Government makes major investment in one of Canada’s leading clean technology firms

From: Innovation, Science and Economic Development Canada

News release

Investment in carbon capture technology will help Canada’s heavy industrial emitters significantly cut down emissions

July 7, 2021 – Burnaby, British Colombia

The Government of Canada is working toward a green and sustainable economic recovery that will create well‑paying jobs across the country for the long term. Canadian companies and innovators are leading in the growing market for clean technologies, which will help us meet our ambitious climate goals and build a more resilient economy.

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced a $25-million investment in Svante Inc. to support its $97.22-million project to develop and commercialize its novel low-cost carbon capture technology that will prevent significant release of carbon dioxide (CO2) into the atmosphere from industrial sites like cement and blue hydrogen plants. By using nano materials called “solid sorbent,” this innovative industrial point­–source carbon capture technology will collect CO2, concentrate it, and release it for safe storage or industrial use.

This project will help the Burnaby-based company to manufacture its proprietary solid filter and machine products at a commercial scale. Svante is planning to manufacture systems with the ability to capture up to 2,000 tonnes of CO2 per day, depending on the application. Its technology could be applied to reduce emissions in many industrial processes where abatement remains challenging and costly in the foreseeable term, including oil and gas and hydrogen. This technology is already in use today, through ongoing pilot projects with Lafarge Holcim and Total S.A. (Richmond, British Columbia) and Husky Energy (Lloydminster, Saskatchewan). This  technology is one of the tools that will help achieve Canada’s goal of net zero by 2050, especially for heavy emitting industries that continue to produce goods Canadians use every day.

Svante Inc. will also develop a new centre of excellence for carbon capture, use and storage (CCUS) in Burnaby, B.C., that will allow it to scale up its manufacturing operations to produce commercial‑scale structured adsorbent filters and to test its proprietary rapid adsorption machine (RAM). These are capable of capturing up to 2,000 tonnes of CO2  per day, equivalent to what a 10 km2 forest captures in a year—more than twice the size of Stanley Park.

With this investment, Svante Inc. will create 53 jobs, maintain 72 jobs, provide 124 co-op positions and invest a minimum of $205 million in research and development.

This investment is made through the Strategic Innovation Fund’s Net Zero Accelerator initiative and aligns with A Healthy Environment and a Healthy Economy, the Government of Canada’s strengthened climate plan that will help Canada achieve its economic and environmental goals.

Quotes

“We are keen to partner with Canadian companies like Svante that are creating clean technologies that will help key industries around the world, including in Canada, significantly cut down their greenhouse gas emissions. This project will create good jobs in Burnaby and Vancouver in clean technologies, and it will grow Canada’s leadership in this increasingly important sector of our economy.”
- The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

“Vancouver is the Silicon Valley of carbon capture technology development, and we are very proud to anchor our world headquarters, R&D and engineering test centre, and first commercial filter manufacturing plant in Canada.”
- Claude Letourneau, President and CEO, Svante Inc.

Quick facts

  • Clean technologies offer significant benefits to Canadians, from reducing electricity costs to improving air quality to employing more than 211,000 people across the country. These technologies also contribute to reducing our environmental impacts while helping Canada meet its climate change goals.

  • Carbon capture is a technology that can capture up to 95% of the carbon dioxide (CO2) emissions produced from the use of fossil fuels in electricity generation and industrial processes, preventing the carbon dioxide from entering the atmosphere.

  • Clean technologies contributed more than $28.8 billion to the Canadian economy in 2019, including the export of approximately $7.05 billion worth of clean technology goods and services.

  • Svante Inc. is expected to be the first industrial point–source carbon capture technology manufacturer using solid sorbents to expand its manufacturing supply chain at commercial scale within the North American market.

  • Svante Inc. is on the Global Cleantech 100 list for 2021 and 2020.

  • This investment is a $25 million repayable contribution from the Net-Zero Accelerator Fund, some of which is conditionally non-repayable.

  • Recently, the Government of Canada announced an investment of $420 million over four years in Algoma Steel Inc., through the Strategic Innovation Fund’s Net Zero Accelerator initiative and from Canada Infrastructure Bank. The government is investing $8 billion over seven years to accelerate decarbonization projects with large GHG emitters, the transition to clean technologies, and Canada’s industrial transformation across all sectors.

Associated links

Contacts

John Power
Senior Manager, Communications and Media Relations
Office of the Minister of Innovation, Science and Industry
john.power@canada.ca

Media Relations
Innovation, Science and Economic Development Canada
ic.mediarelations-mediasrelations.ic@canada.ca

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