Carbon capture and storage specialist Svante has received $100m to accelerate the development and construction of its commercial carbon capture and removal projects in Canada and the US.
The funding commitment came from Canada Growth Fund (CGF) which has a mandate to invest in Canadian clean technology businesses that currently have technologies in the commercialisation stage.
Svante offers a solid sorbent carbon capture technology. Solid sorbents, particularly metal-organic frameworks (MOFs), are a step change for the carbon capture industry.
The company’s MOF captures CO2 from diluted flue gas streams with high-capacity and selectivity over water. It is said to capture 95% of the total CO2 emitted from industrial sources, adsorbing CO2 using direct low-pressure steam injection for regeneration.
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