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Svante, Cross River Collaborate to Develop Industrial-Scale Carbon Capture Projects
Monday 02 December 2019

2 December 2019 - Canada-based carbon capture technology provider Svante Inc. has agreed to collaborate with Connecticut, US-based waste-to-energy developer Cross River Infrastructure Partners LLC to develop commercial scale carbon capture projects the Permian Basin and western Canadian provinces, the company said.

Terms of the transaction were not disclosed.

Cross River will be responsible for project origination and financing for carbon capture and storage projects deploying Svante's proprietary technology, which is capable of capturing carbon directly from industrial sources at half the capital cost of existing solutions.

Cross River will implement facilities that deliver captured CO2 to end-users.

Svante's technology is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors.

With the development of new sustainable investment strategies, in combination with government policies such as the United States' 45Q tax credit to incentivise industry and traditional project financing, the financial sector is poised to support industrial scale carbon capture that will have a meaningful impact on the climate change.

Svante's cost advantage, combined with progressive tax credit policies, can make carbon capture profitable across a range of large-scale industrial applications to significantly cut emissions from hard-to-abate sectors.

When used in combination with direct air capture, Svante's source capture technology can result in net zero carbon emissions from currently emissions-intensive industries, while a single Svante plant can capture tons of carbon a year equal to eliminating the emissions generated by more than 200,000 cars.

Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be recycled for further industrial use in a closed loop.

With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality.

Cross River is a developer of sustainable infrastructure, developing and financing next-generation waste-to-energy and carbon-to-value projects in North America.
Date Published: 02/12/2019
Target: Cross River Infrastructure Partners
Country: USA
Sector: Waste Management/Environment
Type: Corporate acquisition
Status: Agreed
Buyer: Svante Inc.
Terms of the deal were not disclosed