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Svante Closes $10 Million Financing from Husky for Heavy Oil CO₂ Capture Technology

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Burnaby, B.C.-based Svante (formerly Inventys Thermal Technologies) is moving forward with a 30-tonne per day pilot plant to capture CO2 at a Husky Energy steam generator for enhanced oil recovery after closing a $10 million equity financing led by the oil producer.

Svante’s next-gen CO2 capture technology will be deployed at Husky’s Pikes Peak South Lloyd thermal project near Lloydminster, Saskatchewan. The low-cost CO2-supply it provides will be used to enhance recovery of heavy oil from adjacent assets.

“This is the world’s first pilot-scale plant using structured adsorbents to capture CO2 from a once-through steam generator for use in heavy oil recovery,” Claude Letourneau, Svante’s president and chief executive officer, said in a statement.

“Canada offers the perfect setting to prove our second generation carbon capture technology, reduce carbon emissions, uphold Canada’s climate goals, create jobs and support industrial growth.”


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