Vancouver’s Svante Inc. (Formerly Inventys Thermal Technologies) announced a research and development agreement Tuesday to develop the VeloxoTherm carbon capture system with Suncor Energy.
The program is funded partly by the federal government’s Canada Industrial Research Assistance Program.
Carbon dioxide can be buried or used for enhanced oil recovery whereby it is injected into oil fields to push oil to the surface. But there could be a complication on the horizon.
New Alberta Premier Alison Redford plans to re-evaluate the feasibility of Alberta government subsidies for carbon capture and storage. Some $400 million remaining in the $2 billion program is now in jeopardy.