaping the future.
The XB100 is the definitive ranking of the worlds top private deep technology companies. XPRIZE Foundation and Bessemer Venture Partners have set out to define and study this promising cohort of businesses shaping the future. zXB100 — The World’s Top 100 Private Deep Tech Companies List!
3M and Svante Announce Joint Development Agreement to Develop and Produce CO2 Removal Products
3M (NYSE: MMM) is expanding its ongoing commitment to materials science-based climate tech solutions by working with BC-based Svante Technologies, Inc. (Svante) to develop material that can trap carbon dioxide (CO2) found in the atmosphere and permanently remove it.
“3M is committed to helping build a low-carbon economy. We are driven by a need to solve the world’s most pressing challenges, and our partnership with Svante to create innovative climate solutions is an exciting prospect for us,” said Ray Eby, president of 3M’s Personal Safety Division. “Similar to how we tripled production of N95 respirators during the early days of the COVID-19 pandemic, we are eager to take on the challenge of scaling the production and supply of carbon removal materials over the next decade and beyond to meet global demand. Our deep expertise in filtration technology, extensive global R&D community and our unwavering commitment to create world-changing solutions give us the confidence to scale these carbon-adsorbing solutions with the necessary speed to combat climate change.”
3M Ventures, the venture capital arm of 3M, recently participated in Svante’s Series E fundraising round, which raised $318 million to accelerate the manufacturing of Svante’s carbon capture and removal technology.
“3M is another great addition to our network of world-class strategic partners and investors,” said Claude Letourneau, Svante’s president and chief executive officer. “3M’s 120+ years of expertise in producing materials science-based solutions at scale is unparalleled and will aid us in our efforts to capture millions of tonnes of CO2 from diverse sites around the world.”
Svante has developed a process for coating solid sorbents onto laminate sheets and stacking them into high-performance filters, which are available for both industrial point-source capture (from hydrogen, cement, steel, aluminum, pulp & paper plants, and refineries) and for direct air capture. Because of the wide array of markets the company serves, Letourneau says Svante’s technology can be applied to 85% of the total carbon capture and removal segment.
“With 51 technology platforms across 3M, we’re innovating and creating new technology capabilities to meet the growing needs of the carbon capture and removal market,” said Fabrice Moguet, senior vice president of research and development for 3M’s Safety and Industrial Business Group. “To fulfill Svante’s needs and help combat climate change, we’ll need to scale to thousands of miles of technical material over the next few years, and we’re excited to manufacture our first products in the United States for Svante’s DAC applications.”
The joint development agreement (JDA) between 3M and Svante focuses on the development and manufacture of solutions using parallel channel structured adsorbent technology for sale into the carbon dioxide removal (CDR) industry.
Lafarge Canada Collaborates with Svante and Dimensional Energy to Begin Utilization of CO2 Captured at Richmond Cement Plant
Lafarge Canada Inc. today announced a tri-party agreement with Svante Technologies Inc., and Dimensional Energy, Inc to bring a demonstration of Dimensional Energy’s carbon dioxide utilization technology to their cement manufacturing facility located in Richmond, British Columbia, Canada.
In 2019, through a joint industry partnership between Svante, Total S.A., and Lafarge, Svante installed Project CO₂MENT; a demonstration carbon capture plant to capture 1 tonne per day (1TPD) of CO2 emissions from Lafarge’s operations at the Richmond Cement Plant. Lafarge’s main contribution to this project was the in-kind support through the provision of land, operational support, and utilities required for the demonstration.
The project commenced in three phases: Pre-treatment, CO2 capture, and Utilization. The demonstration has allowed Svante to de-risk their carbon capture technology in a cement industrial environment, focusing the last two years on pre-treatment of the cement flue gas and increasing their efficiency of CO2 capture using its proprietary Metal Organic Framework (MOF) advanced sorbent. Throughout the project, Lafarge has directed efforts to determine a suitable end use for the captured CO2. Given the lack of CO2 transportation and sequestration infrastructure in southern British Columbia today, utilization of captured CO2 is fundamental to the decarbonization of large industries in the region. This new agreement transitions the project into phase 3.
Phase 3 will convert the 1TPD CO2 captured by Svante to produce approximately 1.5 barrels per day of synthetic hydrocarbons. Dimensional Energy’s technology will convert the CO2 with green hydrogen to syngas using their patented reactor and catalyst technology. This renewable syngas will be further processed into liquid hydrocarbons with Dimensional’s proprietary integration of downstream hydrocarbon synthesis. The synthetic hydrocarbons can be used in the production of industrial wax products and other high value products that place previously emitted carbon in an industrial use cycle. Premium grade pure waxes produced from Dimensional’s process will be of interest to other offtake partners such as manufacturers of plastics, lubricants, cosmetics, among others. By utilizing this technology for production of the fuels and products that people use every day, the goal is to lower the carbon intensity of our entire economy once scaled.
This project will include an ISO verified life cycle analysis (LCA) performed by a third-party to aid in the overarching goal by the three companies involved; which is to reduce greenhouse gas emissions.
Stephanie Voysey, Head of Sustainability & Environment, Lafarge Western Canada, notes, “Carbon capture is an important lever in our net-zero roadmap. However, for a carbon capture project to succeed, it must be paired with permanent geologic sequestration or utilization technology that will permanently isolate the CO2 in a specific media or product. If this pilot can be scaled to capture and use all facility emissions, it would be a first of its kind project for Lafarge and advance export and global adoption of this technology.”
“Finding pathways to the viable use of the CO2 we capture from industrial sites is key in developing a circular carbon economy,” said Claude Letourneau, President & CEO of Svante. “We must do everything we can to capture and remove CO2 before it reaches the atmosphere, so we are thrilled to be working with Dimensional Energy and Lafarge Canada on this important project. This type of partnership and project could make a significant impact on the world if deployed at scale.”
“It is an absolute honor to be collaborating with both Lafarge and Svante on this ground-breaking project,” said Jason Salfi, Dimensional Energy’s CEO. “Together, we will transform carbon emissions from one of the world’s most persistent problems of our time to one of our greatest assets to grow a circular economy in better harmony with nature. Leveraging existing infrastructure in difficult to decarbonize sectors of our economy is where we, as technology providers, can have an immediate impact on abating carbon dioxide while providing growth and opportunity for all future generations.”
Lafarge Canada has made a monetary commitment to Dimensional Energy to support the project’s broader success for the industry and has been granted funding from the Innovation Accelerator for the CleanBC Industry Fund.
Carbon America and Svante Announce Collaboration to Accelerate Carbon Capture Deployment in the U.S.
Carbon America and Svante Technologies Inc. (Svante) have announced a collaboration to focus on commercial deployment of carbon capture, utilization and storage (CCUS) projects in the United States.
The companies will work together to identify and deploy projects which can rapidly reduce greenhouse gas emissions in the United States. The collaboration leverages Svante’s novel solid sorbent carbon capture technology and Carbon America’s expertise in CCUS project development.
“Carbon capture is a critical component to the energy transition and Carbon America believes that collaboration is needed amongst players in this space to create meaningful change quickly,” said Brent Lewis, CEO of Carbon America. “By combining Carbon America’s project development expertise with Svante’s ready-to-deploy technology, we can more rapidly drive down greenhouse gas emissions across the industrial sector. We’re excited to collaborate with the incredible Svante team.”
Carbon America’s vertically integrated approach to CCUS development – from development to financing, engineering and execution – enables projects to move from concept to operation faster and more cost-effectively. Carbon America’s expertise across the capture-transport-storage value chain helps reduce critical risks along the development path to ensure the long-term success of projects.
“We’re enabling industries around the world to decarbonize their operations with second generation carbon capture and removal technology that is both environmentally responsible and efficient,” said Brett Henkel, Svante’s Co-Founder & VP Strategic Accounts and Government Affairs. “Collaboration is the key to success in this market, and working with companies like Carbon America will enable us to accelerate the deployment of our technology with enhanced ability to finance, build and operate carbon capture projects at scale in an efficient, cost-effective way.”
Svante has attracted attention in the CCUS space over the last few months due to the closing of its record-breaking Series E fundraising round, which raised US$318 million, led by Chevron New Energies and followed by other large entities including 3M Ventures (the venture arm of 3M), United Airlines Ventures, Samsung Ventures, and more. The company made the 2023 Global Cleantech 100 list and recently announced other strategic collaborations, including one with General Electric, where the two companies will work to research and develop solid sorbents to capture CO2 from natural gas combined cycle emissions sources in power generation.
Svante’s carbon capture filters are made by coating solid adsorbents, including metal-organic frameworks (MOFs), onto thin sheets of laminate that are stacked to become the company’s nano-engineered filters. These filters can be used in multiple applications for capturing CO2 from hard-to-abate industrial emissions that come from the production of cement, hydrogen, steel, oil & gas, aluminum, lime, pulp & paper, and more. The technology can be used for point-source post-combustion carbon capture in which the filters take CO2 out of industrial flue gas (the source of the emission) and prevent it from reaching the atmosphere. It can also be deployed in direct air capture projects, in which the low concentration of CO2 is trapped and removed from ambient air.
Svante & Pilot Announce Collaboration to Offer Full-Service Carbon Capture & Storage Solutions to Industrial Emitters
Pilot Energy Limited, and carbon capture & removal solutions provider, Svante Technologies Inc, have signed a Memorandum of Understanding (MoU) to collaborate on offering a one-stop-shop solution for carbon capture, transportation, and storage to industrial businesses with hard-to-avoid CO2 emissions.
Pilot Energy and Svante to initially target the decarbonization of ~8-million tonnes per annum of CO2 emissions from the Western Australian Kwinana Industrial Area.
Svante’s novel solid sorbent carbon capture and removal filter technology is an “ideal solution” to capture Kwinana Industrial Area’s CO2 emissions.
Pilot Energy Limited (‘Pilot’ or ‘the Company’) and Svante Technologies Inc (‘Svante’) have entered into MoU to target integration of Svante’s market-leading solid sorbent-based post-combustion carbon capture technology with Pilot’s Cliff Head CO2 storage project. The objective is to accelerate the commercial deployment of emissions reduction solutions, targeting Australia’s top greenhouse gas emitters.
Pilot’s CO2 storage project is an integral component of its Mid West Clean Energy project (’MWCEP’). The MWCEP leverages Pilot’s existing operational asset base (comprising the Cliff Head offshore oil production facility and onshore Arrowsmith separation plant) into the production of clean energy. The project includes a fully integrated carbon capture and storage operation through the conversion of the operating Cliff Head offshore oil field (CHCCS), which will enable the permanent storage of CO2 and the production of blue hydrogen, green hydrogen, and ammonia. Svante’s carbon capture filter technology is intended to be deployed to capture CO2 from industrial flue gas stacks on the sites of emitters.
“Svante’s innovative solid sorbent carbon capture technology is an ideal solution to efficiently capture the Kwinana Industrial Area’s hard-to-avoid CO2 emissions, and we’re enthusiastic about this new collaboration.” said Brad Lingo, Pilot’s Chairman.
Based in Greater Vancouver, BC, Canada, Svante is a leading carbon capture and removal solutions provider. The company manufactures novel solid sorbent-based nanoengineered filters that capture and remove carbon dioxide (CO2), a greenhouse gas that largely contributes to climate change, from the source of post-combustion industrial emissions before it can reach the atmosphere. The company has been listed on the Global Cleantech 100 list since 2019 and has made several other recent announcements related to new collaborations and formal fundraising agreements, including a new collaboration with General Electric (GE) Gas Power and a formal announcement of an investment made by United Airlines as part of Svante’s record-setting US$318-million Series E fundraising round.
Under the MoU, Pilot and Svante will collaborate to evaluate and deploy full-service carbon management solutions from the point of CO2 capture, transportation, and permanent storage at Cliff Head. The parties will initially target the decarbonization of ~8-million tonnes per annum of CO2 emissions from the Western Australian Kwinana Industrial Area as reported by the Kwinana Industries Council. The CHCCS project has the potential to provide a carbon management solution for 15 – 25% of the Kwinana Industries Council members reported scope 1 emissions.
“We are pleased to be collaborating with Pilot Energy to offer full-service, turnkey carbon management solutions to heavy industries,” said Matt Stevenson, Svante’s Chief Revenue Officer & Acting CFO. “An important feature of our business model is the ecosystem of partnerships we’re building globally across the value chain of carbon capture, utilization, and storage (CCUS). We’re excited about the opportunity to help Australia’s emitters decarbonize one of the country’s largest CO2 emitting regions.”
