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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