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 Inc secures US$75m funding for carbon capture projects 03 February 2021
Svante Inc has announced that it has successfully closed US$75m 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, 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.
This US$75m of new financing provides the Svante with growth capital to advance a number of initiatives over the next three years, including work to support several commercial scale carbon capture facilities to address hard-to-abate emissions from industrial operations such as cement manufacturing.
Press release content from Business Wire. The AP news staff was not involved in its creation.
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.
Carbon Direct Makes First Investment in Svante Carbon Capture Company
Carbon Direct Makes First Investment in Svante Carbon Capture Company Carbon Direct Capital Management LLC announced that it has closed its first equity investment into Vancouver-based Svante Inc, a global carbon capture technology leader using proprietary solid structured adsorbent nano-filters to prevent climate-relevant amounts of CO
2 from going into our atmosphere or removing them from air. On February 2, 2021, Svante closed its USD $75 million Series D equity financing. Carbon Direct was a significant participant in the round, which was led by Temasek. Following the Series D financing, Jonathan Goldberg, the CEO of Carbon Direct, will join Svante’s board as an observer.