The Government of Canada is aiming to achieve a green and long-term economic recovery that will result in the creation of well-paying employment across the country.
Canadian businesses and inventors are leading the charge in the increasing market for clean technologies, which will help us achieve our ambitious climate goals while also bolstering our economy’s resilience.
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced today a $25 million investment in Svante Inc. to support the company’s $97.22 million project to develop and commercialize its novel low-cost carbon capture technology, which will prevent significant CO2 emissions from industrial sites such as cement and blue hydrogen plants. This novel industrial point–source carbon capture device collects CO2, concentrates it, and releases it for safe storage or industrial usage utilizing nanomaterials known as “solid sorbent.”
This project will assist the Burnaby-based company in commercializing its innovative solid filter and machine solutions. Depending on the application, Svante plans to produce systems that can capture up to 2,000 tonnes of CO2 each day. Its method might be used to reduce pollutants in a variety of industrial processes, including oil and gas and hydrogen, where abatement is difficult and expensive in the short run. Through current pilot projects with Lafarge Holcim and Total S.A. (Richmond, British Columbia) and Husky Energy, this technology is already in use (Lloydminster, Saskatchewan). This technology is one of the tools that will help Canada accomplish its net-zero objective by 2050, particularly for heavy emitting companies that continue to create commodities that Canadians need on a daily basis.
Svante Inc. will also establish a new carbon capture, use, and storage (CCUS) centre of excellence in Burnaby, B.C., which will allow the company to scale up its manufacturing operations to build commercial–scale structured adsorbent filters and test its unique rapid adsorption equipment (RAM). These can absorb up to 2,000 tonnes of CO2 each day, which is the equivalent of a 10 km2 forest absorbing CO2 for a year—more than double the size of Stanley Park.
Svante Inc. will generate 53 employment, sustain 72 jobs, provide 124 co-op positions, and invest a minimum of $205 million in research and development as a result of this investment.