Inventys Inc., the Canadian carbon capture technology company, has changed its name to Svante Inc., effective immediately.
Svante Inc. takes is named after Nobel Laureate Svante Arrhenius (1859-1927), one of the first scientists to identify the atmospheric carbon-climate change connection.
The new identity signifies Svante’s evolution from a technology development company to a commercial enterprise, poised to help its customers transition to a net-zero carbon future.
“The world is facing a global climate crisis because we emit morec carbon dioxide (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, fertilisers and hydrogen. And that means Svante is uniquely positioned to help governments and key global industries join the fight against climate change.”
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.
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, British Columbia, 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.