Suncor Energy invests in carbon capture technology company Svante – Digitalmunition




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Published on March 19th, 2021 📆 | 2030 Views ⚑

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Suncor Energy invests in carbon capture technology company Svante

  • Svante Series D Funding boosted to $100 Million
  • Additional $25M Funding brings Suncor Energy as new strategic investor

VANCOUVER, British Columbia and CALGARY, Alberta, March 18, 2021 (GLOBE NEWSWIRE) — Suncor and Svante Inc. today announced an equity financing agreement which provides Svante with the additional
growth capital to accelerate the commercialization of Svante’s novel second generation CO2 capture technology in North America for the decarbonization of industrial emissions and
hydrogen production.

Combined, Suncor and a number of family office investors have invested $25 million USD of equity financing, bringing the total proceeds raised under Svante’s Series D financing to $100 million USD,
up from $75 million as announced on February 2nd, 2021, and completing the largest single private investment into point source carbon capture technology globally to date.

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