Published on: June 26, 2019
MOLLY BURGEES, GASWORLD
Svante receives $26m for carbon capture technology
Svante Inc. (formerly Inventys Thermal Technologies), a Canadian carbon capture technology company, has completed its $26m Series C financing through a final subscription of $10m.
The company formally closed on the $10m investment from OGCI Climate Investments and BDC Cleantech Practice as well as an additional follow-on investment from existing shareholders Husky Energy, The Roda Group and Chevron Technology Ventures, bringing the total received under the Series C Financing to $26m.
The funds will be used to complete the company’s 30-tonne-per-day CO2 capture plant demonstration project with Husky Energy in Saskatchewan, Canada, currently in the commissioning stage and due to begin operations in Q3 (2019).