Since its founding in a garage in 2007, Svante has grown to employ nearly 200 professionals. The company has attracted customers and partners from leading organizations around the world and has been listed in the widely regarded 2021 Global Cleantech 100 List and the Corporate Knights’ 2022 Future 50 Fastest-Growing Sustainable Companies in Canada.
Svante’s unique carbon capture technology is based on nano-material solid adsorbents coated onto a nano-engineered filters. These filters can be used to capture CO2 from the source of industrial emissions as well as from the atmosphere, known as “direct air capture” or “DAC”. The company’s second-generation carbon capture technology is modular, scalable, and chemical emission-free.
Svante’s use of solid sorbents for capturing CO2 has been published in the journal, Science, in a research article titled “A Scalable Metal Organic Framework as a Durable Physi-sorbent for Carbon Dioxide Capture”. The scale-up of this new material from laboratory to commercial settings has proven Svante’s technology economically viable and aligned with green chemistry principles. It’s able to meet the specific needs of a variety of industrial sites including those for cement, pulp & paper, steel, lime, hydrogen, and more.
In June of this year, Svante held a ground-breaking event at its new world headquarters and manufacturing facility, the Centre of Excellence for Carbon Capture & Removal, in Burnaby, BC. The event was marked by several speeches from members of the provincial and federal Canadian government, including The Honourable Rahvi Kahlon, BC’s Minister of Jobs, Economic Recovery and Innovation, who said, “Svante is a trailblazer in the fight against climate change and the transition to a carbon neutral economy.”
The Centre of Excellence for Carbon Capture and Removal will be Canada’s first-of-a-kind commercial-scale carbon capture and removal filter 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.
Svante is now in the midst of its Series E fundraising round. The company is expected to raise enough capital to enable it to bring its technology and manufacturing capacity to gigatonne scale.
Brett Henkel, Svante’s Co-Founder and VP of Strategic Accounts & Government Affairs, started the company in his garage in 2007. He commented, “I’m thrilled at how far we’ve come in this last 15 years. It’s amazing to see our new headquarters being built and all our employees working together to tackle greenhouse gas emissions. It’s a dream come true. We’re going to make a big impact on the world.”
Claude Letourneau, Svante’s President & CEO said, “We’ve 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 the Series E round, we’ll be able to manufacture enough filters to meet demand.”
To learn more about Svante, visit www.svanteinc.com
###
About Svante
Since its founding, Svante has grown from 1 to nearly 200 employees, and has received extensive media attention and government funding due to its innovative, scalable, eco-friendly approach to point source carbon capture (capturing carbon dioxide from the source of emission before it reaches the atmosphere) and direct air capture (or DAC, in which carbon dioxide is captured directly from the atmosphere). In 2022, Svante was ranked second in the Corporate Knights’ Future 50 Fastest Growing Sustainable Companies in Canada among private companies. It was also listed in the 2022 Global Cleantech 100 list of companies committed to climate commitments.
Contact
Colleen Nitta
Svante
Director, Marketing & Communications
cnitta@svanteinc.com
604-970-2813
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).
# # #
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
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.
###
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
• 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.
• 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
Vancouver, BC, December 13, 2021 (BUSINESS WIRE) – Svante and Kiewit Energy Group Inc. have entered into a Memorandum of Understanding (MoU) to establish a strategic alliance to pursue industrial carbon capture projects under development by industrial carbon emitter clients in the U.S. and Canada including cement, SMR hydrogen, refineries, chemicals, steel, ammonia and pulp & paper facilities. The KSI Alliance will work as a highly collaborative, integrated team to offer clients a “one-stop-shop” common business development and construction approach from pre-construction services phase to engineering, procurement and construction (EPC) project delivery.
The carbon capture projects will employ Svante’s solid sorbent technology to capture carbon dioxides directly from industrial post-combustion diluted flue gases as a non-intrusive “end-of-the-pipe’’ solution to produce pipeline-grade pure CO2 for safe storage.
“We are very proud to become the engineering and construction partner of Svante for the deployment of this novel technology, which allows us to leverage our expertise in building carbon capture plants”, said David Claggett, senior vice president, Kiewit Energy Group Inc. “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.”
“Kiewit is a market leader in North America for CCS deployment, having more than 5,500 tons/day of installed capacity to date with further 60,000 tons/day of FEED studies currently underway. Kiewit and Svante are ready and capable of taking the next phase of plant capacity scale-up on the path to decarbonization of hard-to-abate industries such as cement and blue hydrogen” said Claude Letourneau, President and CEO of Svante.
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 facilities 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 of putting about two world-class plants into operation each week over the next 20 years.
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 2020 revenues of $12.5 billion and employs 27,000 staff and craft employees. For more information on Kiewit’s projects and carbon capture capabilities, click here or visit our website.
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 partnered with Kiewit 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) 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.
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).
Contacts
Svante
Julia McKenna (Media)
jmckenna@svanteinc.com
+1 (778) 985 5722
Kiewit
Angela Nemeth (Media)
Angela.Nemeth@kiewit.com
+1 402-952-4627
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 Fumey Jason Hyonne |
Contacts Svante
Media relations
Julia McKenna
jmckenna@svanteinc.com
+1 (778) 985 5722
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
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.
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.
VANCOUVER, BC/CALGARY, AB – March 18, 2021 (GLOBE NEWSWIRE) – Suncor and Svante Inc. today announced an equity financing agreement which provides Svante with the additional growth capital to accelerate the commercialization of Svante’s novel second generation CO2 capture technology in North America for the decarbonization of industrial emissions and hydrogen production.
Combined, Suncor and a number of family office investors have invested $25 million USD of equity financing, bringing the total proceeds raised under Svante’s Series D financing to $100 million USD, up from $75 million as announced on February 2nd, 2021, and completing the largest single private investment into point source carbon capture technology globally to date.
This final closing of the Series D financing includes Canadian energy company, Suncor Energy, and Carbon Direct SPV I LLC. Existing investors Temasek, Chart Industries, Carbon Direct, OGCI Climate Investments, BDC Cleantech Practice, Chevron Technology Ventures, The Roda Group, Chrysalix Venture Capital and Export Development Canada (EDC) also participated in the Series D round, reflecting strong on-going support for the Company, including its market strategy and recent progress.
Svante has now attracted more than $175 million USD in total 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.
“Svante has generated a pipeline of potential new project opportunities capturing over 40 million tonnes of CO2 per year before 2030 from natural gas industrial boilers, cement and lime, and blue hydrogen industrial facilities, mainly in North America and spurred by both US and Canada federal CO2 tax credits and prices on CO2 emissions. The net-zero pledges of major countries and large corporations is also a key driver for the interest and rapid growth of the carbon capture and storage new industry.’’ said Claude Letourneau, President & CEO of Svante Inc. ‘’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 and building a commercially viable CO2 marketplace.’’
According to Mark Little, President & CEO of Suncor, “Carbon Capture is a strategic technology area for Suncor to reduce GHG emissions in our base business and produce blue hydrogen as an energy product. An investment in Svante is expected to support the acceleration of commercial scale deployment of a technology that has the potential to dramatically reduce the cost associated with carbon capture. We are excited to become both an investor in and a collaborative partner with the company.”
‘’We are pleased to partner with a leading Canadian player in the energy industry, along-side existing investor Cenovus, and to benefit not only from their financial support but also their commitment to deliver low-carbon fuels and blue hydrogen to transform the energy system.’’ said Claude Letourneau.
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 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
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.
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
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
(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
PRESS RELEASE
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
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 |
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 |
PRESS RELEASE
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.”
Barbara Burger, President of Chevron Technology Ventures
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
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
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 |
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
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
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
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.
Svante Inc. (formerly Inventys Thermal Technologies), an advanced carbon capture technology company, has completed its US$26M Series C financing this month through a final subscription of US$10M by existing shareholders including OGCI Climate Investments and Business Development Bank of Canada’s (BDC) Cleantech Practice alongside Husky Energy, The Roda Group and Chevron Technology Ventures.
