The world is in the midst of a climate crisis, with atmospheric CO2 continuing to rise to unprecedented levels due to human activities – currently emitting CO2 at a rate that our natural ecosystems cannot absorb. Sustainable solutions and innovations are being developed to overhaul existing techniques or structures, but Canadian-based company, Svante, is working to deploy carbon management solutions that will enable a net zero emissions future.
Founded in 2007, Svante is a carbon capture and removal company. CEO, Claude Letourneau, explains the company’s purpose through its vision: “Developing what we call a ‘carbon marketplace’ in order to avoid the impact of humans on the climate.” He goes on to explain the real impact that carbon – as an integral part of the global economy – has on the environment. "We're using carbon to make steel, to make cement, and to build infrastructure. So, all of these products that we enjoy day in and day out, they all emit CO2 and it's very hard to avoid CO2 emissions and any of these products that we enjoy. So, we need to find a way to capture the CO2 and safely store it underground or use it to make other products in a circular economy."
To make this goal a reality, Svante has made use of its unique expertise to develop a “solid filter” that captures CO2 from a diluted stream. Using innovative nanomaterials, the company has created a powder that can be laid on thin film and stacked to create a unique filter that captures, concentrates, and releases large amounts of pure CO2 in under 60 seconds.
However, capturing carbon is not enough and Letourneau explains the next step. “The carbon dioxide is basically moved into a pipeline, most likely, and companies around the world now, are building CO2 storage hubs where they will put the CO2 underground, three kilometres underneath the surface into a water reservoir or water with salt, which we call a saline reservoir.” Svante is building capture plants fit for this purpose and Letourneau notes the number of such plants needed to effectively capture the CO2 currently being emitted in the atmosphere: 10,000 capture plants in the next 30 years, or two plants a week in the next decade, at a cost of about $300 million per plant
Such deployment and costs are not inconsiderable, but Letourneau believes that this target is achievable if certain goals are met. “We need three sectors to align: financial, public and private.” This means that industry players must develop the business models needed to store CO2 effectively, the financial market must become aware of the need for investment in this emerging industry, and regulators must enact policies that make such sustainable actions the best choice for all. In this context, even organisations commonly perceived as ‘the bad guys’ have a part to play, such as the fossil fuel companies. “They'd be very good at safely storing CO2. Remember, they take this fossil fuel from the ground and make products that we all enjoy. Taking that CO2 and putting it back where it came from is something that’s in their wheelhouse of expertise.”
Letourneau is a self-professed optimist, and that optimism is present across Svante’s operations. In the 15 years since its formation, the company’s technology and business model has been seen as a ‘’game-changer’’ across the carbon capture and storage value chain. The need for sustainable action has never been as clear as it is today and, through its carbon capture and removal ‘’picks and shovels’’ business model, Svante is proving that solutions exist to effectively decarbonise the world.
The world is in the midst of a climate crisis, with atmospheric CO2 continuing to rise to unprecedented levels due to human activities – currently emitting CO2 at a rate that our natural ecosystems cannot absorb. Sustainable solutions and innovations are being developed to overhaul existing techniques or structures, but Canadian-based company, Svante, is working to deploy carbon management solutions that will enable a net zero emissions future.
Founded in 2007, Svante is a carbon capture and removal company. CEO, Claude Letourneau, explains the company’s purpose through its vision: “Developing what we call a ‘carbon marketplace’ in order to avoid the impact of humans on the climate.” He goes on to explain the real impact that carbon – as an integral part of the global economy – has on the environment. "We're using carbon to make steel, to make cement, and to build infrastructure. So, all of these products that we enjoy day in and day out, they all emit CO2 and it's very hard to avoid CO2 emissions and any of these products that we enjoy. So, we need to find a way to capture the CO2 and safely store it underground or use it to make other products in a circular economy."
To make this goal a reality, Svante has made use of its unique expertise to develop a “solid filter” that captures CO2 from a diluted stream. Using innovative nanomaterials, the company has created a powder that can be laid on thin film and stacked to create a unique filter that captures, concentrates, and releases large amounts of pure CO2 in under 60 seconds.