Carbon Capture & Removal Solutions Provider, Svante Named a Best Workplace in Canada
Following a string of announcements, Greater Vancouver-based carbon capture and removal solutions provider, Svante, has been ranked one of the 50 Best Workplaces™ in Canada. Svante, who now employs over 225 people and is expected to hire over 75 more before the end of the year, has made this year’s list of organizations with 100-500 employees. The 2023 Best Workplaces in Canada list is compiled by the Great Place to Work® Institute. Rankings are based on confidential employee feedback sourced from the institute’s Trust Index® Survey, as well as the specific programs and policies that support and benefit employees and corporate culture within the company. “We are honoured to be recognized as one of the Best Workplaces in the country.” says Claude Letourneau, Svante’s President & CEO. “At Svante, we strive to create a supportive and flexible environment that enables our employees to thrive and innovate. Above all else, I am overjoyed with the level of trust and employee experience within our company and am looking forward to seeing where it takes us as we continue to grow as a company and commercialize our solid sorbent-based carbon capture and removal solutions.” In addition to being named one of the Best Workplaces™ in Canada, Svante has also previously been deemed a Great Place to Work in January, and ranked 2nd among privately owned companies in the Corporate Knights’ Future 50 Fastest-Growing Sustainable Companies in Canada in June 2022. Further, Svante and made it onto the Global Cleantech 100 list for the fourth consecutive year. “This is an exciting time for our business and industry – we’ve made a lot of big announcements lately,” said Tyler Cheyne, Svante’s Vice President of People & Culture. “Despite volatility in the overall tech sector, as a climatetech business specializing in carbon capture and removal, we’ve enjoyed sustainable year-over-year growth, and we’re hiring a lot more people this year. I expect that this new recognition will aid us in attracting more talent.” Other recent announcements the company has made include a collaboration with GE Gas Power to explore solid sorbent materials that can be used to decarbonize power generation, and United Airline’s formal announcement of a C$15-million investment in Svante as part of its record-breaking Series E fundraising round which closed at the end of last year.
United Announces $15 Million Investment in Carbon Capture Company Svante
CHICAGO, March 29, 2023 /PRNewswire/ — United today announced its $15 million investment in carbon capture technology company Svante, who provides materials and technology as part of the value chain that has the potential to convert CO2 removed from the atmosphere and from industrial emission sources into sustainable aviation fuel (SAF). This is the latest announced investment from the new UAV Sustainable Flight FundSM, a first-of-its-kind investment vehicle that is designed to leverage support from cross-industry businesses in order to support start-ups focused on decarbonizing air travel through SAF research, technology and production.
The airline aims to be 100% green by reducing its greenhouse gas (GHG) emissions 100% by 2050, without relying on traditional carbon offsets. To date, United has invested in the future production of over three billion gallons of SAF – the most of any airline in the world.1
“Carbon capture technology has the potential to be a critical solution in the fight to stop climate change and has the added benefit of helping us scale the production of SAF,” said United CEO Scott Kirby. “And at United we’re building on that approach by investing in both companies that can capture CO2 and others that can turn it into fuel. There’s no question that this carbon utilization is in its infancy today, but as a leader in sustainable flying we must help build the foundation to deploy this technology of the future as expediently as possible. This is truly a global imperative, and United’s investment in Svante reflects our dedication to making sustainable travel a reality.”
This investment was made as part of Svante’s Series E financing round and will fund and support Svante’s commercial-scale filter manufacturing facility in Vancouver, BC, Canada. Svante is working with world-leading organizations, including Dimensional Energy, a carbon utilization – CO2 to jet fuel – company that United Airlines Ventures invested in last year.
“We are pleased to have the support of United Airlines as one of our world-class investors,” said Claude Letourneau, Svante’s President & CEO. “The airline industry has a huge opportunity to make a big impact on global decarbonization – battling climate change through the transition to sustainable aviation fuels and other innovative technologies that will help the world achieve net zero. Their investment in companies like ours will aid in accelerating the commercialization of carbon capture and removal technology.”
Svante is a leader in second generation solid sorbent-based carbon capture and removal. The company’s scalable, eco-friendly, and commercially available carbon capture and removal technology employs structured absorbent beds, known as filters. These filters can capture 95% of CO2 emissions from industrial sites as well as CO2 that’s already in the air. Once the CO2 is captured, it is concentrated and can be used in the creation of SAF or other products. It can also be safely transported and stored underground.
Svante’s manufacturing facility is anticipated to produce enough filter modules to capture millions of tons of carbon dioxide per year across hundreds of large-scale carbon capture facilities.
“It’s great to see United’s commitment to building an ecosystem for carbon dioxide (CO2) to Sustainable Aviation Fuel (SAF) manifest through this significant investment in Svante,” said Jason Salfi, Dimensional Energy’s CEO. “The teams at Svante and Dimensional Energy are working together to design integrated systems for captured CO2 to SAF today. There is enough CO2 in the atmosphere and in industrial process emissions to provide all of the carbon necessary for the fuels and products people use every day now and into the future. Svante provides the first step toward a circular carbon economy.”
SAF is an alternative to conventional jet fuel that, on a lifecycle basis, reduces GHG emissions associated with air travel compared to conventional jet fuel alone. SAF is made from used cooking oil and agricultural waste, and, in the future, could be made from other feedstocks, including household trash, forest waste, or compressed CO2, the end product of Svante’s carbon capture process.
GE and Svante Announce Collaboration to Develop Carbon Capture Technology for Power Generation
GE Gas Power, part of GE Vernova (NYSE: GE) and Svante today announced a joint development agreement (JDA) to develop and evaluate solid sorbent-based carbon capture technology for natural gas power generation applications. In addition, GE has made an equity investment in Svante as a part of Svante’s US $318-million Series E fundraising round in December 2022.
In 2022, GE announced that GE Vernova would spin off from GE in 2024 as a business purpose-built to lead the energy transition. This builds on GE’s sustainability commitments and position in the energy industry, where GE technology provides approximately 30% of the world’s electricity. GE is developing and commercializing a number of breakthrough technologies to drive the energy transition including carbon capture through industrial and technology research collaborations, including the agreement with and investment in Svante.
“The climate crisis and our world require immediate and sustained action and investment into crucial technologies like carbon capture which can deliver meaningful reductions in emissions and play a key role in the energy transition,” said Scott Strazik, CEO of GE Vernova. “We are excited to work with a technology innovator like Svante to drive collective progress on developing carbon capture solutions for the energy industry aiming to deliver more sustainable, affordable, and reliable electricity for more people.”
“We are pleased to welcome GE both as a strategic commercial collaborator and an investor in Svante, alongside our other strategic value chain partners and investors,” said Claude Letourneau, Svante’s President and CEO. “GE’s 130+ years of experience in energy applications will be invaluable to us as we rapidly scale our operations and manufacturing capacity to be able to capture millions of tonnes of CO2 from diverse industrial sites around the world.”
Svante’s novel carbon capture filters are made by coating solid adsorbents, including metal-organic frameworks (MOFs), onto thin sheets of laminate that are stacked to become the company’s nano-engineered filters. These filters can be used in multiple applications for capturing CO2 at refineries, cement, steel, aluminum, lime, boilers, pulp & paper, and more. The technology can be used for point-source post-combustion carbon capture in which the filters take CO2 out of industrial flue gas (the source of the emission) and prevent it from reaching the atmosphere. Because of the wide array of industries the company serves, Letourneau says Svante’s technology can be applied to 85% of the total carbon capture and removal segment.
The JDA between GE Gas Power and Svante will focus on further development and commercialization of novel solid sorbent technologies “aimed at decarbonizing natural gas-fired turbines in a cost-effective, environmentally responsible manner,” said Letourneau. “We are excited about the potential we have to open up an entirely new array of opportunities, aiming to provide carbon-free electricity in the future through the deployment of projects across gas-fired power generation facilities.”
Svante Appoints VP Project Delivery & Technology Licensing
Svante Appoints Chief Revenue Officer and Chief Commercial Officer & General Counsel
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.
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About Svante
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.
Svante Media Contact
Colleen Nitta
Director of Marketing & Communications
cnitta@svanteinc.com
604-970-2813
Svante Appoints Four Executive Team Members, Including New COO
VANCOUVER, BC—January 31, 2023—Svante, a global leader in modular solid sorbent carbon capture and removal technology, announced today that its Executive Team has gained four members. Richard Laliberté has joined Svante as Chief Operating Officer (COO). Pierre Hovington, Guy Pearson, and Tom Dielschneider have been promoted to Senior Vice President of R&D, Products, and Global Supply Chain respectively. They will be reporting directly to the new COO.
“To align our business more closely with the rapid commercial deployment of our carbon capture and removal technology, we have refined our global product delivery organization to improve our business effectiveness and enhance our manufacturing capabilities,” said Claude Letourneau, Svante’s President & CEO. “I’m pleased to welcome Richard to the team and also announce the promotions of these three brilliant leaders.”
“I am honoured to be joining the Svante executive team”, said Laliberté. I wanted to be part of a company having a major impact on the environment and Svante, as a leader in carbon capture, has the potential to become that kind of sustainable company leader. When Claude invited me recently to join as COO, I had to take him up on his offer. This is a great time to be in carbon capture, utilization, and storage, as all the key elements to make it happen at scale, including private investment, enhanced government policies, CO2 storage hub development and more, are in place. This industry is exponentially growing, and I couldn’t be more confident in my decision to join Svante in leading this space.”
Richard will oversee Svante’s global product and process development as well as manufacturing operations for both the company’s filters and rotary adsorption machines (contactors). He will be accountable for the company’s operational readiness and for structuring its global supply chain and manufacturing teams, putting the right people and tools in place to produce enough filters and contactors to capture millions of tonnes of carbon dioxide (CO2) per year across hundreds of large-scale carbon capture and storage projects, leveraging Svante’s new Centre of Excellence for Carbon Capture & Removal in Vancouver, BC, Canada. He will also be responsible for all new Svante manufacturing facilities, which are planned for the next decade.
An industrial veteran, Laliberté brings to Svante a unique blend of experience in leading novel product and process development in solid state lithium polymer batteries, complex powertrain electrification, and large structural steel fabrication for bridges going from prototype to industrial scale, based on Industry 4.0 principles.
Pierre Hovington will continue to deepen and expand Svante’s advanced solid sorbent and structured laminate material development and testing R&D group. Under Hovington’s leadership, Svante has been recognized as a world leader in metal-organic framework (MOF) sorbent and corresponding optimized process development for carbon capture using the company’s patented rapid thermal swing adsorption technology, VeloxoThermTM. Hovington’ s team is currently focusing on developing a novel MOF sorbent capable of economically capturing CO2 down to dilute gas streams from natural gas power plants.
Guy Pearson will continue to lead the product development and manufacturing of Svante’s filters and rotary contractors based on modular, high-volume designs using lean product development and manufacturing approaches.
Tom Dielschneider will continue to lead Svante’s procurement group and expand its global strategic supply chain partnerships for raw materials, manufacturing equipment, and contactor components.
Since its founding in 2007, Svante has grown to employ over 200 professionals. The company has attracted customers and partners from leading organizations around the world. It has been named in the prestigious Global Cleantech 100 report since 2019, The Corporate Knights’ 2022 Future 50 Fastest-Growing Sustainable Companies in Canada, and recently has been awarded the Great Place to Work Certification™ by the eponymous workplace-culture auditing agency.
Svante has generated a pipeline of new project opportunities that will capture over 100 million tonnes of CO2 per year before 2030, and with the capital raised in its record-breaking US$318 million Series E fundraising round in December 2022, Letourneau says Svante will be able to manufacture enough filters and machines to meet growing global demand.
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About Svante
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, visit www.svanteinc.com or follow Svante on LinkedIn and Twitter @svantesolutions.
Svante Media Contact
Colleen Nitta
Director of Marketing & Communications
cnitta@svanteinc.com
604-970-2813
Svante Listed on the 2023 Global Cleantech 100
Vancouver, BC – January 12, 2023 – Following a series of major announcements, carbon capture and removal solutions provider, Svante, located in Vancouver, BC, Canada, announced today that it has been listed on Cleantech Group’s highly anticipated 2023 Global Cleantech 100.
Published annually, The Global Cleantech 100 lists the most innovative and promising companies that are expected to help the world achieve net-zero commitments.
The selection process consists of nominations from the public, Cleantech Group’s expert panel, i3 research portal, awards, and Cleantech Group staff, which this year totaled 15,753 companies from over 93 countries. These companies were weighted and scored to create a shortlist of 330 companies that were reviewed by 81 members of an expert panel. The Global Cleantech 100 Expert Panel is made up of leading investors, corporate and industrial executives who are active in technology and innovation scouting.
The Global Cleantech 100 program has been running since 2009.
This prestigious annual report provides a complete list of companies with the most promising ideas in cleantech. These companies are found to be best positioned to help the world build a more digitized, de-carbonized, and resource-efficient industrial future. Download the Global Cleantech 100 complimentary report.
“This Global Cleantech 100 edition is remarkable for the number of businesses in it who represent solutions for some of the hardest of decarbonization challenges and those who are working on some of the critical materials issues coming our way, real soon,” said Richard Youngman, CEO, Cleantech Group. “We salute not only these 100 companies, but all the thousands beyond, who are fighting the good fight.”
“We are honoured to once again be listed in the Global Cleantech 100, and we’re thrilled for the other companies noted in the report”, said Claude Letourneau, Svante’s President & CEO. “We need to collectively do everything in our power to reach net zero, which includes all the tools in the decarbonization toolbox such as mass scale up of vehicle electrification, renewables, hydrogen, reforestation, and carbon capture, utilization and storage.”
