Svante, a Canadian carbon capture startup, has launched the construction of its new global headquarters, The Centre of Excellence for Carbon Capture and Removal, in Burnaby, British Columbia.
The new headquarters is expected to be Canada’s first commercial-scale carbon capture and removal facility and will manufacture Svante’s patented filter modules to capture ~2,000 metric tons of carbon dioxide per day.
<ul><li> Analyst QuickTake: The new facility is being developed on the back of CAD 25 million (USD 20 million) in funding from the Canadian Government to support industrializing and commercializing Svante’s carbon capture technology in Canada. The proceeds from Svante’s USD 100 million Series D round between February and March 2021 are also likely to have been used to develop the facility.</ul>
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