However, capturing carbon is not enough and Letourneau explains the next step. “The carbon dioxide is basically moved into a pipeline, most likely, and companies around the world now, are building CO2 storage hubs where they will put the CO2 underground, three kilometres underneath the surface into a water reservoir or water with salt, which we call a saline reservoir.” Svante is building capture plants fit for this purpose and Letourneau notes the number of such plants needed to effectively capture the CO2 currently being emitted in the atmosphere: 10,000 capture plants in the next 30 years, or two plants a week in the next decade, at a cost of about $300 million per plant
Such deployment and costs are not inconsiderable, but Letourneau believes that this target is achievable if certain goals are met. “We need three sectors to align: financial, public and private.” This means that industry players must develop the business models needed to store CO2 effectively, the financial market must become aware of the need for investment in this emerging industry, and regulators must enact policies that make such sustainable actions the best choice for all. In this context, even organisations commonly perceived as ‘the bad guys’ have a part to play, such as the fossil fuel companies. “They'd be very good at safely storing CO2. Remember, they take this fossil fuel from the ground and make products that we all enjoy. Taking that CO2 and putting it back where it came from is something that’s in their wheelhouse of expertise.”
Letourneau is a self-professed optimist, and that optimism is present across Svante’s operations. In the 15 years since its formation, the company’s technology and business model has been seen as a ‘’game-changer’’ across the carbon capture and storage value chain. The need for sustainable action has never been as clear as it is today and, through its carbon capture and removal ‘’picks and shovels’’ business model, Svante is proving that solutions exist to effectively decarbonise the world.
The world is in the midst of a climate crisis, with atmospheric CO2 continuing to rise to unprecedented levels due to human activities – currently emitting CO2 at a rate that our natural ecosystems cannot absorb. Sustainable solutions and innovations are being developed to overhaul existing techniques or structures, but Canadian-based company, Svante, is working to deploy carbon management solutions that will enable a net zero emissions future.
Founded in 2007, Svante is a carbon capture and removal company. CEO, Claude Letourneau, explains the company’s purpose through its vision: “Developing what we call a ‘carbon marketplace’ in order to avoid the impact of humans on the climate.” He goes on to explain the real impact that carbon – as an integral part of the global economy – has on the environment. "We're using carbon to make steel, to make cement, and to build infrastructure. So, all of these products that we enjoy day in and day out, they all emit CO2 and it's very hard to avoid CO2 emissions and any of these products that we enjoy. So, we need to find a way to capture the CO2 and safely store it underground or use it to make other products in a circular economy."
To make this goal a reality, Svante has made use of its unique expertise to develop a “solid filter” that captures CO2 from a diluted stream. Using innovative nanomaterials, the company has created a powder that can be laid on thin film and stacked to create a unique filter that captures, concentrates, and releases large amounts of pure CO2 in under 60 seconds.
However, capturing carbon is not enough and Letourneau explains the next step. “The carbon dioxide is basically moved into a pipeline, most likely, and companies around the world now, are building CO2 storage hubs where they will put the CO2 underground, three kilometres underneath the surface into a water reservoir or water with salt, which we call a saline reservoir.” Svante is building capture plants fit for this purpose and Letourneau notes the number of such plants needed to effectively capture the CO2 currently being emitted in the atmosphere: 10,000 capture plants in the next 30 years, or two plants a week in the next decade, at a cost of about $300 million per plant
Such deployment and costs are not inconsiderable, but Letourneau believes that this target is achievable if certain goals are met. “We need three sectors to align: financial, public and private.” This means that industry players must develop the business models needed to store CO2 effectively, the financial market must become aware of the need for investment in this emerging industry, and regulators must enact policies that make such sustainable actions the best choice for all. In this context, even organisations commonly perceived as ‘the bad guys’ have a part to play, such as the fossil fuel companies. “They'd be very good at safely storing CO2. Remember, they take this fossil fuel from the ground and make products that we all enjoy. Taking that CO2 and putting it back where it came from is something that’s in their wheelhouse of expertise.”
Letourneau is a self-professed optimist, and that optimism is present across Svante’s operations. In the 15 years since its formation, the company’s technology and business model has been seen as a ‘’game-changer’’ across the carbon capture and storage value chain. The need for sustainable action has never been as clear as it is today and, through its carbon capture and removal ‘’picks and shovels’’ business model, Svante is proving that solutions exist to effectively decarbonise the world.
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