VANCOUVER, BC, Canada — Tuesday, June 25, 2019 — Svante Inc. (formerly Inventys Thermal Technologies) today announced that it has formally closed on an investment of US$10M 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. This brings total proceeds received under the Series C Financing to US$26M.
The funds will be used to complete the Company’s 30-tonne-per-day (TPD) CO₂ capture plant demonstration project with Husky Energy in Saskatchewan, Canada, currently in the commissioning stage and due to begin operations in Q3-2019. The funds will also allow the Company to focus on scale-up activities for the manufacturing of its filter beds and proprietary rotating adsorption machine at a larger commercial scale.
“Svante’s’ breakthrough low-cost carbon capture technology using solid sorbent structured laminates will enable the market for certified zero-carbon hydrogen, steam and power from natural gas,” says Svante President and CEO Claude Letourneau. “We can produce low-cost pipeline-ready CO2 for storage/enhanced oil recovery (EOR) from atmosphere-bound CO2 from industrial and power plant sources, thus limiting the climate impact of the use of fossil fuels. We see this as part of the least-cost global energy transition – decarbonizing industrial processes and power plants to provide dispatchable backup to renewables and energy security. Despite the fantastic build-out of renewables, about 80% of global energy is still supplied by fossil fuels, about the same as half a century ago. Removing the CO2 emissions from this energy source is critical.”
“Carbon Capture and Storage (CCS) will play an essential role in meeting the goals of the Paris Agreement. OGCI CI is proud to support Svante (formerly Inventys Thermal Technologies) to bring to market a key building block for unlocking the growth and scaling of CO2 capture.” said Pratima Rangarajan, CEO of OGCI Climate Investments.
The additional follow-on investment of BDC in this financing round is part of BDC’s $700 million, five-year commitment announced in 2018 to help high-potential Canadian cleantech firms with market-ready technology or products meet the capital-intensive needs of scaling and achieving timely growth.
“Svante is a shining example of the businesses we want to support within the clean technology ecosystem. By backing the best in Canadian clean technology, we are helping our most promising companies overcome financing obstacles and scale into global cleantech champions”, added Susan Rohac, Vice President, Cleantech Practice at BDC.
Svante views this partnership with BDC’s Cleantech Practice as critical to reaching its goal of commercializing a first-of-its-kind, industrial-scale CO2 capture plant by the end of 2020, and the 30 TPD demonstration at Husky is a major milestone in implementing a very aggressive time-to-market strategy.
About Svante
Svante Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enabling the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Inventys is working to create new market spaces by leveraging its breakthrough carbon capture technology.
For more information, please visit https://svanteinc.com/
Contact: Julia McKenna, Inventys: E: jmckenna@svanteinc.comT: +1 (778) 985 5722
About OGCI Climate Investments
OGCI Climate Investments LLP is a $1+ billion fund investing in technologies and business models which lower the carbon footprint of the energy and industrial sectors and their value chains. The Fund was created by the CEOs of the Oil and Gas Climate Initiative to take practical action on climate change. We invest in innovative companies that are ready to be commercialized. We collaborate with global co-investors and industrials to achieve speed and scale.
For more information, please visit www.oilandgasclimateinitiative.com.
Contact: Media Enquiries: E: OGCI@hkstrategies.com T: +44 (0) 207 413 3448
About BDC
BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 123 business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first financial institution in Canada to receive B Corp certification.
To find out more, visit www.bdc.ca.
Contact: Flavie Côté, Media Relations: E: mediainfo@bdc.ca T: +1 (844) 625 8321
About Chevron Technology Ventures
Since 1999, Chevron Technology Ventures has been committed to pushing energy’s frontiers. CTV pursues new business models and externally developed technologies that enhance the way Chevron produces and delivers affordable, reliable, cleaner energy. Fostering innovation both within Chevron and across the energy landscape, CTV champions the integration of solutions that address current business needs and those of tomorrow. Through technology deployments and venture capital portfolio, CTV supports a wide range of pioneers that are shaping the future of energy.
To find out more, visit www.chevron.com/technology/technology-ventures.
Contact: Jan Sieving, E: media@chevron.com T: +1(925) 842 0455
Project CO₂MENT secures funding from Total, Lafarge, CCP (CO₂ Capture Project), Province of B.C., and Government of Canada
VANCOUVER, BC, Canada — Tuesday, May 28, 2019 — Svante (formerly Inventys Thermal Technologies) today announced a project partnership to develop and demonstrate the first full-cycle solution to capture and reuse CO₂ from a cement plant while also reducing greenhouse gas emissions. Project CO₂MENT will demonstrate and evaluate Svante’s CO₂ Capture System and a selection of CO₂ utilization technologies at Lafarge’s Richmond, BC, cement plant over the next four years.
This project is led by Svante in partnership with Lafarge Canada Inc., a member of the global building materials group, LafargeHolcim, and Total, a major energy company. It also received financial support from CCP (CO₂ Capture Project), the Province of B.C., and Canada’s federal government through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
“At Svante, we see a real opportunity to build a CO₂ marketplace where tonnes of CO₂ are traded between emitters and users,” said Svante President & CEO Claude Letourneau. “This project provides an opportunity for global industry leaders to work together using everyone’s expertise to create new business models while fighting climate change.”
Project CO₂MENT received $150,000 through the B.C. government’s Innovative Clean Energy (ICE) Fund, which provides funding to projects that align with B.C.’s climate goals, while also supporting a thriving clean-energy sector.
“Project CO₂MENT is a great example of how made-in-B.C. innovations and technology are putting us on the path to a cleaner, better future,” said Michelle Mungall, Minister of Energy, Mines and Petroleum Resources. “Like other projects supported by the Innovative Clean Energy Fund, it will help achieve our government’s CleanBC plan to reduce climate pollution, boost the economy, and create good jobs.”
Lafarge’s Richmond cement plant has been building in Canada for over 60 years. In a drive towards its 2030 Sustainability goals, Lafarge recently expanded its low carbon fuel program with the addition of a $28-million system to use non-recyclable waste as fuel. This new fuel system will make Richmond the most carbon efficient cement plant in Canada. More than a million tonnes of cement are produced per year in Richmond, making it a large emitter of CO₂ in British Columbia.
“Like other projects supported by the Innovative Clean Energy Fund, it will help achieve our government’s CleanBC plan to reduce climate pollution, boost the economy, and create good jobs.”
Michelle Mungall, Minister of Energy, Mines and Petroleum Resources.
“It takes intensive energy to heat limestone to the level necessary for its transformation into cement and the chemical reaction itself produces CO₂ so we are very interested in researching ways to capture these emissions and reuse them in our concrete products.” Lafarge Western Canada CEO, Brad Kohl said.
“Total is delighted to invest and support the CO₂MENT project that demonstrates the effectiveness and robustness of technologies to capture CO₂ from real industrial flue gas. This is an important step forward to make CCUS an economic solution”, says Samuel Lethier, Total CO₂ Capture R&D Project Manager. “Total is committed to invest 10% of its annual R&D investment into Carbon Capture, Utilisation and Storage that will play an essential role in achieving carbon neutrality in the second half of the century.”
CCP Board Chair, Jonathan Forsyth comments: “This is an exciting project for CCP to be joining. CCP as an International capture and storage technology innovation programme have always put a focus on new technology development that will advance CCS. Our participation in Phase II of CO₂MENT aligns with that and, if successful, the project could create another potential solution that reduces the cost of capturing CO₂ from industry applications.”
The project provides an opportunity to evaluate the potential for a new business model for supplying post-combustion CO₂ to the existing CO₂ market as well as assessing the economic feasibility of newly developed CO₂ utilization technologies. “Using the CO₂ as a raw material, especially when coupled with BC’s renewable energy, could potentially generate profits to subsidize the costs of CO₂ capture and enable a use in a region where storage can’t exist,” said Svante Co-Founder and VP of Strategic Accounts, Brett Henkel. “Our objective is to see if a commercial scale project can provide a business case for up to 3,000 tons of CO2 per day, preventing those emissions from going to the atmosphere.”
