Svante

Canada-based Svante provides carbon capture solutions for industrial operations. Svante’s technological focus is on carbon absorbents; it believes that conventional adsorbents lack the sophistication and properties required for economical and scalable carbon capture. Svante claims that its patented “structured absorbents” are engineered to capture and release carbon dioxide in less than 60 seconds, compared to hours taken by conventional technologies. 

Key customers and partnerships

Svante expects to commercialize its technology by 2023. As of 2021, Svante was operating a pilot project in Saskatchewan, Canada, in partnership with the Canadian energy company Husky Energy, which captures nearly 10,000 tons of carbon dioxide per year. In 2019, Svante also entered into a partnership with Lafarge Canada (Canada’s largest building materials company) to develop a CCUS solution at its cement plant in British Columbia, Canada. The project is expected to be completed by 2023. In January 2020, Svante signed a joint development agreement (JDA) with Climeworks for DAC application.

In November 2021, Svante signed a memorandum of understanding (MOU) with Technip Energies, a French engineering and technology company, to improve its carbon capture technology and provide integrated solutions from concept to delivery. In December 2021, the company partnered with Kiewit Energy Group, an engineering and construction company, to develop carbon capture projects in the US and Canada. During the same month, Svante also collaborated with BASF for large-scale production of MOF sorbent materials for carbon capture. 

In April 2023, Svante signed an MoU with Pilot Energy Limited , an Australian oil and gas exploration and production company, to offer carbon capture and storage (CCS) solutions in Western Australia. In May 2023, Svante teamed up with Carbon America , a similar carbon capture startup to deploy commercial CCUS projects in the US. 

In August 2023, the company entered into a partnership with Deep Sky , a Canadian carbon removal project developer, to evaluate the feasibility of carbon sequestration in the St. Lawrence River Valley in Southern Quebec.

Funding and financials

Svante’s most recent funding round was in March 2023, when it raised USD 5 million from United Airlines as part of its Series E funding round. Previously in December 2022, the company raised USD 318 million in Series E funding led by Chevron New Engines. In July 2021, Svante received CAD 25 million (USD 20 million) from the Canadian government to support industrializing and commercializing its carbon capture technology in North America. The investment was made by the Net Zero Accelerator initiative of the Strategic Innovation Fund.  Before this, between February and March 2021, Svante raised USD 100 million in a Series D round led by Temasek and Suncor Energy. The proceeds were to be used to accelerate commercializing Svante’s carbon capture technology in North America and for the construction of its new global headquarters , The Centre of Excellence for Carbon Capture and Removal, in Burnaby, British Columbia.