Svante Raises US$11m for Carbon Capture Pilot with Husky

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A B.C. cleantech company’s bid to battle pollution is a step closer to reality after closing its second equity financing deal in a year.

Burnaby-based Svante Inc. (formerly Inventys) announced July 16 that it’s landed US$11 million to help fund its 30-tonne-per-day carbon capture pilot plant with Husky Energy Inc. (TSX: HSE).

OGCI Climate Investments LLP, an industry-backed investment fund that includes BP plc (NYSE: BP) and Royal Dutch Shell plc, led the latest funding round.

“We’ve been leveraging government funding but we also need the private sector,” Svante CEO Claude Letourneau told Business in Vancouver.

“For us it’s a vote of confidence from the global energy leaders that we’re doing the right thing.”



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

Brett Henkel

Co-Founder and Vice President Strategic Accounts & Government Affairs

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

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

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

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

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

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