The Global Cleantech 100 companies are delivering sustainable solutions in Agriculture & Food, Enabling Technologies, Energy & Power, Materials & Chemicals, Resources & Environment, and Transportation & Logistics sectors.
These featured companies will be recognized at the upcoming Cleantech Forum North America on January 23-25 in Palm Springs, CA. Event Attendees will have the opportunity to connect with several of the companies on the list, along with many other promising businesses.
In addition to being listed on the Cleantech 100 this year, Svante made some major announcements in recent months, including its closing of US$318 million in its Series E fundraising round, led by Chevron in December 2022. Further, the company ranked 2nd among privately owned companies in the Corporate Knights Future 50 Fastest-Growing Sustainable Companies in Canada ranking in June 2022. Svante has consistently been named in the Global Cleantech 100 report since 2019.
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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.
About Svante
Founded in 2007, 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. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu. For more information on Svante, visit www.svanteinc.com.
Media Contact
Colleen Nitta
Director of Marketing & Communications
+1 (604) 970-2813
Svante Recognized as a Great Place to Work®
Vancouver, BC – January 9, 2023 – In the wake of the new year, Vancouver-based carbon capture and removal solutions provider, Svante, has been awarded the Great Place to Work Certification™ by the eponymous workplace-culture auditing agency.
Operating for over three decades, Great Place to Work® acts as the global authority on workplace culture and employee experience, producing year-end lists that recognize certified workplaces in different regions, sectors, and progressive practices. The Great Place to Work® Institute reserves its certification for select companies that pass its employee audits, determined by the Trust Index© Score, which is calculated by the aggregate responses.
Svante’s survey results indicate an 86% Trust Index© Score from 121 survey respondents – 21% above the certification threshold. Additionally, 89% of Svante respondents agreed there was a sense of camaraderie within the company, while 87% of respondents believed Svante is credible and respectful, and that they were proud to work for the company.
“We’re delighted to be accredited as a Great Place to Work®” says Claude Letourneau, Svante’s President & CEO. “This certification speaks to the ethical and inclusive culture we strive to achieve at Svante. Our responsibility as an organization extends to more than just our partners and investors, but also to the satisfaction and wellbeing of our team that continues to propel us forward. We believe it’s instrumental to provide our employees with an environment that consistently supports and benefits them.”
On top of this certification, Svante has previously been ranked 2nd among privately owned companies in the Corporate Knights Future 50 Fastest-Growing Sustainable Companies in Canada ranking in June 2022. The company has also made it onto the prestigious Global Cleantech 100 list every year since 2019.
Founded in 2007, Svante has grown to employ over 200 employees from BC and other parts of the world. It is set to continue to hire throughout 2023. The company’s new world headquarters, the Centre of Excellence for Carbon Capture & Removal, currently under construction in Burnaby, BC, Canada, is expected to house over 300 employees, and will be the first facility in the world to manufacture Svante’s patented filter modules, which capture carbon dioxide emissions from the atmosphere and from industrial flue gas. The Centre of Excellence for Carbon Capture & Removal will produce enough filters to capture multi-millions of tonnes of CO2 each year across hundreds of carbon capture plants globally. The Great Place to Work® announcement follows Svante’s Series-E fundraising round in mid-December 2022, in which the company raised over US$318 million, led by Chevron New Energies.
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About Svante
Founded in 2007, 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. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu.
Media Contact
Colleen Nitta
Director of Marketing & Communications
cnitta@svanteinc.com
+1 (604) 970-2813
Svante Raises US$318 Million in Series E Round, Led by Chevron New Energies
HOUSTON & VANCOUVER—(BUSINESS WIRE)—December 15, 2022—Chevron New Energies (CNE), a division of Chevron U.S.A. Inc., and Svante announced that Chevron is the lead investor in Svante’s Series E fundraising round, which raised US$318 million that will be used to accelerate the manufacturing of Svante’s carbon capture technology.
Since its founding in 2007, Svante has developed carbon capture and removal technology using structured adsorbent beds, known as filters. This funding will support Svante’s commercial-scale filter manufacturing facility in Vancouver, which is anticipated to produce enough filter modules to capture millions of tonnes of carbon dioxide (CO2) per year across hundreds of large-scale carbon capture and storage facilities.
“We are proud that Chevron and a group of existing and new strategic and financial investors have demonstrated their confidence in Svante to be a key player in building a commercially viable carbon management industry,” said Claude Letourneau, President and CEO of Svante. “We are working to remove the biggest barriers to rapid deployment of industrial carbon capture by building this manufacturing facility, which we expect will enable us to rapidly expand our order book.”
The size and cost of installing carbon capture technology has been a barrier to industry adoption. Svante’s modular solid sorbent technology is designed to capture CO2 from industrial flue gas. It then concentrates it into a high-purity, 95-percent pipeline-grade CO2 to prepare it for storage or further industrial use. Its approach is tailored specifically to the challenges of separating CO2 from nitrogen in diluted flue gas, which is typically emitted at low pressures, and in dilute concentrations. Svante’s technology is targeted toward industrial decarbonization activities in fields including hydrogen, pulp and paper, lime, cement, steel, aluminum, and chemicals. Svante’s filters are also available for direct air capture and carbon dioxide removal.
In 2021, Chevron launched CNE to accelerate lower carbon business opportunities in CCUS, hydrogen, renewable fuels and products, offsets, and emerging technologies. Chevron plans to invest $10 billion in lower carbon projects through 2028 and remains committed to collaborating in new ways to accelerate progress.
Chevron Technology Ventures made an initial investment in Svante in 2014. In 2020, Chevron launched a project to pilot Svante technology to capture CO2 from post combustion of natural gas. The project has received funding from the U.S. Department of Energy (project #DE-FE0031944). In collaboration with Svante and the National Energy Technology Laboratory, the technology will be tested at Chevron’s Kern River facility in San Joaquin Valley, California, with startup underway this month.
Other fundraising round participants include existing shareholders Temasek, OGCI Climate Investments, Delek US and Hesta AG, and new investors, 3M Ventures (the venture capital arm of 3M Company), Full Circle Capital, GE Vernova, Japan Energy Fund, Liberty Media, M&G Catalyst, Samsung Ventures, TechEnergy Ventures and United Airlines Ventures. J.P. Morgan Securities LLC served as Svante’s lead placement agent with RBC Capital Markets as co-lead placement agent. Full Circle Capital acted as financial advisor to Svante in connection with the transaction.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management’s current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Svante Celebrates 15 Years Pioneering Carbon Capture & Removal Solutions
Carbon Capture & Removal Solutions Provider, Svante, Responds to the US’s New Inflation Reduction Act
Burnaby, BC – The following is an official statement about the US’s enactment of the Inflation Reduction Act, made by Claude Letourneau, President and CEO of leading Canadian carbon capture and removal solutions provider, Svante.
The US’s Inflation Reduction Act, signed into law on Tuesday by President Biden, is a monumental bill that truly demonstrates America’s commitment to climate action and a way to monetize CO2 emissions to develop a viable carbon management industry.
The US is the second largest emitter of CO2 after China, and the Inflation Reduction Act will play an essential role in helping the US and the world reach its net-zero emissions goals by 2050.
Atmospheric CO2 continues to rise to unprecedented levels due to human activities. We continue to emit more CO2 than our natural resources like oceans and trees can handle. This imbalance is cited to be approximately 18 gigatons per year. According to the US Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator, that’s equal to the CO2 emitted from driving 3.8 billion gasoline powered cars for a year, which amounts to a lot of CO2 that can’t be absorbed by our natural environment.
To fix this imbalance and reach net zero, the world needs several engineered solutions to avoid and manage carbon emissions on a global scale. This can be done through capturing carbon at the source of emission (point source) and through the removal of legacy carbon via direct air capture (DAC), as well as bio capture. Carbon management engineered solutions, like Svante’s, along with other tools in the toolbox such as renewables, electrification of vehicles, and hydrogen, are integral in the fight against climate change. According to the recent IRENA report, around 37 gigatons per year of CO2 emissions need to be mitigated which will cost a total of $120 trillion US dollars. Carbon capture and removal represents 2% of the total cost and will deliver 20% of the emissions mitigations benefit … it’s the ‘best bang for your buck’.
Carbon is deeply embedded into the global economy. CO2 is emitted when making steel, cement, hydrogen, energy, and important infrastructure. These products that we all enjoy are created with CO2 emissions, and it is impossible, today, to halt all production of these commodities. Because of this, and because we must act quickly, the world needs to capture CO2 from industrial emissions and safely store it underground or use it to make other products.
Without carbon capture, utilization and storage (CCUS), the world will not reach net zero by midcentury, and legislation such as the US’s 45Q Tax Credit enhancements will help propel our industry forward, enabling us to rapidly deploy CCUS projects at gigaton scale.
To effectively capture the CO2 currently being emitted into the atmosphere, the world needs to have 10,000 capture plants running over the next 30 years, or two plants a week in the next decade, at a cost of approximately $250 million per plant.
The cost of capturing CO2 today is approximately $50/tonne for point source capture and $350/tonne for direct air capture. The storage portion, in which a storage company transports and stores CO2 safely underground, costs around $10-$30/tonne, depending on the provider. This brings the cost of carbon capture and storage to around $70 to $80 per tonne — that’s $20-$30 more than what 45Q was originally offering. The US’s Inflation Reduction Act, signed into law this week by President Biden, enhanced 45Q, offering companies $85/tonne for point source and $180/tonne for DAC. This is impactful and will drive the investment required to bring mass commercial scale projects to financial investment decision (FID).
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About Svante
Svante is an original equipment manufacturer and technology provider of carbon capture and removal solutions that offers companies in heavy-emitting industries a commercially viable way to capture and remove carbon emissions. The carbon we capture is then concentrated to pipeline grade at >95% purity, which can be safely transported and stored underground or used for further industrial use in a closed loop. For more information about Svante, visit www.svanteinc.com.
Contact
Colleen Nitta
Director of Marketing & Communications
Svante
cnitta@svanteinc.com
604-970-2813
Construction Begins for New “Centre of Excellence for Carbon Capture & Removal” in British Columbia
BURNABY, British Columbia–(BUSINESS WIRE)– Canadian carbon capture and removal technology provider, Svante, hosted its ground-breaking ceremony this week in Burnaby, BC to launch the construction of its new world headquarters that it’s calling “The Centre of Excellence for Carbon Capture & Removal.” Provincial and Federal government officials attended and spoke at the event, including the Honourable Harjit Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada, The Honourable Bruce Ralston, BC’s Minister of Energy, Mines and Low Carbon Innovation, and The Honourable Ravi Kahlon, BC’s Minister of Jobs, Economic Recovery and Innovation. The Mayor of Burnaby, His Worship, Mike Hurley, also made a speech about the impact that Svante will have on the city as well as across the Canada and globe.
“We make investments in companies like Svante because our government believes in a green future. We know it’s possible to get to net zero. We know it is possible to get to net zero while creating jobs. We know it is possible to get to net zero while also growing our economy… Together we can show the world that Svante, British Columbia, and Canada have what it takes to be leaders in carbon capture,” said Minister Sajjan, referring to last summer’s announcement from Ottawa that the Canadian Government would provide $25 million in funding for Svante’s carbon capture technology.
Brett Henkel, Svante’s Co-founder, and VP of Strategic Accounts & Government Affairs started the company in his garage in 2007. “Here, we’ll employ over 200 British Columbians and many more around the globe. We’ll be able to scale up our commercial manufacturing facilities to deliver filter modules that can capture millions of tonnes of carbon dioxide every year, both from the atmosphere and from industrial flue gas. I’m thrilled at the opportunity we have in front of us today… to make a real, global impact… To take action on climate change.”
Minister Kahlon commented on the importance of companies like Svante in helping the province achieve its economic and environmental goals, “This is a big day for Svante. It’s a big day for Burnaby. But it’s also a big day for British Columbia. Svante’s new Centre of Excellence for Carbon Capture and Removal is an outstanding example of innovation here in British Columbia. It’s also an outstanding example of the vision that we share: for building a clean and inclusive economy that works for all British Columbians.”
The Centre of Excellence for Carbon Capture and Removal will be Canada’s first-of-a-kind commercial-scale carbon capture and removal manufacturing facility, where Svante’s patented filter modules will be produced for the capture of carbon dioxide emissions from the atmosphere and from industrial flue gas.
To learn more about Svante, visit www.svanteinc.com
About Svante:
Svante is a carbon management solutions provider that offers companies in heavy-emitting industries a commercially viable way to capture and remove carbon emissions. The carbon we capture is then concentrated to >95% purity, which can be safely transported and stored underground or used for further industrial use in a closed loop.
