Svante has unveiled plans for a new centre of excellence for carbon capture use and Ssorage (CCUS) in Vancouver, British Columbia, to scale up its carbon capture technologies.
The Government of Canada on Wednesday (7th July) made an $25m investment to support the industrialisation and commercialisation of Svante’s low-cost carbon capture technology.
Awarded on Wednesday (7th July), the investment comes from the Strategic Innovation Fund’s Net Zero Accelerator initiative and aligns with the Government of Canada’s climate plan.
With the capital, Svante wants to scale up its manufacturing operations to produce commercial scale structured absorbent filters and to test its proprietary rapid adsorption machine (RAM) designs at its new site.
Commenting on the plans, Claude Letourneau, President and CEO of Svante, said, “Vancouver is the Silicon-Valley of carbon capture technology development and we are very proud to anchor our World Headquarter, R&D and Engineering test centre, and first commercial filter manufacturing plant in Canada.”
“Lowering the capital cost of the capture of the CO2 emitted in industrial production is critical to the world’s net-zero carbon goals required to stabilise the climate. Leaders from industry, financial sectors and government agree on the enormity of the challenge and the critical need to deploy carbon capture and carbon removal solutions at gigatons scale. The carbon pulled from earth as fossil fuel needs to go back into the earth in safe CO2 storage.”
With the funds, Svante has now attracted more than $195m in funding since it was founded in 2007 to develop and commercialise its breakthrough solid sorbent technology at half the capital cost of traditional engineered solutions.
Commenting on the Government’s support for the company, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, said, “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.”
“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.”