Svante, Inc., a Vancouver, British Columbia. Canada-based solid sorbent technology company, closed USD $75m in Series D equity financing.
The round was led by Temasek and includes strategic investors Chart Industries (NYSE: GTLS), Carbon Direct and Export Development Canada (EDC). Existing investors OGCI Climate Investments, BDC Cleantech Practice, Chevron Technology Ventures, The Roda Group and Chrysalix Venture Capital also participated in the round.
The company, which has now attracted more than USD$150m in funding since it was founded in 2007, intends to use the funds to advance a number of initiatives over the next three years, including work to support several commercial scale carbon capture facilities to address hard-to-abate emissions from industrial operations (such as cement manufacturing, blue hydrogen production and natural gas boilers).
Led by Claude Letourneau, President & CEO, Svante offers companies in emissions-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.