• $100M Investment: Canada Growth Fund (CGF) invests up to $100 million in Svante to accelerate carbon capture technology development.
• Focus on Canadian Innovation: The investment supports Svante’s Canadian projects, protecting Canadian IP and scaling technology for global impact.
• Two-Phase Funding: Initial $50M tranche to de-risk current projects, with an additional $50M for future project-specific needs.

Canada Growth Fund (CGF) is committing up to $100 million to Svante Technologies Inc., a leader in carbon capture solutions, to fast-track the development and deployment of their innovative technologies in Canada and the U.S.

CGF, with a mandate to bolster Canadian clean tech, is providing this investment to enhance Svante’s efforts in reducing emissions in challenging sectors. “CGF is working to accelerate the deployment of key Canadian carbon capture technologies and scale the manufacturing and export of promising solutions to showcase Canadian technologies internationally,” said Patrick Charbonneau, President and CEO of CGF Investment Management.

The investment will be made in two phases. An initial $50 million will be allocated to accelerate first-of-a-kind (FOAK) commercial projects currently in progress. A second $50 million tranche is contingent on project-specific requirements to support further development and construction.

Svante’s CEO, Claude Letourneau, emphasized the transformative impact of CGF’s support: “We are delighted with this investment by CGF. This new offering bridges the gap for our customers as it enables them to reach final investment decision.“

This funding complements the $145 million already invested in Svante’s new manufacturing facility in Vancouver. The 141,000 sq. ft. facility will produce filters capable of capturing 10 million tonnes of CO₂ annually, solidifying Canada’s position as a global leader in carbon capture technology.

Related Article: Canada Growth Fund Announces $2 Billion Carbon Capture Partnership with Strathcona Resources

CGF’s backing aligns with its mission to advance Canadian innovation while safeguarding intellectual property and jobs. This partnership marks CGF’s first venture in British Columbia, diversifying its investment portfolio and supporting local employment.

The global market for carbon capture and sequestration is expanding rapidly, driven by favorable regulations in Canada, the U.S., and Europe. With CGF’s investment, Svante is well-positioned to meet the rising demand for emissions reduction technologies, significantly contributing to global efforts to combat climate change.