Industrial Projects Veteran Appointed as New President & CEO
Claude Letourneau brings more than 30 years’ experience in advanced technology development and commercialization to carbon capture company’s executive team.
VANCOUVER, British Columbia — March 23, 2017 — Svante (formerly Inventys) the developer of the VeloxoTherm™ System, a next-generation carbon dioxide (CO2) capture process, today announced the appointment of Claude Letourneau as the company’s President and Chief Executive Officer. A veteran technology executive with a successful track record of managing large world-class projects, Letourneau will help lead Svante through commercialization of its transformational carbon capture system.
“We are very pleased to have attracted Claude Letourneau to lead Svante,” said Svante Chairman Wayne G. Thomson. “Claude has a rare range of experience; he combines success in advanced technology development with extensive experience leading major capital-intensive industrial projects. This is experience we need at Svante as we roll out our large field demonstration and commercial facilities.”
Before joining Svante, Letourneau served in senior-level management roles in mining, metallurgy and construction as well as with innovation-driven enterprises. He provides the experience needed to guide Svante to new levels of growth and opportunity.
“Svante’s strategic shift to open collaboration has delivered a technology breakthrough that is transforming the carbon capture industry,” said Co-Founder and CTO Soheil Khiavi. “Over the past six months, we have successfully used new adsorbent materials in our structured adsorbent platform and demonstrated a three-fold increase in capacity and lower regeneration energy.
“Our techno-economic assessments indicate we should meet the transformational carbon capture cost targets and with the latest breakthrough in our structures technology we could surpass industry expectations in the future,” Khiavi added. “I’m thrilled to welcome a high-caliber executive to help us along this next phase and accelerate the company’s time to market.”
The company’s thermal swing adsorbent technology captures high purity CO2 from diluted flue gas from coal and gas-fired power plants and industrial processes using novel proprietary solid structured adsorbent materials.
“Climate change is one of the greatest challenges the world faces today. I’m very excited to join this strong technical team and experienced Board with a clear vision and drive to commercialize a breakthrough solution to carbon capture,” said Letourneau. “Svante is a unique company—its intellectual property rights and internal adsorbent manufacturing combined with collaborative partnerships for its compact adsorption machine (CAM) support an aggressive time-to-market strategy needed to keep global warming under 2°C.”
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:
1(778) 985 5722
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1(587) 319 2828
For printing or downloading a pdf copy of the release: 2017-03-23_New-CEO.pdf