The objectives of Project CO₂MENT are as follows:
- PHASE I ― The Contaminant Program : Reduce harmful organic and inorganic substances, such as sulphur dioxide, dust and soot, as well as nitrogen oxides, from cement flue gas;
- PHASE II ― The CO₂ Capture Program: Separate the CO₂ from flue gas using a customized-for-cement version of Svante’s carbon capture technology at pilot scale;
- PHASE III ― The CO₂ Reuse Program: Prepare post-combustion CO₂ for reuse and support the economical assessment and demonstration of CO₂ conversion technologies onsite, such as CO₂-injected concrete and fly ash.
Funding for the first two phases is complete and development of Phase I is underway. Phase I will begin operation in 2019; followed by Phase II & III in 2020.
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 5722For media inquiries:
Martin Cej
mcej@longviewcomms.ca
1(587) 319 2828
About Lafarge Canada
Lafarge is Canada’s largest provider of diversified 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 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.Through LafargeHolcim’s 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.
For more information, please contact:
Jennifer Lewis
Media Relations, Lafarge
jennifer.lewis@lafargeholcim.com
1-403-723-7151About 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.
For more information, please 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
About CO₂ Capture Project
Since CCP’s 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 CO2 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 CCP’s fourth phase are BP, Chevron and Petrobras.
For further information on CCP and its projects, register at www.co2captureproject.org.
For more information, please contact:
Mona Ishaq, Pulse Brands:
mona.ishaq@pulsebrands.com
+44 (0) 207 024 8971 / +44 (0)7593 592 722Simon Taylor, Pulse Brands:
simon.taylor@pulsebrands.com
+44 (0) 207 024 8972 / +44 (0)7823 330 975
The advanced CO₂ capture technology company has now secured total proceeds to date of US$16M received under the planned US$21M Series C Financing Round, which was led by OGCI Climate Investments, alongside existing investors The Roda Group and Chevron Technology Ventures
Vancouver, February 6, 2019 — Svante Inc. (formerly Inventys Thermal Technologies) today announced that it has formally closed on an investment of US$5M from BDC’s Cleantech Practice, initially received on December 28, 2018, as well as an additional follow-on investment from existing shareholder Chevron Technology Ventures. This brings total proceeds received under the Series C Financing, which was led by OGCI Climate Investments, to US$16M out of a total round of US$21M. Svante is targeting a close of the final US$5M under the Series C round prior to June 30, 2019, in order to fully fund its corporate program through 2020.
The funds will be used to complete the Company’s 30-tonne-per-day (TPD) CO₂ capture demonstration plant project with Husky Energy, currently in the final construction stages and due to begin operations in Q2-2019.
“Svante is showing they have the expertise, the vision, and the technological approach to develop the CO₂ marketplace and to help tackle climate change,” says Susan Rohac, Vice President, BDC Cleantech Practice. “Svante is in an excellent position to scale up its technology platform and play a leading role in strengthening the carbon value chain.”
The partnership between Svante and BDC’s Cleantech Practice will allow Svante to reach its goal of commercializing a first-of-its-kind, industrial-scale CO₂ capture plant by the end of 2020. The investment is part of BDC’s $700-million, five-year commitment announced in 2018 to help high-potential Canadian cleantech firms with market-ready technology or products meet the capital-intensive needs of scaling and achieving timely growth.
“At Svante, we see a real opportunity to put CO2 to work and to build a CO₂ marketplace where gigatonnes of CO₂ are traded between emitters and users,” said Svante President and CEO Claude Letourneau. “Svante’s solution is focusing on distributed CO₂ supply using modular plant designs.”
A key building block for unlocking the growth of the CO₂ marketplace is shifting the carbon capture cost curve down by at least a factor of two from conventional technology (chemical solvents). Svante found a way to do this with advanced solid adsorbent nanomaterials, combined with a novel modular compact contactor, to capture CO₂ from very dilute post-combustion flue gases (from industrial processes and gas-fired power plants).
About Svante
Svante Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enable the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Svante is working to create new market spaces by leveraging its breakthrough carbon capture technology. For more information, please visit https://svanteinc.com/.
About BDC
BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 123 business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first financial institution in Canada to receive B Corp certification. To find out more, visit bdc.ca.
About Chevron Technology Ventures
Since 1999, Chevron Technology Ventures has been committed to pushing energy’s frontiers. We pursue new business models and externally developed technologies that enhance the way Chevron produces and delivers affordable, reliable, cleaner energy. Fostering innovation both within Chevron and across the energy landscape, we champion the integration of solutions that address current business needs and those of tomorrow. Through our technology deployments and venture capital portfolio, we support a wide range of pioneers that are shaping the future of energy.
Contacts:
Julia McKenna Investor Relations jmckenna@svanteinc.com 1(778) 985 5722
Joanne Lajeunesse Public Affairs, BDC mediainfo@bdc.ca 1.844.625.8321
Out of more than 13,000 innovators from over 90 countries, Svante (formerly Inventys) secures a place in the 2019 Global Cleantech 100
VANCOUVER, BC, Canada — Tuesday, January 29, 2019 — Svante (formerly Inventys Thermal Technologies), a leading carbontech company developing a CO₂ marketplace, was named by Cleantech Group in the prestigious 2019 Global Cleantech 100.
The Global Cleantech 100 is an annual guide to the leading companies and themes in sustainable innovation. It features the private, independent, for-profit companies best positioned to solve tomorrow’s clean technology challenges. This year marks the 10th edition of the list.
“We are delighted to be recognized for our innovation in the CO₂ marketplace,” said Svante President & CEO Claude Letourneau. “Our team is constantly striving to improve the productivity of our carbon capture system in order to provide the lowest cost of high purity CO₂ product to our customers.”
The list combines Cleantech Group’s research data with qualitative judgements from nominations and insight from a global 87-member expert panel comprised of leading investors and experts from corporations and industrials active in technology and innovation scouting. From pioneers and veterans to new entrants, the expert panel broadly represents the global cleantech community and results in a list with a powerful base of respect and support from many important players within the cleantech innovation ecosystem. The list is sponsored by Chubb.
The complete list of 100 companies was revealed January 28th at the 17th annual Cleantech Forum San Francisco.
- For detailed information on Svante’s outlook as an innovator, visit Cleantech Group’s market intelligence platform, i3, and search for Svante.
- Download the report and meet the companies solving our biggest challenges.
About Svante
Svante Inc. (formerly Inventys Thermal Technologies Inc.), headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enable the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Svante is working to create new market spaces by leveraging its breakthrough carbon capture technology. For more information, please visit https://svanteinc.com/.
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.
The company was established in 2002 and is headquartered in San Francisco with a growing international presence in London. Our parent company, Enovation Partners, is based in Chicago.
For more information, please contact:
Julia McKenna
Investor Relations
jmckenna@svanteinc.com
1(778) 985 5722
Laura Dolby
Cleantech Group
Email: laura.dolby@cleantech.com
To download or read a pdf copy of the release, click: NR_2019-01-20_Cleantech100
October 28, 2018 – NEW YORK – After a rigorous selection process involving hundreds of world-class companies from across the Americas, Svante (formerly Inventys) has been chosen to join twelve other growth-stage ventures in the 2018 Unreasonable Impact Americas program.
Today through November 8, 2018, these entrepreneurs on a mission to generate thousands of future jobs in the emerging green economy will learn how to scale their companies faster at the third annual Unreasonable Impact Americas program. Unreasonable Impact is an innovative multi-year partnership between Barclays and Unreasonable Group to launch the world’s first international network of programs focused on scaling up entrepreneurial solutions that will help employ thousands worldwide while solving some of our most pressing societal challenges.
Svante is a progressive carbontech company with an aspiration to be a global leader in building a physical CO2 marketplace. Action should be taken now to capture CO2 from large manmade industrial and gas power plants. We see carbon management as an opportunity to put CO2 to work. For any climate mitigation portfolio and carbon management plan to be meaningful, it will require CO2 to be utilized and stored at the gigatonne scale.
During the two-week intensive program, Svante will receive mentorship and advice from business experts and serial entrepreneurs, including Tom Chi, former head of experience at Google X; Betty Hudson, President at Hudson & Associates and former Chief Communications Officer at National Geographic; and Ted Roosevelt, Chair of Barclays Cleantech Initiative, among other senior leaders from across Barclays.
