“We are proud that Chevron and a group of existing and new strategic and financial investors have demonstrated their confidence in Svante to be a key player in building a commercially viable carbon management industry,” said Claude Letourneau, President and CEO of Svante. This funding will support Svante’s commercial-scale filter manufacturing facility in Vancouver, which is anticipated to produce enough filter modules to capture millions of tonnes of carbon dioxide (CO 2) per year across hundreds of large-scale carbon capture and storage facilities. ![]() Since its founding in 2007, Svante has developed carbon capture and removal technology using structured adsorbent beds, known as filters. “Innovation is key to enabling these types of breakthrough technologies and lower carbon solutions, and we look forward to applying our experience and expertise to help drive this effort forward.” “We are advancing a full value chain carbon capture, utilization, and storage (CCUS) business and believe Svante is poised to be a leader in enabling carbon capture solutions,” said Chris Powers, vice president of CCUS with CNE. Inc., and Svante announced that Chevron is the lead investor in Svante’s Series E fundraising round, which raised $318 million that will be used to accelerate the manufacturing of Svante’s carbon capture technology. ![]() ![]() 15, 2022 – Chevron New Energies (CNE), a division of Chevron U.S.A.
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