- Svante Technologies Inc., a carbon capture and removal solutions provider based in British Columbia, announced a strategic investment from InBC Investment Corp.
- InBC invested CDN$15 million to support the acceleration of Svante's carbon capture projects both domestically and internationally.
- The investment will leverage Svante's Canadian intellectual property and manufacturing capabilities.
- Svante employs over 300 professionals and is building a 141,000-square-foot facility in Burnaby, BC, to manufacture filters that capture 10 million tonnes of CO2 annually.
- This new facility will serve as Svante's global headquarters and research and development center.
- Claude Letourneau, President and CEO of Svante, expressed delight at InBC's investment, complementing previous investments totaling CDN$800 million over the past decade.
- There is a growing market for carbon capture driven by regulations in Canada, the USA, and Europe due to rising demand for emissions reduction technologies.
- Leah Nguyen, Chief Investment Officer of InBC, stated that the investment supports innovation, job creation, and retains intellectual property in British Columbia.
- Svante manufactures eco-friendly nanoengineered filters and modular rotary contactor machines for CO2 capture from industrial emissions.
- The company is recognized on the 2024 Global Cleantech 100 and ranks among the top in sustainable growth companies.
- InBC Investment Corp., created with $500 million by the Province of British Columbia, focuses on investing in companies for financial profit and social and environmental impacts.
BC-based Climate Tech Company, Svante Announces Strategic Investment from InBC
November 26, 2024
press releaseVANCOUVER, BC, CANADA, November 26, 2024
Svante Technologies Inc. (“Svante”), a leading global carbon capture and removal solutions provider headquartered in British Columbia, Canada, has announced an investment from InBC Investment Corp. (“InBC”), a strategic investment fund created by the Province of British Columbia. InBC has invested following on an investment by Canada Growth Fund (“CGF”), committing CDN$15 million to accelerate the delivery of carbon capture and removal projects domestically and internationally, leveraging Svante’s Canadian intellectual property (IP) and manufacturing capabilities.
InBC invests in growing companies to benefit British Columbia. Svante is a world-leading solutions provider of carbon capture and removal technology for the nascent carbon management industry, with significant potential to accelerate emissions reductions in affordable-to-abate industrial sectors worldwide. Svante employs more than 300 highly skilled professionals and technicians and is constructing a 141,000-square-foot facility in Burnaby, BC, Canada, which will manufacture nanoengineered filters capable of capturing 10 million tonnes of carbon dioxide (CO2) annually. This facility also serves as the company’s global headquarters and research and development center.
Claude Letourneau, Svante’s President and CEO, said: “We are delighted with this investment by InBC, which complements the CDN$800 million capital investment made in our company over the last decade by global corporate venture and private equity investors.’’
The carbon capture and removal markets are expanding, driven by supportive regulations in Canada, the USA and Europe. This reflects a rising demand for emissions reduction and removal technologies across sectors including pulp and paper, cement, hydrogen and more.
“InBC’s investment in Svante is supporting a leading BC-based cleantech company in a strategic growth sector, driving innovation, creating jobs, increasing research and development and retaining intellectual property in the province, Svante has a tremendous market opportunity, globally and here at home, and we look forward to supporting the company in its growth as it drives measurable climate action across industries.”
Leah Nguyen
Chief Investment Officer of InBC
About Svante
Svante is a purpose-driven, leading carbon capture and removal solutions provider. The Vancouver, Canada-based company manufactures nanoengineered filters and modular rotary contactor machines that capture and remove CO2 from industrial emissions and the air in an environmentally responsible manner. Svante is on the 2024 Global Cleantech 100, the XPRIZE Foundation’s XB100 – World’s Top 100 Deep Tech Companies and was ranked second among private companies in the Corporate Knights’ Future 50 Fastest Growing Sustainable Companies.
For more information, visit
www.svanteinc.com and follow Svante on LinkedIn at
www.linkedin.com/svantesolutions.
Svante Media Relations
Colleen Nitta
Director, Marketing & Communications
cnitta@svanteinc.com+1-604-970-2813
About InBC
InBC Investment Corp. is a strategic investment fund created by the Province of British Columbia with $500 million to invest in growing companies and venture funds to benefit British Columbia. It has a triple bottom line mandate to invest for financial profit as well as social and environmental impacts. It is currently investing in growing, innovative companies looking for an equity investment. Learn more about InBC:
www.inbcinvestment.ca InBC Media Relations
Eva Zhu
Marketing & Communication Specialist
media@inbcinvestment.ca+1-604-367-5395
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