The program will take place in Connecticut and include two exhibition events, one of which will be in New York City, where Svante will showcase their innovation.
“Gigatonne-scale carbon management will require massive investments and therefore presents significant supply chain and financing opportunities and challenges,” said Svante President & CEO Claude Letourneau. “I’m very excited to be part of this program and to be challenged by such an impressive network of business experts.”
“Through the Unreasonable Impact program, Barclays hopes to create jobs that benefit society and accelerate economic growth,” said Joe McGrath, Global Head of Banking at Barclays. “This is Barclays’ third year sponsoring the Unreasonable Impact program, and we look forward to supporting these entrepreneurs with our resources and mentorship to help them scale their business.”
Daniel Epstein, Founder and CEO of Unreasonable Group, said, “Since launching Unreasonable Impact, we have supported some of the world’s most exciting and impactful ventures to grow faster and create nearly 7,000 new jobs. We’re incredibly excited to bring this new group of ground-breaking ventures into the global portfolio and support them on their journey of delivering high-impact, rapidly scaling solutions to problems the world previously thought were impossible to solve.”
After two full years of programs, Unreasonable Impact’s community of over 70 ventures currently impacts over 105 million people, operates in over 180 countries, supports nearly 20,000 jobs and has raised a combined $1.3bn in total financing to date. As the third year commences, Svante will join this notable global network in its shared effort to create thousands of jobs on the frontier of the green economy.
For more information, visit unreasonableimpact.com.
The participating US companies include:
- Astraea: Building the world’s most advanced machine learning platform for Earth-observing satellite data and geospatial information.
- Cambrian Innovation: Providing distributed installations to extract resources like clean energy and clean water from wastewater.
- ECOR: Providing material solutions for products to be designed from 100% recycled waste that are also 100% recyclable.
- Evrnu: Recycling cotton garment waste to create premium, renewable fiber for the creation of new clothing.
- Hydrostor: Providing grid-scale electricity storage by storing renewable energy as compressed air.
- Svante: Building the CO2 marketplace via breakthrough carbon capture technology.
- Kuli Kuli Foods: Improving nutrition and farmer income through delicious moringa superfood products.
- Natel Energy: Enabling climate resilient hydropower while maintaining the health of watershed ecosystems and the communities who surround them.
- Qnergy: Providing renewable, reliable, resilient power through Free-Piston Stirling Engine technology.
- Stony Creek Colors: Using bio-based textile dyes to bring sustainability to farmers while empowering fashion brands with transparency.
- Vital Vio: Reinventing disinfection to safely and continuously kill germs, mold, and fungi with the flip of a light switch through advanced LED technology.
- Zero Mass Water: Making drinking water an unlimited resource with SOURCE, a set of panels that make water from air.
- ZincFive: Delivering nickel-zinc based energy storage and delivery solutions for mission critical industries.
About Barclays
Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website www.home.barclays
About Unreasonable Group
Unreasonable’s mission is to drive resources to and break down barriers for entrepreneurs solving key global challenges (i.e. ensuring renewable energy reaches the 1.3 billion people currently without electricity, reimagining the future of healthcare, or addressing the global unemployment crisis). Through running worldwide accelerator programmes, a globally oriented private equity fund, an extensive network of over 300 serial business leaders as mentors, and advanced storytelling and media activities, Unreasonable is designed to exclusively support entrepreneurs positioned to solve society’s toughest problems. For more information about Unreasonable, please visit www.unreasonablegroup.com.
About Unreasonable Impact, created with Barclays
Unreasonable Impact is an innovative multi-year partnership between Barclays and Unreasonable Group to launch the world’s first international network of accelerators focused on scaling up entrepreneurial solutions that will help employ thousands worldwide in the emerging green economy. Since 2016, Unreasonable Impact has hosted programs each year in three distinct markets: the Americas, UK and Europe, and Asia Pacific. To date, the 70-plus ventures that comprise the global cohort operate in over 180 countries, have raised over $1.3bn in funding, have generated over $1.1bn in revenue, and support almost 20,000 jobs.
About Inventys
Svante Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO₂ marketplace and enable the mass market for bulk distributed CO₂ supply by being a focused low-cost supplier. Svante is working to create new market spaces by leveraging its breakthrough carbon capture technology. For more information, please visit https://svanteinc.com/.
For investor inquiries:
Julia McKenna
jmckenna@svanteinc.com
1(778) 985 5722
For media inquiries:
Martin Cej
mcej@longviewcomms.ca
1(587) 319 2828
To download or read a pdf copy of the release, click: NR_2018-10-29_Inventys_Unreasonable-Impact-Americas-2018-Entrepreneur
Advanced carbon capture technology company, Svante, has secured US$11M with lead investment from OGCI Climate Investments, alongside existing investors The Roda Group and Chevron Technology Ventures, as part of a planned US$21M Series C Financing Round
VANCOUVER, BC, Canada — Monday, July 16, 2018 — Svante (formerly Inventys) announced that it has closed an initial tranche of its Series C equity financing led by OGCI Climate Investments, and including existing investors The Roda Group and Chevron Technology Ventures. A total amount raised so far of US$11M towards the Series C financing will fund the 30-tonne per day (TPD) CO₂ capture pilot plant demonstration program with Husky Energy scheduled to be in operation in Q1-2019, as well as support Inventys’ aggressive time-to-market strategy for 2020.
Dr. Pratima Rangarajan, CEO of OGCI Climate Investments, said, “As we address climate change, we must develop economic ways to capture, utilize, and store CO2. Svante’s technology can cause a step change in the economics of CO2 capture.”
“At Inventys, we see it as an opportunity to put CO₂ to work. Some say it’s too costly and difficult to capture and use or store CO₂ using a distributed supply model. We believe Svante’s technology will prove them wrong,” said Svante President & CEO Claude Letourneau.
“We’ve built a world-class team of scientists, engineers, technicians, specialists, strategists, project developers and entrepreneurs dedicated to creating a global CO₂ marketplace using our breakthrough next-generation carbon capture technology.’’
A key building block for unlocking the growth of the CO₂ marketplace is shifting the carbon capture cost curve down by at least a factor of two from conventional technology (chemical solvents). Svante found a way to do this with advanced solid adsorbent nanomaterials, combined with a novel modular compact contactor, to capture CO₂ from very dilute post-combustion flue gases (from industrial processes and gas-fired power plants).
Dr. Steven Chu, former US Secretary of Energy and a member of Svante’s board of directors, said “Carbon capture, utilization, and sequestration from point sources such as power, cement, and steel plants is essential to minimize the risks of climate change. After completing an extensive due diligence process, OGCI Climate Investments recognized that Svante has a leadership position in dramatically lowering the cost of carbon capture needed to develop this multibillion-dollar market opportunity.”
Due to the interest expressed by a number of strategic investors, the company is able to issue a number of additional Series C shares, for additional proceeds of up to US$10M (completing the US$21M Series C round), within a limited time window following this initial close.
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.
About OGCI Climate Investments
OGCI Climate Investments LLP is a billion-dollar investment fund focused on initiating practical actions to deliver solutions for a sustainable, low-emissions future. The fund invests in technologies that have the potential to significantly reduce greenhouse gas emissions, are economically viable, ready to be commercialized, and deployed at scale. It was launched in November 2016 by the Oil and Gas Climate Initiative, a voluntary initiative led by CEOs of 10 global oil and gas companies. For more information, please visit www.oilandgasclimateinitiative.com.
For investor inquiries:
Julia McKenna
jmckenna@svanteinc.com
1(778) 985 5722
For media inquiries:
Martin Cej
mcej@longviewcomms.ca
1(587) 319 2828
For printing or downloading a PDF copy of the release: OGCI-Investment-SeriesC
Raising total Government funding for the once-through steam generator (OTSG) CO₂-capture pilot demonstration program to $12.3M, including support from SDTC, ERA, WINN, and IRAP
VANCOUVER, British Columbia — Friday, December 15, 2017 — Svante Inc. (formerly Inventys Thermal Technologies), the developer of the VeloxoTherm™ Process, a carbon dioxide (CO₂) capture system, is receiving $2.6M from Natural Resources Canada (NRCan) through its Energy Innovation Program to support the development of a 30-tonne per day (TPD) CO₂-capture pilot plant at Husky Energy’s Pikes Peak South Lloyd thermal project.
