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The company has announced that it has successfully closed US$75 million of Series D equity financing, the largest private investment into point source carbon capture globally to date.
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Svante Raises $75 Million to Decarbonize Cement and Hydrogen Production
February 2, 2021 GMT
Svante Raises $75 Million to Decarbonize Cement and Hydrogen Production (Photo: Business Wire)
VANCOUVER, British Columbia (BUSINESS WIRE) Feb 2, 2021
Svante Inc. announced that it has successfully closed USD $75 million of Series D equity financing, the largest private investment into point source carbon capture globally to date. The financing was led by Temasek and includes strategic investors Chart Industries (’’Chart”) (NYSE: GTLS), Carbon Direct and Export Development Canada (EDC). Existing investors OGCI Climate Investments, BDC Cleantech Practice, Chevron Technology Ventures, The Roda Group and Chrysalix Venture Capital also participated in the round, reflecting strong on-going support for the Company, including its market strategy and recent progress.
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Sovereign wealth funds are pouring cash into clean tech investments, a move that could provide the funding needed to accelerate the development of green technologies to combat climate change.
Managing more than $9 trillion of capital globally, sovereign wealth funds (SWFs) from China, Singapore, the Middle East, and Norway are ratcheting up their interest in the clean tech sector to tap into the global shift towards energy efficiency and lower carbon emissions.
“Sovereign Wealth Funds are spending a lot more time and money on the whole ESG impact and sustainability space. That’s a huge trend,” Makram Azar, founder and CEO of private-investment and advisory group Full Circle Capital, said.