Media Alert:
Contacts
Colleen Nitta
Director of Marketing & Communications
Svante
cnitta@svanteinc.com
604-970-2813
Svante Ranked in the Future 50 Fastest-Growing Sustainable Companies in Canada
Coinciding with World Environment Day, BC-based carbon capture and removal technology provider, Svante, has ranked 2nd among privately owned companies in the Corporate Knights Future 50 Fastest-Growing Sustainable Companies in Canada ranking.
Corporate Knights, a Canadian media and research B Corp has been producing global corporate and fund rankings for nearly 20 years. The Future 50 Fastest Growing Sustainable Companies in Canada features emerging companies whose energy and innovation leaves them poised to be the market leaders in the future. These companies are selected from a pool of 5,115 Canadian companies whose business activities align with the transition to a global clean economy.
“To tackle the climate crisis, we’re going to need all kinds of solutions.”, says Toby Heaps, Founder and CEO of Corporate Knights. “Luckily, the Future 50 are putting them on the shelf faster than any other companies in Canada. Companies like Svante are contributing to this tapestry of solutions by demonstrating how decarbonization efforts like carbon capture are not only accelerating the transition to a clean energy economy but are also commercially viable across multiple heavy industry applications. Investor enthusiasm reflects this momentum as evidenced by the $147 million raised by Svante last year, a 4,262% increase from the $3.4 million raised by the company in 2018. Svante is contributing to the creation of a more sustainable Canada, and we are proud to recognize their leadership in the Future 50.”
“Being listed amongst the incredible companies that are a part of the Future 50 ranking is a true honour. We are thrilled.”, says Claude Letourneau, Svante’s President & CEO. “To be ranked in the top two private companies is a testament to the passion and dedication of our people and the key role our business and carbon management is playing in the fight against climate change, alongside renewables, hydrogen, and electrification. Getting to net-zero is going to take global support from the financial sector, policymakers, and the general public. The media plays an important role in sharing the message that the time to act and scale is now, and it’s great to see our efforts are being recognized in reputable publications like the Corporate Knights.”
The Future 50 ranking is made up of the fastest-growing 25 publicly traded companies (selected based on year-over-year revenue growth %) and the fastest-growing 25 privately owned companies (selected based on growth % in capital raised from two most recent years of fundraising rounds) that earn more than 50% of their revenue from clean energy sources. Corporate Knights’ definition of clean energy aligns with the International Energy Agency definition, which includes energy efficiency.
The Future 50 list includes companies from a number of different sectors and Canadian provinces, providing tangible examples of how a net-zero economy can create an abundance of new opportunity.
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About Svante
Founded in 2007, 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. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu.
Please direct media inquiries to:
Colleen Nitta
Director of Marketing & Communications
cnitta@svanteinc.com
+1 (604) 970-2813
MOF Sorbent on a Roll – A Scalable Solution for Gigaton Scale Carbon Capture
• Results of research published today in the international peer-reviewed journal, Science.
• A durable and scalable metal-organic framework (MOF) captures CO2 with high capacity, high stability and selectivity over steam with modest regeneration penalty.
VANCOUVER, BC, December 16, 2021 (BUSINESS WIRE) – Svante Inc. announced today the successful scale-up of a new sorbent material used in carbon capture processes. This sorbent can capture up to 95% of carbon dioxide (CO2) emitted from industrial sources, such as cement and blue hydrogen plants, using rapid solid adsorption and low temperature steam.
By engineering the structure of the metal-organic framework (MOF) nano-material, Svante’s team of scientists, along with University of Calgary’s professor George Shimizu and his team of faculty and students, have been working collaboratively for four (4) years to develop and scale-up this novel sorbent material that acts as a sponge for adsorbing CO2. Results of the research was accepted to be published today in the international peer-reviewed journal, Science. These results demonstrated the very special characteristics of this sorbent together with its resistance to oxidation and water vapor, allowing CO2 to be captured at low cost using Svante’s proprietary structured adsorbent filter.
Solid sorbents are a step change for carbon capture but the challenge is to merge all of the desirable commercially viable features into a robust framework material with a low manufacturing cost. Calgary Framework 20 (CALF-20) is a metal-organic framework that addresses this challenge and captures CO2 with high capacity and selectivity over water. “For high performance CO2 capture and removal, steam stripping –where direct contact steam is used to flush CO2 out of the sorbent– has been a sort of holy grail in the field. It is seen as the most effective way to do it.” said Claude Letourneau, President & CEO of Svante Inc. “This MOF material, combined with our proprietary structured adsorption filter, is a game-changer. We have the technology to reduce the capital cost of CO2 capture. Now we need to scale up this technology and commercialize it to create a viable marketplace for CO2”.
Svante, in collaboration with BASF, have successfully scaled-up the CALF-20 MOF sorbent from laboratory to industrial size by using a simple low temperature process in accordance with green chemistry principles. Scalability and low cost of solid sorbent are imperative since the quantity of sorbent required for a typical cement flue gas carbon capture plant is in the range of 200 tonnes. Furthermore, over two thousand carbon capture plants need to be deployed by 2040 or equivalent to commission two world-class CO2 capture plants per week for the next 20 years. Up until now, large scale production of MOF materials at low cost had been a barrier for the gas separation industry.
In addition to scaling-up the MOF (CALF-20) manufacturing process, Svante has developed a high volume and low-cost roll-to-roll process for coating the sorbent onto a sheet laminate called “Sorbent on a Roll”. This laminate is then stacked into a high-performance filter with low pressure drop and high CO2 capacity.
About Svante
Svante offers companies in emissions-intensive industries a 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 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. 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 Pilot Plant Project – a partnership between Lafarge (Holcim) and TotalEnergies. – is operating a 1 tonne per day (TPD) plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 TPD demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 TPD demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. In addition, several feasibility studies for commercial scale carbon capture projects ranging from 500 to 4,500 TPD are underway in North America and Europe.
Svante Inc. has selected Kiewit Engineering Group Inc. to provide engineering, procurement and construction (EPC) services for two US DOE funded carbon capture projects. On September 1, 2020, the United States Department of Energy’s National Energy Laboratory Technology (DOE-NETL) through Electricore awarded $1,500,000 in federal funding for cost-shared development to support the initial engineering analysis and advancement of the LH CO2MENT Colorado first-of-a-kind commercial project of up to 1.5 million tonnes per year of CO2; and $13,000,000 in federal funding for the cost-shared development to support the design, construction and operation of a second-of-a-kind engineering-scale carbon capture plant at Chevron’s Kern River oil field in the San Joaquin Valley, California. Both of these US DOE-NETL projects are using the novel CALF-20 MOF sorbent material.
Svante has attracted more than USD$195 million in investment since it was founded in 2007 including the recent CDN$25 million investment from the Government of Canada’s Strategic Innovation Fund. Svante is building scalable supply chain for active capture materials to address a broad carbon capture and removal solutions offering at Gigaton scale. Svante’s Board of Directors includes Nobel Laureate and former US Secretary of Energy, Steven Chu, and Chairman Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website www.svanteinc.com, LinkedIn or Twitter (@svantesolutions).
Contacts Svante
Media relations
Julia McKenna
jmckenna@svanteinc.com
+1 (778) 985 5722
More links:
https://www.businesswire.com/news/home/20211216006031/en/MOF-Sorbent-on-a-Roll-%E2%80%93-A-Scalable-Solution-for-Gigaton-Scale-Carbon-Capture
https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/mof-sorbent-on-a-roll-a-scalable-solution-for-gigaton-scale-carbon-capture
Technip Energies partners with Svante to develop industrial-scale carbon capture projects in Europe and Middle-East
Vancouver/Paris, November 21, 2021- Technip Energies (PARIS:TE) and Svante have entered into a Memorandum of Understanding (MoU) to further develop Svante’s solid sorbent carbon capture technology and provide integrated solutions from concept to project delivery.
The partnership will explore opportunities in Europe, Middle-East and Africa (EMEA) and Russian Federation markets where Svante’s technology would be selected by end Clients for industrial carbon capture projects, including cement & limestone, blue hydrogen, refineries, petrochemicals, steel, ammonia and pulp & paper facilities. The cooperation will be worldwide for blue hydrogen plants using Technip Energies’ Steam Methane Reformer (SMR) technology.
The carbon-capture facilities will use Svante’s solid sorbent technology to capture carbon directly from industrial post-combustion flue gases as a non-intrusive ‘’end-of-the-pipe’’ solution to produce pipeline-grade carbon dioxide. Svante innovative net-zero technology captures carbon dioxide, concentrates it, and releases it for safe storage or industrial use, all in less than 60 seconds, by using proprietary active capture nano-materials called ‘’solid sorbent filter’’.
Through this collaboration, both companies intend to address the critical need of lowering the capital cost of the capture of the carbon dioxide emitted from industrial production in order to achieve the world’s net-zero carbon goals required to stabilize the climate. Leaders from industry, financial sectors and government agree on the enormity of the challenge and the critical need to deploy more than 2,000 carbon capture and carbon removal plants by 2040. This is equivalent to put in operations about 2 plants a week over the next 20 years.
Arnaud Pieton, CEO of Technip Energies, said: ‘’We are glad to collaborate with Svante on their emergent carbon capture technology for the decarbonization of hard-to-abate industries by leveraging our expertise in technology co-development and integration as well as design, procurement and construction of carbon capture plants. This partnership clearly reflects the significant role of industrial-scale technologies to accelerate the transition towards a low-carbon society.’’
Claude Letourneau, President and CEO of Svante, said: “This partnership with Technip Energies will allow us to focus our development effort in building a scalable supply chain for active capture materials to address a broad carbon capture and removal solutions offering at Gigaton scale. Svante is currently expanding its commercial filter manufacturing facility in Canada. By the end of 2023, the new facility will have an annual capacity to deliver filter modules capable of removing 3 million tonnes of carbon dioxide per year or the equivalent of project delivery of 3 world-scale carbon capture plants of 1 million tonnes per year’’.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States.
For further information: www.technipenergies.com.
About Svante
Svante offers companies in emissions-intensive industries a 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 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. 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 Pilot Plant Project – a partnership between Lafarge (Holcim) and TOTAL Energies – is operating a 1 tonne per day (TPD) plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 TPD demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 TPD demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. In addition, several feasibility studies for commercial scale carbon capture projects ranging from 500 to 4,500 TPD are underway in North America and Europe.
Svante has attracted more than USD$195 million in investment since it was founded in 2007 including the recent CDN$25 million investment from the Government of Canada’s Strategic Innovation Fund. Svante is building scalable supply chain for active capture materials to address a broad carbon capture and removal solutions offering at Gigaton scale. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu, and Chairman Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website www.svanteinc.com, LinkedIn or Twitter (@svantesolutions).
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
Contacts Technip Energies
| Investor relationsPhil Lindsay Vice-President Investor Relations Tel: +44 203 429 3929 Email: Phillip Lindsay |
Media relationsStella Fumey Director Press Relations & Digital Communications Tel: +33 (1) 85 67 40 95 Email: Stella FumeyJason Hyonne Press Relations & Social Media Lead Tel: +33 1 47 78 22 89 Email: Jason Hyonne |
Contacts Svante
Media relations
Julia McKenna
jmckenna@svanteinc.com
+1 (778) 985 5722
Cross Carbon Ventures Announces Formation of Carbon Capture Development Partnership
Vancouver, BC/ Calgary, AB/Greenwich, CT, July 30, 2021 – Svante Inc., Enbridge Inc. (TSX: ENB) (NYSE: ENB), Cross River Infrastructure Partners LLC, and OTS Ltd., have entered into a commercial Memorandum of Understanding that establishes Cross Carbon Ventures (CCV), an independent carbon capture development partnership. CCV will explore commercial opportunities in North America to develop, build, own and operate carbon capture projects for carbon intensive industries seeking to decarbonize their operations.
CCV will target the decarbonization of emissions by heavy industries including cement, steelmaking, petroleum refining, and large-scale hydrogen production through the development of point-source carbon capture projects.
“Providing large-scale industrial emitters with a Carbon Capture-as-a-Service offering will be integral to scaling up the carbon capture industry along with CO2 hubs to achieve global decarbonization targets,” said Aaron Ratner, President of CCV.
CCV will leverage Svante’s innovative technology to capture carbon directly from industrial post-combustion flue gases to produce pipeline-grade CO2 for safe transportation and storage.
“CCV is an ideal partnership to commercialize our technology and to provide a net-zero CO2 emission solution. CCV’s offering, along with progressive carbon abatement policies can make a Carbon Capture-as-a-Service business model profitable across a range of large-scale industrial applications,’’ said Claude Letourneau, Svante’s President and CEO.
Enbridge, North America’s leading energy infrastructure company, has a unique asset footprint and capabilities spanning the transportation and storage of conventional and low carbon energy sources that are essential to meeting global emissions reduction goals.
CCV will also benefit from OTS’s experience in operational readiness, commissioning, operation and maintenance of complex first-of-a-kind sustainable infrastructure projects.