The announcement was made today in Edmonton by Edmonton Centre MP Randy Boissonnault. “Building on public and private sector investments in innovation, complementary work is underway to reduce emissions from the oil and gas sector,” said MP Boissonnault. “Improved environmental performance in Canada’s oil and gas industry is one of the key paths to a low-carbon economy. Developing and adopting clean technologies will help Canada meet its domestic and international commitments and help maintain our natural resource advantage for years to come.”
This financing adds to existing government financial support received from Sustainable Development Technology Canada (SDTC), Emissions Reduction Alberta (ERA), the Western Innovation Initiative (WINN) from Western Economic Diversification Canada and the Industrial Research Assistance Program from National Research Council Canada (NRC-IRAP) bringing the total non-dilutive program funding to $12.3 million.
“Svante has developed a novel technology aimed at dramatically reducing the cost of capturing carbon from industrial operations,” said ERA CEO Steve MacDonald. “Working in partnership with NRCan, Sustainable Development Technology Canada, and Western Economic Diversification is critical to moving this technology through the stages of scale-up and demonstration.”
NRCan’s addition brings the total external funding for the demonstration program to $22.3 million, which includes a $10 million equity investment from Husky Energy, The Roda Group, and Chrysalix Venture Capital.
“The ongoing support Svante has received from federal and provincial government programs continues to have a significant impact on our ability to commercialize our CO₂-capture technology as a low carbon-footprint solution for the energy sector,” said Svante Co-Founder and VP, Strategic Accounts & Government Affairs, Brett Henkel. “This will allow us to attract foreign direct investment and build a world-class clean technology business based in Western Canada.”
Project Details:
- World’s first pilot-scale plant using structured adsorbents to capture CO₂ from a steam- assisted gravity drainage (SAGD) once-through steam generator (OTSG).
- CO₂ captured from Husky’s SAGD thermal operations will be stored underground while increasing oil recovery from adjacent assets.
- The compact VeloxoThermTM process will enable off-site modular skid manufacturing which significantly reduces plant capital costs compared to traditional stick-built on-site construction.
- Commissioning of the 30-TPD pilot plant is planned for the fall of 2018.
- A self-contained 0.5 TPD VeloxoTherm field demonstration plant is already at this location as a platform for rapid development of Svante’s new adsorbent structures.
“We’re very thankful for the widespread support this project is garnering. It’s the perfect setting to prove our breakthrough carbon capture technology and uphold Canada’s climate goals,” said Svante President and Chief Executive Officer Claude Letourneau. “This project is a cornerstone of our aggressive time-to-market strategy in a beachhead market. It represents an ideal case of CO₂ source-to-sink matching with a single energy provider and a revenue model for monetizing the CO₂.”
Svante’s structured adsorbent is a platform technology for use in various gas separation processes, including the VeloxoTherm™ process. The company’s patented technology is used to capture high purity CO2 from dilute flue gas streams from power plants and industrial processes using novel proprietary solid adsorbent materials.
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
For printing or downloading a pdf copy of the release: NewsRelease_2017-12-15_NRCan-Investment
VANCOUVER, British Columbia —August 31, 2017 — Svante (formerly Inventys Thermal Technologies) announced that Daryl D. Musselman, PhD, P.Eng. was recently appointed Vice President, Manufacturing Operations, filing a strategic position as the carbon capture technology company builds the world’s first pilot-scale plant using structured adsorbents to capture CO2 for Husky Energy.
“Daryl has unique experience in the gas separation business and comprehensive understanding of structured adsorbent bed manufacturing process,” President and CEO Claude Letourneau said. “Furthermore, with more than 25 years’ experience as a mechanical expert, he will be responsible for the strategy, planning, direction and execution for all of our manufacturing operations, including supply chain management, engineering group (manufacturing process and full turn-key gas treatment plants) and field services of gas plants.”
Dr. Musselman commented, “Svante is pioneering the development of a compact adsorption machine to separate CO2 from dilute flue gas. This approach, in my opinion, has the potential to significantly improve the speed, size, and costs of carbon capture system deployment. I look forward to contributing to the commercialization of this technology.”
The VeloxoTherm™ System is a next-generation CO2-capture technology that has the potential to deliver breakthrough capture costs. By combining a uniquely patented solid adsorbent structure with a rapid cycling temperature swing adsorption process, Svante has successfully demonstrated economical CO2-capture capabilities with its compact adsorption machine.
Earlier this year, Svante announced plans to commission a 30-tonne per day (TPD) CO2-capture pilot plant to capture CO2 from a once-through steam generator (OTSG) at Husky’s Pikes Peak South Lloyd thermal project. The pilot plant is planned to be commissioned in the fall of 2018.
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
For printing or downloading a pdf copy of the release: 2017-08-31_VP-Manufacturing.pdf
VANCOUVER, British Columbia —August 31, 2017 — Former Airbus CTO Jean Botti recently joined the Board of Directors of Svante (formerly Inventys) a clean energy technology company that has developed a transformational method for capturing CO2 from industrial, natural gas and coal power plants.
“I’m very pleased to join the board of Svante at such a pivotal time in our history as the world comes together to address decarbonizing the energy sector” said Botti. “I look forward to working closely with the other members of the Board and executive team to help develop new collaboration to spur innovation and to tap into the capabilities of industrial partners and universities needed to commercialize this technology.”
The VeloxoTherm™ System is a next generation CO2-capture technology that has the potential to deliver breakthrough capture costs. By combining a uniquely patented solid adsorbent structure with a rapid cycle temperature swing adsorption process, Svante has successfully demonstrated economical CO2 capture capabilities with its compact adsorption machine.
Svante President and CEO Claude Letourneau said, “With extensive experience in managing world-class industrial R&D programs, large-scale product development and market launches, the appointment of Mr. Botti will further strengthen our ability to rapidly scale-up our first pilot plant and to develop a high-quality and reliable manufacturing eco-system.”
Recently Inventys announced plans to build a 30-tonne per day (TPD) CO2-capture pilot plant aimed at producing a low-cost CO2-supply solution for Husky Energy’s heavy oil enhanced oil recovery (EOR) program near Lloydminster, Saskatchewan.
“Jean provides experience launching first-in-the-world technologies and creating market leaders,” Svante Chairman Wayne G. Thomson said. “He is widely recognized for accelerating development and Svante will benefit from his global experience building partner relationships.”
Botti was Chief Technical Officer of Airbus Group from 2006 to 2016 where he was responsible for research and development, business development, and program management. During this time he created the 25-year roadmap for electric aviation and delivered the world’s first electrical aircraft in 2015.
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
WATCH OUR CARBON CAPTURE VIDEO
For printing or downloading a pdf copy of the release: 2017-08-31_New-Director-Botti.pdf
BURNABY, BC, July 13, 2016 /CNW/ – Cleantech innovator Svante (formerly Inventys Thermal Technologies) is receiving up to $275,000 from the Government of Canada to deliver a cutting-edge CO2 capture technology. The announcement was made today by Terry Beech, Parliamentary Secretary for Science, on behalf of the Honorable Kirsty Duncan, Minister of Science.
“Investing in the low carbon economy has the potential to bring lasting health, economic, and environmental benefits to Canadians and people around the world,” said Parliamentary Secretary Terry Beech. “Our government’s commitment to combatting greenhouse gas emissions means increasing opportunities for Canadian small and medium-sized inventors, like Svante.”
This funding will go toward the development of Svante’s next-generation VeloxoTherm system, a solid adsorbent technology. The VeloxoTherm system is a low-cost, non-toxic technology that captures CO₂ from post-combustion emissions and is used by the energy and industrial sectors for greenhouse gas reduction.
This investment is made through the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), which supports thousands of small and medium-sized enterprises in Canada every year in developing and commercializing innovative technologies.
