Founded in a Garage, Svante Raising New 'Series-E' Financing, Celebrates 15 Years Pioneering Carbon Capture & Removal SolutionsWednesday, November 16, 2022
Burnaby, BC, November 16, 2022--(T-Net)--Since its founding in a garage in 2007, Svante has grown to employ nearly 200 professionals.
The company has attracted customers and partners from leading organizations around the world and has been listed in the widely regarded 2021 Global Cleantech 100 List and the Corporate Knights' 2022 Future 50 Fastest-Growing Sustainable Companies in Canada.
Svante's unique carbon capture technology is based on nano-material solid adsorbents coated onto a nano-engineered filters. These filters can be used to capture CO2 from the source of industrial emissions as well as from the atmosphere, known as "direct air capture" or "DAC".
400 Model - Pilot Plant 30 tonne per day
1500 Model - Commercial Plant from 500 to 1,000 tonne per day
The company's second-generation carbon capture technology is modular, scalable, and chemical emission-free.
Svante's use of solid sorbents for capturing CO2 has been published in the journal, Science, in a research article titled "A Scalable Metal Organic Framework as a Durable Physi-sorbent for Carbon Dioxide Capture".
The scale-up of this new material from laboratory to commercial settings has proven Svante's technology economically viable and aligned with green chemistry principles. It's able to meet the specific needs of a variety of industrial sites including those for cement, pulp & paper, steel, lime, hydrogen, and more.
In June of this year, Svante held a ground-breaking event at its new world headquarters and manufacturing facility, the Centre of Excellence for Carbon Capture & Removal, in Burnaby, BC.
The event was marked by several speeches from members of the provincial and federal Canadian government, including Rahvi Kahlon, BC's Minister of Jobs, Economic Recovery and Innovation, who said, "Svante is a trailblazer in the fight against climate change and the transition to a carbon neutral economy."
The Centre of Excellence for Carbon Capture and Removal will be Canada's first-of-a-kind commercial-scale carbon capture and removal filter manufacturing facility, where Svante's patented filter modules will be produced for the capture of carbon dioxide emissions from the atmosphere and from industrial flue gas.
Svante says it is now in the midst of its Series E fundraising round. The company is expected to raise enough capital to enable it to bring its technology and manufacturing capacity to gigatonne scale.
Brett Henkel, Co-Founder and VP of Strategic Accounts & Government Affairs, Svante
Brett Henkel, Svante's Co-Founder and VP of Strategic Accounts & Government Affairs, started the company in his garage in 2007.
He commented, "I'm thrilled at how far we've come in this last 15 years. It's amazing to see our new headquarters being built and all our employees working together to tackle greenhouse gas emissions. It's a dream come true. We're going to make a big impact on the world."
Claude Letourneau, Svante's President & CEO said, "We've generated a pipeline of new project opportunities that will capture over 100 million tonnes of CO2 per year before 2030, and with the capital raised in the Series E round, we'll be able to manufacture enough filters to meet demand."
To learn more about Svante, visit www.svanteinc.com
Svante Executive Team (Pictured Above, Credit: Svante)
Since its founding, Svante has grown from 1 to nearly 200 employees, and has received extensive media attention and government funding due to its innovative, scalable, eco-friendly approach to point source carbon capture (capturing carbon dioxide from the source of emission before it reaches the atmosphere) and direct air capture (or DAC, in which carbon dioxide is captured directly from the atmosphere). In 2022, Svante was ranked second in the Corporate Knights' Future 50 Fastest Growing Sustainable Companies in Canada among private companies. It was also listed in the 2022 Global Cleantech 100 list of companies committed to climate commitments.
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