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Chevron leads $318M investment round for carbon capture company Svante as sector booms

Lisa Stifler of GeekWire reports that Chevron has led a $318 million funding round for Svante.

The C3 Take
  • Svante is a British Columbia-based company that develops large scale carbon capture solutions.
  • The company creates filters that are coated with nano-material solid adsorbents which trap CO2 that is released during industrial practices.
  • The carbon dioxide can then be used to make new products like lime, cement, or hydrogen.
  • Svante says the new funding will be used to build two commercial-sized carbon filter manufacturing facilities.

“Svante’s technology can also be used for ‘direct-air capture,’ which is pulling CO2 from the air that’s all around us — a trickier task than absorbing it from a concentrated source.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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