Vancouver, BC/ Calgary, AB/Greenwich, CT, July 30, 2021 – Svante Inc., Enbridge Inc. (TSX: ENB) (NYSE: ENB), Cross River Infrastructure Partners LLC, and OTS Ltd., have entered into a commercial Memorandum of Understanding that establishes Cross Carbon Ventures (CCV), an independent carbon capture development partnership. CCV will explore commercial opportunities in North America to develop, build, own and operate carbon capture projects for carbon intensive industries seeking to decarbonize their operations.
CCV will target the decarbonization of emissions by heavy industries including cement, steelmaking, petroleum refining, and large-scale hydrogen production through the development of point-source carbon capture projects.
“Providing large-scale industrial emitters with a Carbon Capture-as-a-Service offering will be integral to scaling up the carbon capture industry along with CO2 hubs to achieve global decarbonization targets,” said Aaron Ratner, President of CCV.
CCV will leverage Svante’s innovative technology to capture carbon directly from industrial post-combustion flue gases to produce pipeline-grade CO2 for safe transportation and storage.
“CCV is an ideal partnership to commercialize our technology and to provide a net-zero CO2 emission solution. CCV’s offering, along with progressive carbon abatement policies can make a Carbon Capture-as-a-Service business model profitable across a range of large-scale industrial applications,’’ said Claude Letourneau, Svante’s President and CEO.
Enbridge, North America’s leading energy infrastructure company, has a unique asset footprint and capabilities spanning the transportation and storage of conventional and low carbon energy sources that are essential to meeting global emissions reduction goals.
CCV will also benefit from OTS’s experience in operational readiness, commissioning, operation and maintenance of complex first-of-a-kind sustainable infrastructure projects.
About Svante
Svante offers companies in emissions-intensive industries a 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 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. 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 Pilot Plant Project – a partnership between Lafarge (Holcim) and TOTAL S.A. – is operating a 1 tonne per day (TPD) plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 TPD demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 TPD demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. In addition, several feasibility studies for commercial scale carbon capture projects ranging from 500 to 4,500 TPD are underway in North America and Europe.
Svante has attracted more than USD$195 million in investment since it was founded in 2007 including the recent CDN$25 million investment from the Government of Canada’s Strategic Innovation Fund. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu, and Chairman Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website www.svanteinc.com, LinkedIn or Twitter (@svantesolutions).
About Enbridge
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,766 MW of net renewable power in North America and Europe. The Company’s common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.
About Cross River Infrastructure Partners
Cross River Infrastructure Partners LLC is a platform of development companies deploying industry-leading climate technologies and sustainable infrastructure projects across carbon capture and carbon utilization, sustainable protein, clean fuels and clean energy. Cross River focuses on developing and commercializing early and first-of-a-kind projects in North America. For more information, visit www.crossriverllc.com.
About OTS
OTS is a premier provider of Pre-Commissioning, Commissioning and Start-Up and Operations and Maintenance services for the energy, mining and utility sectors. With four locations throughout North America and a roster of hundreds of skilled employees, OTS has worked on major capital projects since inception in 2005. Our leading quality management system, based on ISO 9001:2015 standards, ensures consistency and precision in project execution. Our management team is hands-on for every project and are always accessible. Real-time reporting, a commitment to safety and rigorous training, make OTS the best choice to get your project into a steady-state operation safely and efficiently. For more information, please visit www.otsl.ca.
Cross Carbon Ventures Contact
Aaron Ratner
aratner@crossriverllc.com
Enbridge Contact
media@enbridge.com
+1 (888) 992 0997
Svante Contact
Julia McKenna
jmckenna@svanteinc.com
+ 1 (778) 985 5722
OTS Contact
Matt Denney
mdenney@otsl.ca
+1 (902) 577-6209
Svante Receives $25 million from Government of Canada for Carbon Capture
VANCOUVER, BC, Canada, July 7, 2021 – Svante Inc., announced that the Government of Canada made a CDN$25 million investment to support the industrialization and commercialization of its novel low-cost carbon capture technology within the North American market. Carbon capture is a technology that can recover up to 95% of the carbon dioxide (CO2) emissions produced from the use of fossil fuels in electricity generation and industrial processes, preventing the carbon dioxide from entering the atmosphere.
The investment announced today comes from the Strategic Innovation Fund’s Net Zero Accelerator initiative and aligns with Government of Canada’s strengthened climate plan – A Healthy Environment and a Healthy Economy, which will help Canada achieve its economic and environmental goals.
With this investment, Svante will set-up a new Centre of Excellence for Carbon Capture Use and Storage (CCUS) in Vancouver, BC that will allow the company to scale up its manufacturing operations to produce commercial scale structured absorbent filters and to test its proprietary rapid adsorption machine (RAM) designs.
“We are keen to partner with Canadian companies like Svante that are creating clean technologies that will help key industries around the world, including in Canada, significantly cut down their greenhouse gas emissions. This project will create good jobs in Burnaby and Vancouver in clean technologies, and it will grow Canada’s leadership in this increasingly important sector of our economy.” said the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.
‘’Vancouver is the Silicon-Valley of carbon capture technology development and we are very proud to anchor our World Headquarter, R&D and Engineering test center, and first commercial filter manufacturing plant in Canada’’ said Claude Letourneau, President & CEO from Svante Inc. “Lowering the capital cost of the capture of the CO2 emitted in industrial production is critical to the world’s net-zero carbon goals required to stabilize the climate. Leaders from industry, financial sectors and government agree on the enormity of the challenge and the critical need to deploy carbon capture and carbon removal solutions at Gigatons scale. The carbon pulled from earth as fossil fuel needs to go back into the earth in safe CO2 storage.”
Decarbonization of unavoidable emissions by heavy industries, such as cement, limestone and large-scale hydrogen production, will require significant deployment of point-source carbon capture projects over the next decade. Svante innovative net-zero solution will capture CO2, concentrate it, and release it for safe storage or industrial use, all in 60 seconds, by using nano materials called ‘’solid sorbent’’. Svante is expected to be the first industrial point-source carbon capture technology provider using solid sorbents to expand its manufacturing supply chain at commercial scale within the North American market. The filter manufacturing plant will have an annual capacity to delivery filter modules capable of removing 3 million tonnes of CO2 per year or the equivalent of project delivery of 3 world-scale carbon capture plants of 1 million tonnes per year.
Svante has now attracted more than USD$195 million in funding since it was founded in 2007 to develop and commercialize its breakthrough solid sorbent technology at half the capital cost of traditional engineered solutions. Its technology is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors. The CO2MENT Pilot Plant Project – a partnership between LafargeHolcim and TOTAL S.A. – is operating a 1 tonne per day (TPD) plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 TPD demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 TPD demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. In addition, several feasibility studies for commercial scale carbon capture projects ranging from 500 to 4,500 TPD are underway in North America and Europe.
Suncor Energy invests in carbon capture technology company Svante
About Svante Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale 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 and CEO of OGCI Climate Investments Pratima Rangarajan. To learn more about Svante’s technology, click here or visit Svante’s website at www.svanteinc.com. You can also connect with us on LinkedIn or Twitter @svantesolutions. About Suncor Energy Suncor Energy is Canada’s leading integrated energy company. Suncor’s operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources, while also growing a renewable energy portfolio and advancing the transition to a low-carbon future. Suncor is listed on the UN Global Compact 100 stock index. Suncor’s common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. For more information about Suncor, visit our web site at suncor.com, follow us on Twitter @Suncor. Suncor: Legal Advisory – Forward Looking Information This news release contains certain forward-looking statements within the meaning of applicable Canadian and U.S. securities laws. Some of the forward-looking statements may be identified by words like “expected”, “potential” and similar expressions. Forward-looking statements are based on information available at the time the statement was made. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied by its forward-looking statements. Suncor’s most recently filed Management’s Discussion & Analysis and other documents Suncor files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements. Svante Contact Julia McKenna (media) jmckenna@svanteinc.com + 1 (778) 985 5722 Suncor Contacts Media inquiries media@suncor.com +1 (833) 296 4570 Investor inquiries invest@suncor.com +1 (800) 558 9071
[example: autopopulated] Svante partners with Kiewit to develop industrial-scale carbon capture projects in North America – Copy
Chart Industries Invests $15 million in Svante Inc. and Signs Commercial Carbon Capture MOU
Vancouver, BC/Atlanta, /GA, February 2, 2021 – Svante Inc. and Chart Industries Inc. (‘’Chart’’) (NYSE: GTLS), a leading global manufacturer of liquefaction and cryogenic equipment for the energy and industrial gas markets, have entered into a binding commercial Memorandum of Understanding (“MOU”). The MOU establishes how the companies will explore commercial opportunities as channel to market preferred partners and collaborate to develop an integrated carbon capture solution using Svante’s rapid adsorption technology and Chart’s cryogenic carbon capture technology to make high-purity CO2 products from industrial flue gas streams. The MOU was executed in conjunction with the completion of Chart’s investment in Svante in the amount of $15 million representing under 10% of its capital stock on a fully diluted basis. The investment was done as part of Svante’s Series D offering which closed on February 1, 2021.
‘’Value chain partnerships with leaders like Chart have been an important part of our commercialization strategy and integral to our success marketing world-leading competitive carbon capture solution’s,’’ said Claude Letourneau, President & CEO of Svante Inc. ‘Chart offers a great range of products and services in the CO2 cryogenic separation and liquefaction space complementary to our carbon capture proprietary equipment.
“Yesterday’s investment in Svante and the acquisition of Sustainable Energy Solutions Inc. (SES) further builds partnerships to create a one-stop solution for those looking for integrated technology and equipment for carbon capture and direct air capture, liquefication and transport of CO2’’ said Jill Evanko, President & CEO of Chart Industries Inc. ‘’Our air-cooled heat exchangers, brazed aluminum heat exchangers, IPSMR© refrigeration/liquefaction system and cryogenic storage/transport equipment are a significant part of the balance-of-plant within carbon capture, utilization and storage (‘’CCUS’’) projects.’’
As a value-added reseller, Svante will be part of the sales channel of Chart OEM business in CO2 products. This will allow both organizations to standardize related process equipment and offer market competitive integrated solutions to streamline the contracting process. The carbon-capture facilities will employ Svante’s solid sorbent technology to capture carbon directly from industrial post-combustion flue gases as a non-intrusive ‘’end-of-the-pipe’’ solution to produce pipeline-grade CO2 for safe transportation and storage. Additionally, there is a significant synergy potential to integrate Chart’s SES Carbon Capture Technology (“CCC”) with Svante’s technology, creating an even more cost competitive solution while obtaining or maintaining the highest purity of CO2 (99.99%).
Chart’s investment furthers access to commercial projects underway and new opportunities in the North American carbon capture market. For example, Chart will benefit from Svante’s technology currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors. The CO2MENT Pilot Plant Project – a partnership between LafargeHolcim and TOTAL S.A. – is operating a 1 tonne per day plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 tonne per day demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 tonne per day demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. In conjunction with this investment, the commercial trends from Chart’s recent acquisitions of SES, Worthington hydrogen trailers, Worthington microbulk and BlueInGreen and our strong fourth quarter 2020 order book (record backlog of $810 million), Chart anticipates increasing 2021 guidance on our year-end 2020 earnings call which is scheduled for February 18, 2021 at 9:30am eastern time. Chart’s fourth quarter of 2020 was a very strong free cash flow generating quarter. December 31, 2020 net leverage ratio was 1.72. December 31, 2020 pro forma net leverage ratio including the $15 million Svante investment is 1.79.
Svante Raises $75 Million to Decarbonize Cement and Hydrogen Production
PRESS RELEASE
Svante Raises $75 Million to Decarbonize Cement and Hydrogen Production
VANCOUVER, BC, Canada – February 2, 2021 (GLOBE NEWSWIRE) – Svante Inc. announced that it has successfully closed USD $75 million of Series D equity financing, the largest private investment into point source carbon capture globally to date. The financing was led by Temasek and includes strategic investors Chart Industries (‘’Chart’’) (NYSE: GTLS), Carbon Direct and Export Development Canada (EDC). Existing investors OGCI Climate Investments, BDC Cleantech Practice, Chevron Technology Ventures, The Roda Group and Chrysalix Venture Capital also participated in the round, reflecting strong on-going support for the Company, including its market strategy and recent progress.
This USD$75 million of new financing provides the Company with growth capital to advance a number of initiatives over the next three years, including work to support several commercial scale carbon capture facilities to address hard-to-abate emissions from industrial operations (such as cement manufacturing, blue hydrogen production and natural gas boilers). Svante has now attracted more than USD$150 million in funding since it was founded in 2007 to develop and commercialize its breakthrough solid sorbent technology at half the capital cost of traditional engineered solutions.
“Lowering the capital cost of the capture of the CO2 emitted in industrial production is critical to the world’s net-zero carbon goals required to stabilize the climate. Leaders from industry, financial sectors and government agree on the enormity of the challenge and the critical need to deploy carbon capture and carbon removal solutions at Gigatons scale. The carbon pulled from earth as fossil fuel needs to go back into the earth in safe CO2 storage,” said Claude Letourneau, President CEO of Svante Inc. “The success of our financing is further evidence that Svante’s innovative solution is well positioned to address these challenges in the near term. We are proud that Temasek and a group of new strategic investors have demonstrated their confidence in Svante to play a key role in building a commercially viable CO2 marketplace.’’
