Svante Technologies Inc. secures up to $100 million, including $50 million via convertible note from Canada's green technology fund, to commercialize carbon-capture technology.
PRIVATEAug 15, 2024
Amount Raised
$100 Million
Round Type
Convertible Note
BurnabyOtherEnergyOil And GasGovernment
Investors
Chevron CorpCanada Growth Fund
Description
Canada’s Canada Growth Fund is investing as much as $100 million into Svante Technologies Inc. through a convertible note, with an initial $50 million committed. The funding will support the firm's efforts to commercialize its carbon-capture technology designed to filter and concentrate carbon dioxide from the air.
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Company Information
Company
Svante
Location
Burnaby, British Columbia, Canada
About
Svante offers companies in emission-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. 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 carbon removal a reality. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu. To learn more about Svante, click here or visit www.svanteinc.com.
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BurnabyOtherEnergyOil And GasGovernment