“Svante has the potential to develop a Canadian-made, new-to-the-world adsorption technology for carbon capture that removes the barriers to a low-carbon economy,” said Svante’s Executive Chairman, Wayne G. Thomson. “Funding from NRC-IRAP and the program’s hands-on approach continues to have a significant impact on the development of our transformative clean energy technology.”
NRC-IRAP has worked with Svante (formerly Inventys) since 2008, attracting other investors and influencing the company’s growth from two to 22 employees.
Related Links
Svante Inc.
National Research Council of Canada Industrial Research Assistance Program
SOURCE National Research Council Canada
For further information: Media Relations Team, National Research Council of Canada, 1-855-282-1637 (toll-free, 24/7, in Canada only), 1-613-991-1431 (elsewhere in North America), media@nrc-cnrc.gc.ca, Twitter: @NRC_CNRC; Véronique Perron, Press Secretary, Office of the Minister of Science, 343-291-2600; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, ic.mediarelations-mediasrelations.ic@canada.ca
RELATED LINKS
www.nrc.gc.ca
For printing or downloading, here is a pdf copy of the release.
Financing supports the deployment of a next-gen carbon capture pilot plant at Husky’s Pikes Peak South Lloyd thermal project
VANCOUVER, British Columbia — Tuesday, July 11, 2017 — Svante (formerly Inventys Thermal Technologies), the developer of the VeloxoTherm™ System, a carbon dioxide (CO2) capture process, today announced that it has closed an equity financing with Husky Energy as lead investor. The Company raised total cash proceeds of CAD$10 million in this first tranche of its current Round B-11 financing process, including investments from existing investors, The Roda Group and Chrysalix Energy Venture Capital.
Proceeds from the transaction will fund a 30-tonne per day (TPD) CO2-capture pilot plant aimed at producing a low-cost CO2-supply solution for Husky’s heavy oil enhanced oil recovery (EOR) program near Lloydminster, Saskatchewan.
“We’re very pleased to work with Husky and welcome its investment and industry knowledge,” said Svante President and Chief Executive Officer Claude Letourneau. “This is the world’s first pilot-scale plant using structured adsorbents to capture CO2 from a once-through steam generator (OTSG) for use in heavy oil recovery.”
Letourneau added, “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.”
The VeloxoTherm™ System is a next-generation CO2-capture technology that has the potential to deliver breakthrough capture costs. By combining a uniquely patented solid adsorbent structure with a rapid cycling temperature swing adsorption process, Svante has successfully demonstrated economical CO2 capture capabilities with its compact adsorption machine.
Earlier this year, Svante commissioned a self-contained 0.5 TPD VeloxoTherm field demonstration plant at the same Husky site as a platform for rapid development of its new adsorbent structures. The demo plant has recorded meaningful data since testing began in early 2017. The test results over the next six months will shape the design of the 30-TPD plant. The pilot plant is planned to be commissioned in the fall of 2018.
Husky has been growing its heavy oil bitumen production in the Lloydminster region of Saskatchewan and Alberta through the use of thermal technologies, where steam is injected into oil reservoirs to increase recovery. Through Svante’s technology, Husky is looking to capture the CO2 generated from its thermal operations and use it to increase oil recovery from adjacent assets.
Svante’s structured adsorbent is a platform technology which is used in gas separation processes, including the VeloxoTherm™ process. The company’s patented structured adsorbent technology is used to capture high purity CO2 from dilute flue gas from coal and gas-fired power plants and industrial processes using novel proprietary solid structured adsorbent materials. This technology supports an aggressive time-to-market strategy needed to keep global warming under 2°C.
For investor inquiries:
Julia McKenna
jmckenna@svanteinc.com
1(778) 985 5722
For media inquiries:
Martin Cej
mcej@longviewcomms.ca
1(587) 319 2828
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
Wayne G. Thomson leads company as Executive Chairman. VeloxoTherm™ co-inventor Soheil Khiavi named as CTO. New direction focuses on open collaboration.
VANCOUVER, British Columbia — May 24, 2016 — Svante Inc. (formerly Inventys Thermal Technologies) today announced several leadership changes to support the company’s ongoing strategy to transform the carbon capture industry with its VeloxoTherm™ process.
The Board of Directors appointed Wayne G. Thomson, a seasoned oil, gas, and technology executive as Executive Chairman, replacing CEO André Boulet. Soheil Khiavi, co-inventor of the VeloxoTherm™ process, was named to the new role of Chief Technology Officer (CTO). The newly appointed executive team also includes co-founders Brett Henkel, VP, Commercial Development and Darryl Wolanski, VP, Business Development; plus, Karen Miller, VP Finance; and Matthew Stevenson, Director, Corporate Strategy.
“To mitigate the risks of climate change, we will need to capture carbon from all localized sources, especially coal and natural gas power plants, and also from cement, steel, fuel, and petrochemical plants,” says Svante Board Member Dr. Steven Chu, former US Energy Secretary and Nobel Laureate. “Svante is developing technical advances that should dramatically reduce the cost of carbon capture so that it can be deployed worldwide. If successful, our technology could revolutionize carbon capture.”
“The Board thanks Mr. Boulet for his contributions to the business,” said Mr. Thomson. “This change reflects Svante’s renewed interest in developing partnerships with industry and academia which will be critically important in advancing the company’s next generation carbon capture technology.”
As CTO, Mr. Khiavi will lead the company’s focus on developments in adsorbent materials and broaden the application of its core technology platform for other gas separations. Mr. Khiavi has more than 20 years of experience in fundamental research and product development and is cited on at least 100 patents and patent applications and numerous technical publications in the field of gas separations
“Svante’s Adsorbent Structures are a technology platform that can be used in numerous gas separation processes, including carbon capture,” said Mr. Khiavi. “Adsorbent structures are an enabling technology that can employ adsorbent materials of most any description and put them to use in real-world applications.”
ABOUT SVANTE
Svante aims to revolutionize carbon capture and accelerate the global transition to a low-carbon economy. The company’s VeloxoTherm™ process uses patented adsorbent structures and a rapid cycle thermal swing process to avoid the high costs associated with other conventional carbon capture processes. For more information, please visit https://svanteinc.com/ or connect with us on Facebook or Twitter @svantesolutions
For more information please contact:
Svante Inc.
Tel: 604.456.0504
Email: info@svanteinc.com
For printing or downloading a pdf copy of the release: 2016-05-24_Leadership-Changes_news
Appointments include New Chairman: Wayne G. Thomson, Director of Cenovus Energy; and, Tracy Evans, former Denbury Resources COO
VANCOUVER, British Columbia — December 22, 2015 — Svante Inc. (formerly Inventys), the developer of the VeloxoTherm™ carbon dioxide (CO2) capture process, today announced the appointment of new board members including new chairman Wayne G. Thomson, Director of Cenovus Energy; and, Tracy Evans, former Denbury Resources COO.
“As Svante progresses its commercialization plan, Wayne and Tracy will provide strong leadership and invaluable insights into oil and gas operations and CO2-enhanced oil recovery (EOR) market opportunities,” said (former) Svante President and CEO André Boulet.
Mr. Thomson will join the Svante Board of Directors as Chairman. He has more than 35 years of Canadian and International business experience and serves as a Director of Cenovus Energy, TVI Pacific, Maha Energy, and Enviro Valve.
“The Svante technology allows CO2 to be recovered at a lower cost than any competing technology,” said Wayne G. Thomson. “Combined with this exceptionally capable team and the right strategy, our VeloxoTherm™ process has a key role to play in solving climate change. The people involved understand that using the recovered CO2 for enhanced oil recovery is the ideal way to make it commercial now.”
Also joining the board is Tracy Evans, President and Chief Operating Officer of Tabula Rasa Partners. Prior to joining Tabula Rasa, Evans held various executive management positions with Denbury Resources and Matador Petroleum.
“I have been following anthropogenic CO₂ opportunities for more than 10 years and very few of them have come to fruition,” said Mr. Evans. “The VeloxoTherm™ process is the first post-combustion technology that could economically capture and supply CO2 to CO2-EOR projects in the future allowing for the recovery of millions of previously unrecoverable barrels of oil. It is very exciting to be a part of that.”
