VANCOUVER, British Columbia & ARVADA, Colo.--(BUSINESS WIRE)--Carbon America and Svante Technologies Inc. (Svante) have announced a collaboration to focus on commercial deployment of carbon capture, utilization and storage (CCUS) projects in the United States.
The companies will work together to identify and deploy projects which can rapidly reduce greenhouse gas emissions in the United States. The collaboration leverages Svante’s novel solid sorbent carbon capture technology and Carbon America’s expertise in CCUS project development.
“Carbon capture is a critical component to the energy transition and Carbon America believes that collaboration is needed amongst players in this space to create meaningful change quickly," said Brent Lewis, CEO of Carbon America. “By combining Carbon America’s project development expertise with Svante’s ready-to-deploy technology, we can more rapidly drive down greenhouse gas emissions across the industrial sector. We’re excited to collaborate with the incredible Svante team.”
Carbon America’s vertically integrated approach to CCUS development – from development to financing, engineering and execution – enables projects to move from concept to operation faster and more cost-effectively. Carbon America’s expertise across the capture-transport-storage value chain helps reduce critical risks along the development path to ensure the long-term success of projects.
“We’re enabling industries around the world to decarbonize their operations with second generation carbon capture and removal technology that is both environmentally responsible and efficient," said Brett Henkel, Svante’s Co-Founder & VP Strategic Accounts and Government Affairs. “Collaboration is the key to success in this market, and working with companies like Carbon America will enable us to accelerate the deployment of our technology with enhanced ability to finance, build and operate carbon capture projects at scale in an efficient, cost-effective way.”
Svante has attracted attention in the CCUS space over the last few months due to the closing of its record-breaking Series E fundraising round, which raised US$318 million, led by Chevron New Energies and followed by other large entities including 3M Ventures (the venture arm of 3M), United Airlines Ventures, Samsung Ventures, and more. The company made the 2023 Global Cleantech 100 list and recently announced other strategic collaborations, including one with General Electric, where the two companies will work to research and develop solid sorbents to capture CO2 from natural gas combined cycle emissions sources in power generation.
Svante’s carbon capture filters are made by coating solid adsorbents, including metal-organic frameworks (MOFs), onto thin sheets of laminate that are stacked to become the company’s nano-engineered filters. These filters can be used in multiple applications for capturing CO2 from hard-to-abate industrial emissions that come from the production of cement, hydrogen, steel, oil & gas, aluminum, lime, pulp & paper, and more. The technology can be used for point-source post-combustion carbon capture in which the filters take CO2 out of industrial flue gas (the source of the emission) and prevent it from reaching the atmosphere. It can also be deployed in direct air capture projects, in which the low concentration of CO2 is trapped and removed from ambient air.
About Carbon America
Carbon America is a vertically integrated carbon capture and storage (CCS) developer, owner, and operator with a mission to decarbonize the energy and industrial sectors. The company’s team of world-class experts cover the entire CCS value chain, including capture processes; geology, geoscience, reservoir engineering; project development; commercial, finance, and tax equity structuring; regulatory and advocacy engagement; and acquisition of necessary land and sequestration site management for CO₂ storage. The company is currently developing CSS projects at three ethanol plants that combined would reduce CO2 emissions by 525,000 metric tons annually. For more information, visit www.carbonamerica.com/.
Svante manufactures solid sorbent-based filters and rotary contactor machines that capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be used for further industrial use in a closed loop. With the ability to capture CO2 from industrial sources and directly from the atmosphere in an environmentally sustainable way, Svante makes industrial-scale carbon capture and removal a reality. The company is on the 2023 Global Cleantech 100 and was ranked second among private companies in the Corporate Knights Future 50 Fastest-Growing Sustainable Companies in Canada. To learn more about Svante, visit www.svanteinc.com, or follow Svante on LinkedIn or Twitter @svantesolutions.