According to Jill Evanko, President & CEO of Chart, “This collaboration with Svante builds on Chart’s cryogenic technologies and equipment offering for CO2. This is another significant step in our clean energy, clean water, clean industrial penetration, with further carbon capture advanced technology that, in combination with our existing offering, adds another capability for deployment at scale of an end-of-the-pipe solution targeted to industrial materials and blue hydrogen. We believe the combination of Chart, SES and Svante will further advance lower global emissions within the current economics of carbon markets, as well as driving further advancements in the market.”
“Svante exhibits both technology leadership and a capital-light business model. Taken together, we believe the Company is optimally positioned to scale point source capture globally,” commented Jonathan Goldberg, Founder and CEO of Carbon Direct. “As a growth equity investor focused on the carbon capture ecosystem, we are delighted to join Svante’s roster. We also look forward to ongoing collaboration between our scientific advisory practice and Svante’s management.”
Supporting Svante with the transaction were financial advisors Fort Capital Partners and Full Circle Capital, and legal counsel Blake, Cassels & Graydon LLP.
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 used 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 and CEO of OGCI Climate Investments Pratima Rangarajan. To learn more about Svante’s technology, click here or visit Svante’s website at www.svanteinc.com, LinkedIn or Twitter (@svantesolutions).
About Temasek
Temasek is an investment company with a net portfolio value of S$306 billion (US$214 billion) as at 31 March 2020. Temasek’s investment philosophy is anchored around four key themes: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. It actively seeks sustainable solutions to address present and future challenges, as it seeks to capture investment and other opportunities that help to bring about a better, smarter and more sustainable world. Headquartered in Singapore, Temasek has 11 offices around the world. For more information on Temasek, please visit www.temasek.com.sg.
About Chart Industries
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Chart’s unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. At the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to LNG, hydrogen, biogas and CO2 capture amongst other applications. To learn more, visit www.chartindustries.com.
About Carbon Direct
Carbon Direct provides both scientific advisory services and investment capital to the carbon removal & utilization ecosystem. Our advisory business works for clients to fulfill their carbon removal & utilization commitments. Carbon Direct’s team of world-renowned carbon scientists has a nuanced understanding of the true risks and opportunities of emerging and mature carbon removal & utilization technologies. Our investment business makes direct investments into leading carbon removal & utilization companies. Carbon Direct was founded in 2019 by Jonathan Goldberg and has offices in New York City. To learn more, visit www.carbon-direct.com.
Carbon Direct LLC Contact
Mark Strachan (COO)
mstrachan@carbon-direct.com
+1 (212) 742 3700
Svante Contact
Julia McKenna (Media)
jmckenna@svanteinc.com
+1 (778) 985 5722
Chart Industries Contact
Wade Suki, CFA (Director of Investor Relations)
wade.suki@chartindustries.com
+ 1 (832) 524 7489
Carbon Direct Makes First Investment in Svante Carbon Capture Company
PRESS RELEASE
Carbon Direct Makes First Investment in Svante Carbon Capture Company
Collaboration to focus on scaling net-zero carbon engineered solutions
Vancouver, BC/New York City, NY- February 2, 2021 – Carbon Direct Capital Management LLC announced that it has closed its first equity investment into Vancouver-based Svante Inc, a global carbon capture technology leader using proprietary solid structured adsorbent nano-filters to prevent climate-relevant amounts of CO2 from going into our atmosphere or removing them from air. On February 2, 2021, Svante closed its USD $75 million Series D equity financing. Carbon Direct was a significant participant in the round, which was led by Temasek. Following the Series D financing, Jonathan Goldberg, the CEO of Carbon Direct, will join Svante’s board as an observer.
Svante offers companies in industries with unavoidable emissions, such as cement and chemicals, a commercially viable way to capture large-scale CO2 emissions from existing infrastructure at half the capital cost of traditional engineered solutions. Svante is also well positioned to play a significant role in the decarbonization of ‘’blue’’ hydrogen production.
Carbon Direct combines human and financial capital to scale carbon removal & utilization into a major global industry. Carbon Direct was founded in 2019 by Jonathan Goldberg, a former commodities trader and the managing partner of BBL Commodities LLC. Mr. Goldberg is on the advisory board of Columbia University’s Center on Global Energy Policy. Carbon Direct employs a team of 26 world-renowned scientists who conduct technical research on carbon technologies for its advisory clients. The firm also invests committed capital into leading growth companies in the carbon removal & utilization space. Svante is squarely within the firm’s core investment mandate.
We strive to create world-changing solutions that address climate change and accelerate the global transition to carbon neutrality, reversing human impact on the climate’’ said Claude Letourneau, President & CEO. ‘’We are very proud to partner with a team of world-renowned carbon scientists at Carbon Direct to confront difficult facts head on and have the passion, courage and technical excellence to prevail and deliver innovative customer centric solutions.’’
‘’Svante addresses more than 7 Gigatons of carbon dioxide that are emitted annually from industrial sources’’,
commented Jonathan Goldberg, CEO of Carbon Direct. “The company excels at both research & development and commercialization. Svante’s growing project pipeline reflects its value proposition as a low cost provider of modular, point source capture solutions. We look forward to working with Svante as they strive to lower the cost of capture of CO2 and contribute to net-zero goals” said Mr. Goldberg.
“Svante exhibits both technology leadership and a capital-light business model. Taken together, we believe the Company is optimally positioned to scale point source capture globally,” commented Josh Dienstag, Chief Investment Officer of Carbon Direct. “As a growth equity investor focused on the carbon capture ecosystem, we are delighted to join Svante’s roster.”
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 Pilot Plant Project – a partnership between LafargeHolcim and TOTAL S.A. – is operating a 1 tonne per day plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 tonne per day demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 tonne per day demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. A direct air capture (DAC) demonstration plant in Palm Spring, CA, using Climeworks DAC solution together with Svante’s structured adsorbent bed technology to lower the cost of DAC is currently under construction.
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 used 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 and CEO of OGCI Climate Investments Pratima Rangarajan. To learn more about Svante’s technology, click here or visit Svante’s website at www.svanteinc.com, LinkedIn or Twitter (@svantesolutions).
About Carbon Direct LLC
Carbon Direct provides both scientific advisory services and investment capital to the carbon removal & utilization ecosystem. Our advisory business works for clients to fulfill their carbon removal & utilization commitments. Carbon Direct’s team of world-renowned carbon scientists has a nuanced understanding of the true risks and opportunities of emerging and mature carbon removal & utilization technologies. Our investment business makes direct investments into leading carbon removal & utilization companies. Carbon Direct was founded in 2019 by Jonathan Goldberg and has offices in New York City. To learn more, visit www.carbon-direct.com.
Carbon Direct LLC
Mark Strachan (COO)
mstrachan@carbon-direct.com
+1 (212) 742 3700
Svante
Julia McKenna (Media)
jmckenna@svanteinc.com
+1 (778) 985 5722
Walking the Net-Zero Talk
(Calgary, AB) Lafarge Canada Inc. (Lafarge) and Svante Inc. (Svante), and Total have reached a major milestone of Project CO2MENT, a first of its kind partnership to capture industrial levels of CO2 emissions from a cement plant. The multi-phase project aimed to have CO2 flow by the end of this month, and proudly reports the achievement of this milestone at the Lafarge Richmond Cement facility in British Columbia.
“This has been a turbulent year for business and people due to the COVID-19 pandemic with many large scale projects being put on hold, but the perseverance that the people working at the Richmond Cement plant continue to show is evident in the success of Project CO2MENT,” stated Brad Kohl, President, and CEO of Lafarge Western Canada. “To be the world leader in the building materials industry means we are always looking to partner with industrious and like-minded thought leaders such as Svante and Total. This partnership is showcasing our drive towards a net-zero future, and we are seeing this vision become a reality, right now with this project,” added Kohl.
Claude Letourneau, President & CEO of Svante, noted, “When we think about the fight against climate change, we know there has been work on energy efficiencies, renewables, but no major developments on capturing and cost-effectively using CO2 emissions from industrial sources, until now. The last piece of this problem is essential because it is the part that allows us to transition to a carbon-neutral marketplace. Our partnership with Lafarge is building a new net-zero economy, and that is a very positive message we are sending to the world – it can be done.”
The Svante capture unit, a carbon capture technology designed to trap CO2 produced from industrial processes, installed at the Richmond Cement Plant, allows the cement facility to capture the CO2 contained in its cement flue gas and to reuse it for CO2-cured concrete, thus storing it permanently. This development, coupled with the alternative fuels used at the plant, makes the world’s first full-cycle solution to capture and reuse CO2 from a cement plant. The carbon-efficient examples achieved here are leading the way to a near-zero emissions cement facility.
The technology and implementation of Project CO2MENT are transformative and have not been used in a cement plant before in the world. Future work, over the next 3 years, will include the installation of a liquefaction unit and the development of an expansion project to further reduce emissions, as well as a business case review for further expansion across the Lafarge network. Continually pushing the boundaries through innovative and sustainable solutions on the road to a circular economy deepens Lafarge’s commitment to reducing CO2 at its operations.
About Lafarge Canada Inc.
Lafarge is Canada’s largest provider of sustainable construction materials and a member of the global group, LafargeHolcim. With 6,000 employees and 350 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. www.lafarge.ca
Contact
Aleya Adams
aleya.adams@lafargeholcim.com
403-831-7961
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; CEO of OGCI Climate Investments Pratima Rangarajan; and Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. www.svanteinc.com
Contact
Julia McKenna
jmckenna@svanteinc.com
778-985-5722
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.
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
Svante selects Kiewit Engineering to develop industrial-scale carbon capture projects
Vancouver, BC/Lenexa, KS, September 16, 2020 – Svante Inc. has selected Kiewit Engineering Group Inc. to provide engineering, procurement and construction (EPC) services for two DOE funded carbon capture projects. On September 1, the United States Department of Energy’s National Energy Laboratory Technology (DOE-NETL) awarded $1,500,000 in federal funding for cost-shared development to support the initial engineering analysis and advancement of the LH CO2MENT Colorado first-of-a-kind commercial project of up to 2 million tonnes per year of CO2; and $13,000,000 in federal funding for the cost-shared development to support the design, construction and operation of a second-of-a-kind engineering-scale carbon capture plant at Chevron’s Kern River oil field in the San Joaquin Valley, California.
The carbon-capture facilities will employ Svante’s solid sorbent technology to capture carbon directly from industrial post-combustion flue gases as a non-intrusive ‘’end-of-the-pipe’’ solution to produce pipeline-grade CO2 for safe storage.
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 Pilot Plant Project – a partnership between LafargeHolcim and TOTAL S.A. – is building a 1 tonne per day plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 tonne per day demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. The demonstration plant is currently operating with an up-stream factor of about 85% and achieving the design performance.
‘’We are very proud to become the engineering and construction partner of Svante for the deployment of this novel technology leveraging our expertise in building carbon capture plants. New technologies have the greatest probability of success when deployed with an integrated project delivery approach by organizations skilled at driving cost and schedule certainty,’’ said Jon P. Gribble, EVP Services, Kiewit Engineering Group Inc.
“With the development of new sustainable investment strategies, in combination with government policies such as the United States’ 45Q tax credit to incentivize industry and traditional project financing, the financial sector is poised to support industrial scale carbon capture that will have a meaningful impact on the climate change,” said Claude Letourneau, President and CEO of Svante. “These projects along with the US DOE-NETL funding are an important external validation that we are becoming a significant global technology provider in the carbon capture space across a range of large-scale industrial applications like cement and blue hydrogen”.
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; CEO of OGCI Climate Investments Pratima Rangarajan; and Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website. You can also connect with us on LinkedIn or Twitter @svantesolutions.
About Kiewit
Kiewit is one of North America’s largest and most respected construction and engineering organizations. With its roots dating back to 1884, the employee-owned organization operates through a network of subsidiaries in the United States, Canada, and Mexico. Kiewit offers construction and engineering services in a variety of markets including transportation; oil, gas and chemical; power; building; water/wastewater; industrial; and mining. Kiewit had 2019 revenues of $10.3 billion and employs 23,000 staff and craft employees. For more information on Kiewit’s projects and carbon capture capabilities, click here or visit our website.
| Svante
Julia McKenna (Media) jmckenna@svanteinc.com +1 (778) 985 5722 |
Kiewit
Angela Nemeth (Media) +1 402-952-4627 |
U.S. Department of Energy’s National Energy Technology Laboratory Announces Investment to Further Develop LH CO2MENT Colorado Project, Carbon Capture Technology
PRESS RELEASE
Next phase of project feasibility study to commence, will develop facility design to support capture, use and storage of 2 million tonnes of carbon dioxide annually
Chicago/Houston/Vancouver/Paris, September 17, 2020 – On September 1, the United States Department of Energy’s National Energy Technology Laboratory (DOE-NETL) awarded $1.5 million in federal funding for cost-shared research and development to support the initial engineering analysis and advancement of the LH CO2MENT Colorado Project, which was the subject of a scoping study launched earlier this year. The commercial-scale carbon-capture project, based in Florence, Colorado, is a partnership of Svante Inc., LafargeHolcim, Oxy Low Carbon Ventures, LLC (OLCV), a wholly-owned subsidiary of Occidental, and Total.
