Svante

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Chevron invests in carbon capture and removal technology company, Svante

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Chevron, Svante, 3M


Chevron New Energies (CNE), a division of Chevron U.S.A. Inc., and Svante announced that Chevron is the lead investor in Svante’s Series E fundraising round, which raised $318 million that will be used to accelerate the manufacturing of Svante’s carbon capture technology.

Since its founding in 2007, Svante has developed carbon capture and removal technology using structured adsorbent beds, known as filters. This funding will support Svante’s commercial-scale filter manufacturing facility in Vancouver, which is anticipated to produce enough filter modules to capture millions of tonnes of carbon dioxide (CO2) per year across hundreds of large-scale carbon capture and storage facilities.

Read more at Chevron Newsroom