Mr. Thomson and Mr. Evans join the existing Svante Board members: Dr. Steven Chu (Nobel Laureate and former US Secretary of Energy), Dr. Denis Connor (QuestAir Technologies founding CEO & former Chairman), Dan Miller (The Roda Group Managing Director), Marty Reed (The Roda Group Principal), Dr. Wal van Lierop (Chrysalix Energy Venture Capital President & CEO), Soheil Khiavi (Svante co-founder and VP, Technology) and André Boulet (Svante, President, CEO, and co-founder).
About Svante:
Svante is an energy technology company that could alter carbon dioxide (CO2) emissions worldwide. The company has developed the VeloxoTherm™ process, which is the most economically viable means to capture carbon at its emission source. Unlike conventional methods, the VeloxoTherm™ process uses Svante’s patented structured adsorbent and its rapid cycle thermal swing process. This approach maximizes carbon capture efficiency and avoids the high cost of other carbon capture processes. The VeloxoTherm™ process is the future of carbon capture for use in enhanced oil recovery (EOR) and greenhouse gas (GhG) reduction and could accelerate the global transition to a low carbon economy. For more information about Inventys and the VeloxoTherm™ process, please visit https://svanteinc.com/. You can also connect with us on Facebook or Twitter @svantesolutions.
View Wayne G Thomson’s online profile and Tracy Evan’s online profile.
For more information please contact:
Svante Inc.
604.456.0504
info@svanteinc.com
For printing or downloading a pdf copy of the release:
2015-12-22_NewBoardMembers.
Capturing Carbon
Economically, Today
With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes commercial-scale carbon capture reality, and positions global industries to play offense in the fight against climate change.
CO₂ capture company triples the size of its headquarters
Nothing scatters friends quicker than saying you’re moving.
Fortunately, when Svante (formerly Inventys) recently relocated to a larger space we had a dedicated group of employees and some robust professionals to help with the heavy lifting, which included moving all the testing and demonstration units.
Our new location, which is more than triple the size of the previous site, provides dedicated space for the state-of-the-art analytical lab, testing facilities, and manufacturing center as well as sufficient office and meeting areas.
This is the fourth move for the company that started eight years ago with weekly meetings in the CEO’s condo.
Relocating to a new 20,000-sq.-ft. facility reflects the progress of its commercialization strategy and the company’s commitment to its unique CO₂ capture technology. Adding a manufacturing division enables the independent fabrication and assembly of the customised VeloxoTherm™ structured adsorbents.
“The new manufacturing department supports the delivery of our upcoming pilot plant and will accelerate the rate of deployment of our projects,” says VP, Operations Paul Towgood. “This represents another achievement in our commercialization plan.”
Svante’s new site will also accommodate the further development, testing and deployment of customized CO₂ capture processes.
Funding to advance Company’s breakthrough carbon capture technology which enables economical EOR and CCS
VANCOUVER, British Columbia, (Marketwired)—July 30, 2014—Svante Inc. (Inventys Thermal Technologies), a proven team of gas separation pioneers commercializing the lowest cost, most energy-efficient technology for capturing post-combustion carbon dioxide (CO₂ ) from industrial flue gas streams, today announced it has closed additional financing.
Building on continued funding support from international venture capital firm, Mitsui Global Investment (MGI), and leading cleantech investor, The Roda Group, the financing also included new participation from Chevron Technology Ventures LLC (CTV), the Venture Capital arm of Chevron Corporation, and Chrysalix Energy Venture Capital, one of the longest serving cleantech venture capital firms.
The funding will be used to expand manufacturing and enable the deployment of full-scale systems with leading energy and manufacturing companies in late 2016.
Svante’s breakthrough gas separation system, VeloxoTherm™, is based on a proprietary low-pressure Temperature Swing Adsorption (TSA) technology resulting in a carbon capture cost of USD $15 per tonne—one third the cost of today’s post-combustion solutions. At a fraction of the size of other systems, the flexibility to integrate into new and existing combustion and chemical processes, and the unique ability to regenerate the CO₂ -saturated adsorbent using minimal energy, Svante’s practical approach enables the widespread adoption of CO₂ -enhanced oil recovery (EOR) and carbon capture and sequestration (CCS) while helping customers reduce their environmental footprint.
“The appetite for low-cost CO₂ capture is rising as large oil and gas corporations increasingly make it a significant strategic priority,” said Jean-Michel Gires, Venture Partner with Chrysalix EVC and former President & CEO of Total E&P Canada. “Svante’s capital efficiency and capacity to work with a variety of CO₂ sources, concentrations, and volumes will make EOR and carbon sequestration economically appealing.”
This financing comes on the heels of the Company’s successful in-house, full system pilot incorporating real flue gas and industrial hardware from Howden, and the announcement that former U.S. Energy Secretary, Dr. Steven Chu, has joined the Svante’s Board of Directors.
“We believe we have developed the most viable carbon capture technology to leverage the abundance of man-made waste CO₂ for the production of a valuable product—oil—while also sequestering CO2 from large carbon emitters,” said Andre Boulet, (former) CEO of Svante. “We’re thankful for the support of these investors—old and new—and will continue to deliver on key milestones including the deployment of a first-of-its-kind commercial system in 2016.”
“The Roda Group is a long-time supporter of Svante (formerly Inventys Thermal Technologies) recognizing early on its potential to fundamentally change the way we produce energy,” confirmed Dan Miller, Managing Director of The Roda Group. “We invest in passionate, proven teams that stand to deliver products with enormous market opportunity and make a positive impact on the world. The Svante team is just that and together, we have the ability to advance the EOR market while curbing the planet’s greenhouse gas emissions.”To learn more about Svante and its VeloxoTherm™ carbon capture system, please visit https://svanteinc.com.
About Svante Inc.
Svante Inc. is a proven team of gas separation pioneers commercializing the lowest cost, most energy efficient technology for capturing post-combustion carbon dioxide (CO₂ ) from industrial flue gas streams. The Company’s proprietary VeloxoTherm™ process is less than one third the cost of today’s post-combustion solutions, is a fraction of the size of other systems, and works with a variety of CO₂ sources, concentrations, and volumes. Svante’s practical, capital-efficient approach means for the first time, energy and manufacturing companies can affordably reduce carbon emissions and man-made CO₂ can be economically utilized to produce valuable oil, finally enabling the widespread adoption of carbon capture and sequestration (CCS) and enhanced oil recovery (EOR). For more information on Svante Inc., please visit https://svanteinc.com/
VANCOUVER, British Columbia, (CNW)—Dec. 18, 2013—Nobel Laureate and former US Secretary of Energy, Dr.Steven Chu has joined the Board of Directors of Svante Inc. (Formerly Inventys Thermal Technologies), a company that has developed a breakthrough method for capturing CO2 from coal and natural gas power plants. It is significantly less costly to build and operate than competing systems. The captured CO2 can be injected underground for Carbon Capture and Sequestration (CCS), Enhanced Oil Recovery (EOR), or can be used in industrial applications such as chemical manufacturing.
“Carbon capture is a critical technology to move us to a clean energy future and Svante Inc. has developed a practical, compact, and low cost system that allows existing fossil fuel power plants to dramatically lower their carbon emissions,” Dr. Chu said. “I look forward to serving on their board and helping guide the company forward.”
The Svante system, called VeloxoTherm™, uses significantly less energy than competing systems, and this, combined with low capital costs, results in a capture cost of about $15 per ton of CO2, less than 1/5th the cost of current processes. In addition, the Svante system is less than 1/10th the size of competing systems and is small enough to retrofit to existing power plants by connecting it directly to the flue stack.
Dr. Chu is currently the William R. Kenan, Jr. Professor of Physics and Professor of Molecular and Cellular Physiology at Stanford University. Before serving as Secretary of Energy in the first Obama administration, Dr. Chu was Director of the Lawrence Berkeley National Laboratory (LBNL) and Professor of Molecular and Cellular Biology at the University of California, Berkeley. Dr. Chu won the Nobel Prize in Physics in 1997 for “development of methods to cool and trap atoms with laser light.”