With the successful completion of the initial scoping study in June 2020 and confirmation of DOE funding, the partnership has committed to the next project phase to evaluate the feasibility of the facility designed to capture up to 2 million tonnes of carbon dioxide per year directly from the Holcim cement plant and the natural gas-fired steam generator, which would be sequestered underground permanently by Occidental.
“Oxy Low Carbon Ventures is leveraging Occidental’s 40 years of experience in securely storing CO2 in geologic formations to advance permanent sequestration as a solution that supports global emissions reduction efforts through carbon retirement,” said Oxy Low Carbon Ventures President Richard Jackson. “This partnership is a powerful example of how cross-industry collaboration can help progress carbon capture, utilization and storage projects that will be critical to accelerating the transition to a lower-carbon world.”
The carbon-capture facility under review will employ Svante’s solid sorbent technology to capture carbon directly from the cement kiln as a non-intrusive “end-of-the-pipe’’ solution.
“We have been very vocal about the importance we place on finding and accelerating global solutions to reduce our carbon footprint,” said Jamie Gentoso, CEO, U.S. Cement for LafargeHolcim. “Effective and efficient large scale carbon capture technology will be a profound advancement for many industries. This U.S. DOE grant is a significant step in advancing this first-of-its-kind, large-scale technology, and we’re proud to partner with Svante, Oxy Low Carbon Ventures and Total to bring it to life.”
“This project along with the U.S. DOE funding is an important external validation that we are becoming a significant global technology provider in carbon capture space across a range of large-scale industrial applications like cement and blue hydrogen” said Claude Letourneau, president and CEO of Svante Inc.
“Total brings its experience in this new phase of feasibility to support the development of Svante’s promising CO2 capture technology. Together with our industrial partners and thanks to public-private initiative, we aim at accelerating the deployment, at scale, of innovative and cost-efficient technologies, contributing to decarbonize industry and curb CO2 emissions.“ said Marie-Noëlle Semeria, senior vice president, Group CTO at Total.
Electricore, Inc. will facilitate management of the federal grant, and Kiewit Engineering Group Inc. will lead the engineering development. This joint initiative follows the recently-launched Pilot Plant Project CO2MENT between Svante, LafargeHolcim and Total in Canada at the Lafarge Richmond cement plant, where progress has been made towards re-injecting captured CO2 into concrete.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major. www.total.com
Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
About Oxy Low Carbon Ventures
Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental an international energy company with operations in the United States, Middle East, Africa and Latin America. OLCV is advancing cutting-edge, low-carbon technologies and business solutions that economically and sustainably grow our business while reducing emissions. OLCV is also progressing the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally.
Cautionary Statement Regarding Forward-Looking Statements by Occidental
Any statements in this release relating to expectations, beliefs, plans or forecasts, including any statements relating to the success, capability or scalability of the project, that are not historical facts are forward-looking statements. These statements are typically identified by words such as “potential,” “will,” “would,” “should,” “may,” “plan,” “believe,” “expect,” “designed to,” or similar expressions that convey the prospective nature of events or outcomes. Actual results, including those related to project plans and timing and the impact and results of new technologies, including emission reductions, could vary from anticipated results. Factors that could cause actual results to differ include, but are not limited to: the scope and duration of the COVID-19 pandemic and actions taken by governmental authorities and other third parties in response to the pandemic; global commodity pricing fluctuations; supply and demand considerations for carbon capture and sequestration technologies; the competitiveness of alternative energy sources or product substitutes; higher-than-expected costs; the regulatory environment; availability of funding, personnel and materials; litigation; actions by third parties; failures in risk management; and changes in laws, regulations or tax rates. Material risks that may affect the results of Occidental and its subsidiaries appear in Part I, Item 1A “Risk Factors” of Occidental’s Annual Report on Form 10-K for the year ended December 31, 2019 and in Occidental’s other filings with the Securities and Exchange Commission.
About LafargeHolcim
LafargeHolcim is the global leader in building materials and solutions and active in four business segments: Cement, Aggregates, Ready-Mix Concrete and Solutions & Products. Its ambition is to lead the industry in reducing carbon emissions and shifting towards low-carbon construction. With the strongest R&D organization in the industry, the company seeks to constantly introduce and promote high-quality and sustainable building materials and solutions to its customers worldwide – whether individual homebuilders or developers of major infrastructure projects. In the United States, LafargeHolcim companies include close to 350 sites in 43 states and employ 7,000 people. Our customers rely on us to help them design and build better communities with innovative solutions that deliver structural integrity and eco-efficiency.
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; CEO of OGCI Climate Investments Pratima Rangarajan; and Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website. You can also connect with us on LinkedIn or Twitter @svantesolutions.
| Svante
Julia McKenna (Media) jmckenna@svanteinc.com +1 (778) 985 5722 |
LafargeHolcim
Jocelyn Gerst Jocelyn.Gerst@lafargeholcim.com +1 (773) 355 4701 |
| Oxy Low Carbon Ventures
Merritt Talbott (Media) +1 (713) 552 8676 |
Total
Media Relations: presse@total.com l +33 1 47 44 46 99 Investor Relations: ir@total.com l +44 (0)207 719 79 62 |
Svante and Chevron Technology Ventures launch study for carbon capture pilot unit
VANCOUVER, HOUSTON, February 6, 2020 – Svante Inc. (formerly Inventys Inc.) announced that Chevron Technology Ventures (CTV) commissioned a pre-front end engineering design (pre-FEED) study that will explore the potential for trialing Svante’s technology in Chevron’s operations. The study will evaluate the feasibility and design of a 10,000 tonne-per-year carbon capture unit in one of Chevron’s California facilities and is expected to be completed in the first half of 2020.
“We are thrilled to be working alongside one of our earliest investors towards a solution that will contribute to a low carbon future,” said Claude Letourneau, President and CEO of Svante Inc. “We have a demonstration plant in Saskatchewan capturing 10,000 tonnes per year from an industrial natural gas steam boiler. This project will take the learnings from our demonstration plant to design and build an improved second-of-a-kind facility using our state-of-the-art proprietary nano-filter technology.’’
Chevron has been an active supporter in developing carbon capture, utilization and storage technologies. One example of this is CTV’s investment in Svante. CTV first invested in Svante in 2014.
“At Chevron, we believe our industry is well-positioned to help commercialize carbon capture, utilization and storage technologies that will be essential for the energy transition,” said Barbara Burger, President of Chevron Technology Ventures. “We have leveraged venture capital and trial capabilities, our experience, and our operations to support the development of low carbon solutions.”
“Demonstrating this technology in the field is an important step in advancing a technology towards commercialization and scale,” Burger said. “Commissioning this study reflects our commitment to advance breakthrough innovation that will be important in a low carbon economy and help Chevron deliver on our mission to produce and provide affordable, reliable and ever-cleaner energy.”.
"Demonstrating this technology in the field is an important step in advancing a technology towards commercialization and scale."
CTV invested in Svante through Fund V, which supports early to mid-stage companies developing emerging technologies that have the potential to improve Chevron’s core business. In 2018, CTV established a separate fund, the Future Energy Fund, to invest solely in breakthrough technologies that enable the energy transition. Chevron also participates in the Oil and Gas Climate Initiative’s (OGCI) $1 billion + investment fund, Climate Investments LLP. Climate Investments, which also invested in Svante, supports the development of technologies that will lower the carbon footprints of the energy and industrial sectors and their value chains.
Svante, a global carbon capture technology leader, offers companies in industries with hard-to-abate emissions a commercially viable way to capture large-scale CO₂ emissions from existing infrastructure at half the capital cost of traditional solutions.
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 Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, mission and people, watch their corporate video, and visit Svante’s website, LinkedIn or Twitter (@svantesolutions).
About Chevron Technology Ventures
Formed in 1999, Chevron Technology Ventures (CTV), operating as a division of Chevron U.S.A. Inc., pursues new business solutions and externally-developed technologies that have the potential to enhance the way Chevron produces and delivers affordable, reliable and ever-cleaner energy. CTV fosters innovation, supporting vibrant startup ecosystems and championing technology integration internally. Through its investment portfolio and internal use pipeline that trials technologies for use within Chevron, CTV has supported a wide range of pioneering companies that are helping to shape the future of energy.
Global Carbon Capture Technology Leaders, Svante and Climeworks, Agree to Collaborate On Solutions for a Net-Zero-Emissions World
Global Carbon Capture Technology Leaders, Svante and Climeworks, Agree to Collaborate On Solutions for a Net Zero-Emissions-World
VANCOUVER, ZURICH, January 27, 2020 – Global carbon capture technology leaders, Svante Inc. (formerly Inventys Inc.) and Climeworks AG, today announced an agreement to collaborate on the development of carbon capture technology solutions to enable customers transition to a net-zero-emissions future. Both companies share the goal of preventing climate-relevant amounts of CO2 from going into our atmosphere or removing them from air.
Svante offers companies in industries with unavoidable emissions, such as concrete and steelmaking, a commercially viable way to capture large-scale CO2 emissions from existing infrastructure at half the capital cost of traditional solutions. Climeworks offers the worldwide first commercial Direct Air Capture (DAC) solutions to remove CO2 from the atmosphere. By capturing CO2 from air, DAC solutions can unlock a climate-positive future. By working together, the two companies can accelerate the development and adoption of both technologies for customers across industries and applications.
Today’s Joint Development Agreement (JDA) will enable Svante’s and Climeworks’ respective carbon capture technology solutions to be scaled-up faster and effect a transition to a net-zero-emissions future sooner. The combination of Climeworks’ revolutionary DAC solutions with Svante’s source capture technology will support further development of climate-positive carbon solutions for both carbon removal and industries with unavoidable emissions.
“We strive to deliver the world’s most robust and scalable DAC solutions,’’ said Christoph Gebald, the Climeworks co-founder. “By combining our cutting-edge DAC solution with Svante’s filter technology, we create a potentially game changing DAC solution.”
“Climeworks is an ideal partner for a large-scale rollout of market-ready technology to provide a zero-CO2 emission solution. Climeworks’ and Svante’s cost advantage, combined with progressive policies like the United States’ 45Q tax credit and the Low Carbon Fuel Standard (LCSF) credits, can make carbon capture and removal profitable across a range of large-scale industrial applications.’’ said Claude Letourneau, Svante’s President and CEO.
Further potential benefits include the use of waste heat from Svante’s industrial carbon capture system for Climeworks’ direct air capture process.
“As we aim to capture about 90% of CO2 from atmosphere-bound carbon and deliver pipeline-ready CO2 for storage at a gigatonne scale, Climeworks is able to turn our waste heat and their air captured CO2 into high value-added CO2 products,” Letourneau said.
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 Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital.
To learn more about Svante’s technology, mission and people, watch their corporate video, and visit Svante’s website, LinkedIn or Twitter (@svantesolutions).
About Climeworks
Climeworks captures CO2 from ambient air with the world’s first commercial carbon dioxide removal technology. The Climeworks direct air capture plants capture CO2 with a patented filter and are powered by either waste or renewable energy.
Climeworks air-captured CO2 is sold to customers in the Food, Beverage & Agriculture; and Renewable Fuels & Materials markets. Climeworks also offers Emissions Reversal, enabling customers to realize their climate goals by safely and permanently storing air-captured CO2 underground, and thereby ultimately stopping climate change from reaching dangerous levels.
Founded by engineers Christoph Gebald and Jan Wurzbacher, Climeworks has assembled the world’s largest team of experts in the field and has a goal of capturing one per cent of global emissions by 2025.
More information: www.climeworks.com
Svante
Julia McKenna (Investors)
jmckenna@svanteinc.com
+ 1 (778) 985 5722
Martin Cej (Media)
mcej@longviewcomms.ca
+ 1 (587) 319 2828
For media enquiries Climeworks:
media@climeworks.com
+41 44 533 29 25
Svante, LafargeHolcim, Oxy Low Carbon Ventures and Total launch study for commercial-scale carbon capture and end-use at U.S. plant
The study will evaluate the cost of the facility designed to capture up to 725,000 tonnes of carbon dioxide per year directly from the LafargeHolcim cement plant, which would be sequestered underground permanently by Occidental.
Vancouver/Zurich/Houston/Paris, January 6, 2020 – Svante Inc., LafargeHolcim, Oxy Low Carbon Ventures, LLC (OLCV), a wholly-owned subsidiary of Occidental, and Total today announced a joint study to assess the viability and design of a commercial-scale carbon-capture facility at the Holcim Portland Cement Plant in Florence, Colorado, U.S.
