Svante announced that the Canadian government made a C$25 million investment to support the industrialization and commercialization of its novel low-cost carbon capture technology within the North American market.
The investment comes from the Strategic Innovation Fund’s Net Zero Accelerator initiative and aligns with the government’s strengthened climate plan – A Healthy Environment and a Healthy Economy, which will help Canada achieve its economic and environmental goals.
Svante will use the funding to set-up a new Centre of Excellence for Carbon Capture Use and Storage (CCUS) in Vancouver. This 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,” said the Honorable François-Philippe Champagne, minister of innovation, science and industry. “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.”
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 three world-scale carbon capture plants of 1 million tonnes per year.