Burnaby’s Svante has secured an investment of up to $137 million from the Canada Growth Fund to accelerate the company’s development and construction of commercial-scale carbon capture and removal projects. The clean tech company manufactures filters and carbon capture machines for heavy-emitting industries such as cement, steel, hydrogen, and oil and gas. The government says the investment will ensure local intellectual property remains Canadian-owned (Svante owns over 120 global patents).
“By investing in cutting-edge Canadian innovators, we are decarbonizing industries and making energy more affordable, while reducing emissions and creating good-paying jobs,” stated federal finance minister Chrystia Freeland.
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