Could you introduce us to what Svante does as well as to the industry it belongs to?
Svante is a climate technology company focused on reducing current levels of CO2 in the atmosphere. With our unique filter technology we prevent CO2 from going into the atmosphere (carbon capture) and equally remove CO2 that has been emitted into the air (carbon removal).
We named the company after the Swedish scientist, Svante Arrhenius, who in 1896, was the first to establish the link between CO2 going into the atmosphere and the increasing temperature of the planet. We are like the Tesla of carbon capture.
The industry of Carbon Capture, Utilization, and Storage (CCUS) or Carbon Management is facing significant growth as it seeks to unlock the pathway to net zero – a commitment entailing a $120-trillion capital investment. By 2030, the world must develop the climate technology necessary to meet our net-zero objective at an exponential scale. Accordingly, CCUS must grow by 100x in order to make its necessary contribution to reaching that objective. So, at Svante, we see ourselves as a transition tool. Out of the $120 trillion capital investment needed in the energy transition – for renewables, electrification of vehicles, and the like, only $2 trillion will be required for capturing CO2, which, in turn, should actually capture 20% of the total CO2 that’s in the atmosphere (around 10 giga tons or 10 billion tons). When you do the math, the world needs to deploy 10,000 carbon capture plants over the next 30 years – that is a daunting prospect.