“OLCV is dedicated to advancing low-carbon solutions that will enhance Occidental’s business while reducing emissions,” OLCV President Richard Jackson said. “Participating in this study aligns with our goals of finding an economical pathway toward large-scale application of carbon-capture technologies to reduce emissions.”
The carbon-capture facility under review will employ Svante’s technology to capture carbon directly from industrial sources at half the capital cost of existing solutions. Occidental, the industry leader in carbon dioxide management and storage, would sequester the captured carbon dioxide. Pairing carbon capture from a cement plant with carbon dioxide sequestration is a significant step forward for the cement industry in reducing its carbon footprint.
“Being at the forefront of the low-carbon transition requires continuous innovation and partnerships, LafargeHolcim has significantly invested in the development of low-carbon solutions. Collaborating with Svante, OLCV and Total, we expect to realize a successful U.S. carbon-capture project in the near future.” LafargeHolcim CEO Jan Jenisch said.
“Svante’s capital cost advantage, combined with progressive tax credit policies such as the 45Q tax credit in the U.S., can make carbon capture profitable across a range of large-scale industrial applications like cement,” said Claude Letourneau, president and CEO of Svante Inc.
“Total has slated 10% of its annual R&D budget to make significant advances in Carbon Capture, Utilization and Storage (CCUS) technology, a key technology to curb worldwide carbon dioxide emissions. Our investment in this joint study is directly aligned with our strategy. The learnings from this study will help us pursue our commitment to the commercial development of CCUS,” said Marie-Noëlle Semeria, Senior Vice President, Group CTO at Total.
This joint initiative follows the recently-launched Project CO2MENT between Svante, LafargeHolcim and Total in Canada at the Lafarge Richmond cement plant, where progress has been made towards re-injecting captured carbon dioxide into concrete.
About Total
Total is a major energy player that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major. www.total.com
About Oxy Low Carbon Ventures
Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental, an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. OLCV is focused on advancing leading-edge, low-carbon technologies and business solutions that economically grow our business while reducing emissions. OLCV also invests in the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally.
Cautionary Statement Regarding Forward-Looking Statements
Any statements in this release relating to expectations, beliefs, plans or forecasts, including any statements relating to the success, capability or scalability of the project, that are not historical facts are forward-looking statements. These statements are typically identified by words such as “potential,” “will,” “would,” “should,” “may,” “plan,” “believe,” “expect,” “designed to,” or similar expressions that convey the prospective nature of events or outcomes. Actual results, including those related to project plans and timing and the impact and results of new technologies, including emission reductions, could vary from anticipated results. Factors that could cause actual results to differ include, but are not limited to: global commodity pricing fluctuations; supply and demand considerations for carbon capture and sequestration technologies; the competitiveness of alternative energy sources or product substitutes; higher-than-expected costs; the regulatory environment; availability of funding, personnel and materials; litigation; actions by third parties; failures in risk management; and changes in laws, regulations or tax rates. Material risks that may affect the results of Occidental and its subsidiaries appear in Part I, Item 1A “Risk Factors” of Occidental’s Annual Report on Form 10-K for the year ended December 31, 2018, and in Occidental’s other filings with the SEC.
About LafargeHolcim
LafargeHolcim is the global leader in building materials and solutions. We are active in four business segments: cement, aggregates, ready-mix concrete and solutions & products. With leading positions in all regions of the world and a balanced portfolio between developing and mature markets, LafargeHolcim offers a broad range of high-quality building materials and solutions. LafargeHolcim experts solve the challenges that customers face around the world, whether they are building individual homes or major infrastructure projects. Demand for LafargeHolcim materials and solutions is driven by global population growth, urbanization, improved living standards and sustainable construction. Around 75,000 people work for the company in around 80 countries.
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 Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website. You can also connect with us on LinkedIn or Twitter @svantesolutions.
| Svante
Julia McKenna (Investors) jmckenna@svanteinc.com +1 (778) 985 5722 Martin Cej (Media) +1 (587) 319 2828 |
LafargeHolcim
LafargeHolcim Group Media Relations
Jocelyn Gerst Jocelyn.Gerst@lafargeholcim.com +1 (773) 355 4701 |
| Oxy Low Carbon Ventures
Jeff Alvarez (Investors) +1 (713) 215 7864 Helen Rhymes (Media) +1 (713) 840-3019 |
Total
Media Relations: presse@total.com l +33 1 47 44 46 99 Investor Relations: ir@total.com l +44 (0)207 719 79 62 |
Svante Appoints Steven Berkenfeld to Board of Directors
VANCOUVER, BC, Dec. 12, 2019 – Svante Inc., whose technology captures carbon directly from industrial sources at half the capital cost of existing solutions, today announced that Steven Berkenfeld has been appointed to its Board of Directors, effective December 12, 2019.
Berkenfeld was a Managing Director in investment banking at Barclays Capital, where he served as senior sponsor of the Social Impact Banking Initiative, co-heading the firm’s Cleantech Initiative, and leading the banking effort for Emerging Industrial Technology companies. He also managed the Transaction Review Committee process and chairs the Reputational Risk Committee for Barclays International, and served as chair of Barclays Capital’s Equities Commitment Committee and Fairness Opinion Committee.
One of Berkenfeld’s passions has been his social impact work – understanding the growth opportunities in green and renewable energy. He has advised countless entrepreneurs on how to scale up their businesses.
‘’With the broad and extensive experience in all aspects of investment banking and private equity, particularly in impact investing and sustainability, Steven will further strengthen our ability to unlock the capital needed to support the scaling of our business,’’ said Wayne G. Thomson, Chairman of Svante Inc.
Berkenfeld is former chair and a member of the board of directors of the Sierra Club Foundation; co-chair of the board of Green City Force; a member of the board of Bend the Arc. In addition, he is the sponsor of the Employment Sustainability Initiative on Employment and Technology at the ILR School of Cornell University; sponsor of the Carbon Removal / New Carbon Economy initiative of the Atkinson Center for a Sustainable Future at Cornell University; and he is actively engaged in various projects relating to the “future of work.”
“Global markets and the broad financial sector have a powerful role to play in driving the transition to a net-zero carbon economy and supporting clean growth opportunities,’’ Berkenfeld, said ‘’Carbon capture and storage is an important and proven technology that is needed to support our efforts to slash emissions from hard-to-abate sectors such as cement, chemicals and hydrogen.’’
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 tonne per day plant in Richmond, BC that will re-inject captured CO2 into concrete, while the construction of a 30 tonne per day demonstration plant capturing CO2 from an industrial gas boiler was completed in Q4 2019 at Husky Energy’s Pikes Peak South thermal project in Saskatchewan, Canada.
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. To learn more about Svante’s technology, mission and people, click here. You can also connect with us on LinkedIn or Twitter @svantesolutions.
For investor inquiries:
Julia McKenna
jmckenna@svanteinc.com
1(778) 985 5722
For media inquiries:
Martin Cej
mcej@longviewcomms.ca
1(587) 319 2828
Lafarge Canada Gets Closer to Canada’s Most Carbon Efficient Cement Plant
VANCOUVER, British Columbia, December 2019 Following the implementation of Project CO2MENT, Lafarge Canada has moved to the second stage of carbon capture at the Richmond Cement Plant. LafargeHolcim Head of North America, Rene Thibault, visited the facility as Phase II of the project begins. Flue gas from the plants manufacturing facility is now captured through Svantes equipment reducing the amount of gases released into the atmosphere.
This remarkable change is part of Lafarges drive to make Richmond the most carbon efficient cement plant in Canada. Along with carbon capture, the plant uses a $28-million system to use non-recyclable waste as fuel, directing it away from BC landfills.
Project CO?MENT provides an opportunity to evaluate the potential for a new business model for supplying industrial post-combustion CO? to the existing CO? market as well as assessing the economic feasibility of newly developed CO? utilization technologies. Svante offers the cement industry a commercially viable way to capture large-scale CO? emissions from existing infrastructure at half the capital cost of traditional solutions, said Claude Letourneau, President and CEO of Svante. We are poised to help our customers transition to a net-neutral carbon future by making industrial-scale carbon capture a reality today.
The system purifies the cement flue gas by trapping its contaminants to enable an efficient and durable CO? capture process. Now that Phase II is underway, Phase III a demonstration of CO? utilization solutions such as reinjecting it into low-carbon fuels, CO? concrete, and fly ash will begin in 2020.
About Lafarge Canada
Lafarge is Canadas largest provider of diversified and sustainable 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 communitys infrastructure benefit from the solutions provided by Lafarge consisting of aggregates, asphalt and paving, cement, precast concrete, ready-mix concrete and road construction.
Through LafargeHolcims 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.
About Svante
Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO? emissions from existing infrastructure, either for safe storage or to be recycled for further industrial use in a closed loop. Svantes technology is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors. The CO?MENT Project a partnership between LafargeHolcim and TOTAL S.A. is building a 1 TPD plant in Richmond, BC that will re-inject captured CO? into concrete as a storage solution, while the construction of a 30 TPD demonstration plant was completed this summer at Husky Energys Pikes Peak South thermal project in Saskatchewan, Canada. To learn more, visit http://svante1.wpenginepowered.com
About CO? Capture Project
Since CCPs 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 CO? 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 CCPs fourth phase are BP, Chevron and Petrobras.
Contacts
Jill Truscott, Manager, Communications WCAN
Lafarge Canada Inc.
jill.truscott@lafargeholcim.com
1-403-723-7151
For further information on CCP and its projects, register at www.co2captureproject.org.
Svante and Cross River Infrastructure Partners Form Partnership to Develop Industrial-Scale Carbon Capture Projects
VANCOUVER, BC, Nov. 28, 2019 – Svante Inc. has signed a collaboration agreement with Cross River Infrastructure Partners LLC to develop commercial projects in North America that employ Svante’s technology, which is capable of capturing carbon directly from industrial sources at half the capital cost of existing solutions.
Connecticut-based Cross River is a leading developer of sustainable infrastructure, developing and financing next-generation waste-to-energy and carbon-to-value projects in North America.
Cross River will be responsible for project origination and financing for carbon capture and storage projects using Svante’s proprietary technology, as well as operating facilities that deliver captured CO2 to end-users.
“We provide capital and commercialization solutions to technology providers such as Svante to develop pipelines of small to mid-size projects with similar risk profiles’’ said Andrew Wilder, CEO of Cross River. “Our goal is to help unlock significant investment capital to accelerate the deployment of low-carbon technologies, such as Svante’s.’’
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 tonne per day plant in Richmond, British Columbia that will re-inject captured CO2 into concrete, while the construction of a 30 tonne per day demonstration plant was completed this summer at an industrial facility in Lloydminster, Saskatchewan, Canada.
“With the development of new sustainable investment strategies, in combination with government policies such as the United States’ 45Q tax credit to incentivise industry and traditional project financing, the financial sector is poised to support industrial scale carbon capture that will have a meaningful impact on the climate change,” said Claude Letourneau, President and CEO of Svante. “An integrated project delivery model is fundamental to ensuring carbon capture and storage projects can be financed and delivered with both cost and scheduling certainty.”
The partnership will focus on the Permian Basin in the U.S. and in Canada’s western provinces, both of which have large CO2 storage potential, a wide range of commercial CO2 users, and a significant number of industrial sources of CO2, such as cement, chemicals and hydrogen production. The existing CO2 pipeline infrastructure in the U.S. transports mined CO2, with no climate benefit, thus creating an opportunity to transition to sourcing CO2 from man-made industrial emissions.
Svante’s cost advantage, combined with progressive tax credit policies, can make carbon capture profitable across a range of large-scale industrial applications to significantly cut emissions from hard-to-abate sectors.
When used in combination with direct air capture, Svante’s source capture technology can result in net zero carbon emissions from currently emissions-intensive industries, while a single Svante plant can capture a million tons of carbon a year – equal to eliminating the emissions generated by more than 200,000 cars.
“We are very pleased to collaborate with Cross River to unite all the stakeholders – industrial CO2 emitters, industrial CO2 users, technology providers, investors, and operations teams – in common cause,” Letourneau said. “This partnership is critical to bringing the cost of carbon capture within reach, creating jobs, generating wealth and incentivizing industry to join the fight against climate change.”
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. To learn more about Svante’s technology, mission and people, click here. You can also connect with us on LinkedIn or Twitter @svantesolutions.
Contacts
For investor inquiries:
Julia McKenna
jmckenna@svanteinc.com
1 (778) 985 5722
For media inquiries:
Martin Cej
mcej@longviewcomms.ca
1 (587) 319 2828
Inventys – a Leading Developer of Commercially Viable, Economically Scalable Carbon Capture Technology – Changes Name to Svante Inc.
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
Pond Technologies and Svante execute MOU to jointly develop low cost carbon capture and carbon recycling projects
CALGARY, May 10, 2019 /CNW/ – Pond Technologies Holdings Inc. (“Pond”), (TSX.V: POND) is pleased to announce that on May 1, 2019 it entered into an arms length Memorandum of Understanding (“MOU”) with Inventys Thermal Technologies Inc. (“Svante”) to pursue the development of joint low cost carbon capture projects.