Andre Boulet, (former) CEO of Svante Inc., said “Dr. Chu brings an incredibly broad expertise to Svante — from molecular interactions to the macroeconomics of energy systems, and everything in between. We are thrilled to have him join our board.”
“I have been admiring Dr. Chu’s work since he led LBNL to preeminence in energy research. His deep knowledge and broad experience will bring tremendous value to Svante,” said Dan Miller, Managing Director of The Roda Group, the lead investor in Svante and the largest private investor in renewable oils company Solazyme.
The Svante VeloxoTherm™ system is based on a Low Pressure Thermal Swing method. Put simply, a slowly rotating structure holds a proprietary material that traps carbon dioxide when it is cool and releases it when it is hot. On half of the rotation cycle, flue gas from the power plant is passed through the material and the CO2 in the flue gas is captured. On the other half of the cycle, steam is injected into the material to release the CO2, the leftover steam is condensed out leaving pure CO2, and the material cools down to be ready for the next cycle. The CO2 is then pumped underground for CCS or EOR applications, or used as a feedstock for chemical manufacturing or other industrial applications.
Svante (Formerly) Inventys Thermal Technologies is based in Vancouver, Canada. The development of its technology is being supported by Sustainable Development Technology Canada, Alberta’s Climate Change and Emissions Management Corporation, and the National Research Council. More information about the company is available at https://svanteinc.com/.
For more information, contact:
Svante Inc.
info@svanteinc.com
+1-604-456-0504
SOURCE Svante Inc.
For further information:
The CCEMC announced $46 million in funding for carbon capture and storage and cleaner energy projects July 12, 2012. The projects have a combined value of more than $327 million.
“The CCEMC is supporting industry efforts to reduce greenhouse gas emissions from fossil fuels while helping to ensure Alberta can continue to be a global energy leader, even as we transition to other sources,” said CCEMC Chair Eric Newell. “By addressing challenges facing Alberta’s large emitters we are funding projects that have tremendous potential to reduce Alberta’s greenhouse gas emissions over the long term.”
The organizations receiving funding from CCEMC are:
- Cenovus Energy Inc. – $10 million for a Chemical Looping Steam Generator – 10 MW Pilot at Christina Lake near Fort McMurray
- Husky Energy – $2.9 million for the Lashburn CO2 Capture Demonstration Project near Lloydminster
- Imperial Oil – $10 million for a Cyclic Solvent Process pilot in Cold Lake
- Svante Inc. (Formerly Inventys Thermal Technologies Inc.) – $3 Million for the VeloxoTherm™ CO2 Capture Project at Joffre
- MEG Energy Corp. – $10 million for Heavy Crude Quality Improvement in the Alberta Industrial Heartland Region
- N-Solv Corporation – $10 million for the N-Solv BEST Pilot Plant at Suncor Dover in Fort McMurray
For more details, read our press release and backgrounder at ccemc.ca.
BERKELEY, Calif., (BUSINESS WIRE)—June 5, 2012—The Roda Group, the largest investor in the renewable oils company Solazyme (NASDAQ:SZYM) and a venture capital group focusing on large-scale and lucrative business opportunities that address the issues of climate change, increasing demand for low carbon energy, and stress on the Earth’s natural resources, announced that it has invested in two new companies in the cleantech space.
mOasis has created a soil amendment product that increases crop yields while simultaneously reducing the need for fertilizer, water and water-related energy use. The product is a new type of hydrogel, a polymer known for its ability to absorb massive quantities of water. The mOasis product is able to enhance the amount of moisture and nutrients available to a plant’s root zone and significantly reduce water stress between rain or irrigation cycles. The company is led by Susanna Kass, CEO and Dr. Nai Hong Li, Co-Founder and CTO. mOasis is currently conducting field trials, managed by prominent agriculture scientists, that have already produced promising results.
Svante Inc. (Formerly Inventys Thermal Technologies) has developed an energy and capital-efficient technology for capturing carbon dioxide from industrial sources. The company’s proprietary process is less than one-third the cost of existing industrial CO2 capture technologies and will enable the widespread adoption of carbon capture and sequestration. The company is led by CEO Andre Boulet and fellow co-founders Brett Henkel, Soheil Khiavi and Darryl Wolanski. Inventys is building an in-house pilot unit capable of capturing multiple tons of CO2 per day from a natural gas power generator by late 2012 and will be deploying field units with major industry partners in 2013.
Roger Strauch, Chairman of The Roda Group, said, “As was the case with Solazyme, The Roda Group is enthusiastic and proud to invest in talented and passionate people who look forward to developing and selling products that address enormous market opportunities while helping the world build a more sustainable and healthy environment and food supply. We believe that mOasis and Inventys will fundamentally advance the way we grow food and produce energy, respectively.”
Calgary, Alberta, July 7, 2010 – Eighteen clean technology projects from across Canada that will help green Canada’s economy today received $40 million in funding to help move innovative technology solutions to the market. The announcement, confirming the decision of the Board of Directors of Sustainable Development Technology Canada (SDTC), was made today by the Honourable Jim Prentice, Minister of the Environment, and Dr. Vicky Sharpe, SDTC’s President and CEO.
“Our government continues to invest in projects that reflect our balanced approach to reducing emissions,” said the Honourable Jim Prentice, Minister of the Environment. “These projects will create high-quality jobs for Canadians now, and provide us with a healthier environment and sustainable prosperity in the future.”
“SDTC and the Government of Canada are providing industry the tools they need to become more productive, competitive and efficient,” said SDTC Chairman Juergen Puetter. “When these companies bring their technologies to businesses and consumers, they create jobs, provide Canada a technological edge and contribute to improving the quality of Canada’s air, water and soil”.
These innovative clean technologies involve many of Canada’s main economic sectors. Some highlights of this round include:
- Technologies that will help the oil and gas sector to reduce its environmental impacts by reducing its energy and clean water use as well as the risk of pipeline failures
- Technologies that could be used by the automotive, industrial freight and aviation sectors to become more environmentally friendly while remaining economically sustainable
- Technologies that will increase the efficiency and safety of wastewater treatment
These new investments bring SDTC’s total portfolio value to over $1.6B. SDTC’s SD Tech Fund™ has completed sixteen funding rounds, committing $478 million to 195 clean technology projects. These figures include adjustments made to the portfolio.
SDTC’s investments to date are creating Canadian green jobs, have attracted additional private sector investment of over $2.5 billion and are expected to deliver an overall reduction of greenhouse gas emissions of between 7 and 17 Megatonnes – the equivalent of taking up to 1.9 million homes off the grid.
“The convergence of clean technologies promises to revolutionize our existing industries, marrying environmental stewardship with economic prosperity,” said Vicky Sharpe, SDTC President and CEO. “These clean technologies allow our key industries, such as agriculture, transportation and oil and gas, to reduce waste, conserve power, minimize pollution and create new, value-added products all at once.”
The newly funded projects are representative of the investment priorities established in the SD Business Cases™, a series of six reports published by SDTC and which provide strategic insights into specific economic sectors (available in the Knowledge Centre section of the SDTC website at www.sdtc.ca). The latest report on industrial freight transportation was released on December 2, 2009. Other sectors previously studied include clean conventional fuels, renewable electricity and commercial buildings.
About SDTC
SDTC is an arm’s-length foundation created by the Government of Canada which has received $1.05 billion as part of the Government’s commitment to create a healthy environment and a high quality of life for all Canadians.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
Detailed information on the 18 projects, including their descriptions, can be found here.
For more information, please contact:
Media Relations:
Patrice Breton
Director, Communications
SDTC
Tel: 613-234-6313 ext 295
media@sdtc.ca
Richard Walker
Office of the Minister
Natural Resources Canada
Ottawa
613-996-2007
The amine solution used by SaskPower at its Boundary Dam 3 carbon capture and storage plant is very expensive and leads to cost overruns for the Crown corporation. The pressure
of the green shift on coal-fired power plants does not fade nationally, and from coast to coast, companies are developing alternatives to amines to reduce the bill.
- admin.crm
- February 23, 2024
- 7:40 pm
