Carbon capture and removal technology provider Svante and 3M announced today a new partnership, to work together towards developing material that can trap CO2 for use in carbon removal solutions.
The partnership comes not long after 3M’s venture capital arm, 3M Ventures, took part in Svante’s $318 million Series E fundraising round.
Ray Eby, president of 3M’s Personal Safety Division, said:
“3M is committed to helping build a low-carbon economy. We are driven by a need to solve the world’s most pressing challenges, and our partnership with Svante to create innovative climate solutions is an exciting prospect for us.”
Carbon removal is emerging as a key tool in the fight to address climate change, although most technologies and solutions to capture and store carbon from the atmosphere remain at fairly early stages. According to the landmark IPCC climate change mitigation study released last year, scenarios that limit warming to 1.5°C include carbon dioxide removal (CDR) methods scaling to billions of tons of removal annually over the coming decades.
Founded in 2007, Burnaby, British Columbia-based Svante provides structured adsorbent beds – or filters – and modular rotary contactor machines that capture and remove CO2 from industrial emissions, aimed at enabling emissions intensive industries to capture large-scale emissions from existing infrastructure. The company’s solutions are targeted at industrial decarbonization activities in areas such as hydrogen, pulp and paper, lime, cement, steel, aluminum, and chemicals, and the technology can also be used for Direct Air Capture (DAC) solutions.
The companies have entered into a joint development agreement (JDA) that centers around solutions that use parallel channel structured adsorbent technology. These solutions are intended for the carbon dioxide removal (CDR) industry, aiming to provide effective and efficient means of removing carbon dioxide from the environment.
Claude Letourneau, President and CEO, Svante, said:
“3M’s 120+ years of expertise in producing materials science-based solutions at scale is unparalleled and will aid us in our efforts to capture millions of tonnes of CO2 from diverse sites around the world.”