Svante, a Burnaby, BC, Canada-based company that offers commercially viable way to capture large-scale CO2 emissions from existing infrastructure, raised $318M in Series E funding.
The round was led by Chevron New Energies, with participation from Temasek, OGCI Climate Investments, Delek US, Hesta AG, 3M Ventures, Full Circle Capital, GE Vernova, Japan Energy Fund, Liberty Media, M&G Catalyst, Samsung Engineering, TechEnergy Ventures and United Airlines Ventures.
The company intends to use the funds to accelerate the manufacturing of its carbon capture technology and.
Led by CEO Claude Letourneau, 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. It has the ability to capture CO2 from industrial sources and directly from the atmosphere in an environmentally sustainable way.
Its commercial-scale filter manufacturing facility in Vancouver is anticipated to produce enough filter modules to capture millions of tonnes of carbon dioxide (CO2) per year across hundreds of large-scale carbon capture and storage facilities.
FinSMES
19/12/2022