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Svante Closes $10 Million Financing from Husky for Heavy Oil CO₂ Capture Technology

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Burnaby, B.C.-based Svante (formerly Inventys Thermal Technologies) is moving forward with a 30-tonne per day pilot plant to capture CO2 at a Husky Energy steam generator for enhanced oil recovery after closing a $10 million equity financing led by the oil producer.

Svante’s next-gen CO2 capture technology will be deployed at Husky’s Pikes Peak South Lloyd thermal project near Lloydminster, Saskatchewan. The low-cost CO2-supply it provides will be used to enhance recovery of heavy oil from adjacent assets.

“This is the world’s first pilot-scale plant using structured adsorbents to capture CO2 from a once-through steam generator for use in heavy oil recovery,” Claude Letourneau, Svante’s president and chief executive officer, said in a statement.

“Canada offers the perfect setting to prove our second generation carbon capture technology, reduce carbon emissions, uphold Canada’s climate goals, create jobs and support industrial growth.”

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“It is empowering to know, given my Alberta heritage, our technology can change the climate impacts of the Alberta oil sands regions and generate significant additional economic benefits.”

Brett Henkel

Co-Founder and Vice President Strategic Accounts & Government Affairs

Brett Henkel’s unabashed optimism tempered by his mechanical engineering background and gas separation experience combine to bring a rare perspective to his position on Svante’s executive team.

Transferring the company’s breakthrough CO2 capture technology to customers’ sites will rely heavily on Brett’s strengths for identifying and understanding the technical and business details and relating those details to partners’ teams, approving agencies, and stakeholders.

As co-founder, he was instrumental in creating the process and the hardware used to prove the technology’s effectiveness as well as mobilizing external support throughout the path to becoming a successful innovation. These experiences strengthened his knowledge of business development and program management priorities.

Prior to launching Svante, Mr. Henkel was the program manager for QuestAir Technologies’ compact hydrogen production system with its partner, ExxonMobil. He is credited with designing the world’s first solenoid-driven rapid pressure swing adsorption test station.

Brett received his Bachelor of Science in Physics, with distinction, and a Mechanical Engineering degree from the University of Victoria.

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