Carbon Removal Leaders Deep Sky and Svante Partner to Study Carbon Storage Feasibility in Southern Quebec, Canada

VANCOUVER, British Columbia & MONTREAL--(BUSINESS WIRE)--Aug 17, 2023--

Canada’s leading carbon removal project developer, Deep Sky, has joined forces with carbon capture and removal solutions provider Svante Technologies Inc. (Svante) to evaluate the feasibility of sequestering CO 2 in Southern Quebec. Together, the companies will fund research to study the ability to capture, transport and store CO 2. The duo has engaged carbon management consulting firm Sproule to complete the geological subsurface research.

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Deep Sky is working to build large-scale carbon removal and storage infrastructure in Canada. As a project developer, the company is bringing together the most promising carbon dioxide removal technologies to commercialize solutions at scale. This news marks Deep Sky’s first partnership to evaluate the feasibility of permanent CO 2 storage in the St. Lawrence River Valley in Quebec to enable rapid and widespread roll-out of this essential climate solution.

Svante has pioneered novel carbon capture and removal technology, which employs what it calls structured adsorbent beds, known as ‘’filters.’’ The filters are coated with nanoengineered solid adsorbent materials and can be used to capture CO 2 from hard-to-abate industrial emissions that come from the production of pulp & paper, cement, hydrogen, and more. The technology can also be used for Direct Air Capture (DAC), in which CO 2, that is already in low concentration in the atmosphere, is trapped and removed from ambient air.

“Canada is on track to become the world leader in carbon removal. We believe that collaboration is needed amongst climate solution players to create meaningful change quickly,” said Fred Lalonde, Co-Founder of Deep Sky. “By combining Deep Sky’s project development expertise with Svante’s ready-to-deploy technology and Sproule’s geology research, we can drive down greenhouse gas emissions and deliver carbon credits to the market at hyper speed.”

‘’Carbon capture and removal is one of the key pillars of the energy transition 2.0. For DAC to succeed, it will be critical to find geographical locations that have substantial and safe storage potential, and that are able to provide abundant and affordable renewable energy. These sites must also be able to meet the specific climatic requirements of different technological solutions. We believe Quebec meets these criteria and is poised to become a leader in a new high-growth industry to deploy carbon management solutions. We can leverage the region’s vast renewables and hydroelectric energy needed to safely trap and store CO 2 in deep underground saline aquifers,’’ said Claude Letourneau, President & CEO of Svante.

Carbon dioxide removal technologies are essential to delivering the “net” in net zero. These CDR technologies will provide a balance to anthropogenic emissions that are hard to reduce as well as reverse the buildup of historic emissions that are already present in the atmosphere.

Flush with natural resources, Quebec is a region with an abundance of hydroelectric power, immense wind power potential and a vast territory with the ideal geological makeup required for carbon dioxide removal.

About Deep Sky:

Montreal-based Deep Sky is building the world’s first gigaton-scale carbon capture company, aiming to remove billions of tons of carbon from the atmosphere and permanently store it underground. Deep Sky brings together the most promising direct air and ocean carbon capture companies under one roof to bring the largest supply of high-quality carbon credits to the market and commercialize carbon removal and storage solutions like never before. For more information, visit: www.deepskyclimate.com.

About Svante:

Vancouver-based Svante manufactures in Canada solid sorbent-based filters and rotary contactor machines that capture large-scale CO 2 emissions from existing infrastructure, either for safe storage or to be used for further industrial use in a closed loop. With the ability to capture CO 2 from industrial sources as well directly from the atmosphere in an environmentally sustainable way, Svante makes industrial-scale carbon capture and removal a reality. Svante has attracted attention in the Carbon Management space over the last few months due to the closing of its record-breaking Series E fundraising round, which raised US$318 million, led by Chevron New Energies and followed by other large entities including Temasek, M&G Catalyst, GE Vernova, 3M Ventures (the venture arm of 3M), United Airlines Ventures, and more. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu. To learn more, visit www.svanteinc.com and follow us on LinkedIn or Twitter @svantesolutions.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230817708842/en/

CONTACT: Svante

Colleen Nitta

Director of Marketing & Communications

[email protected]

604-970-2813Deep Sky

Brooks Wallace

VP Communication & Marketing

[email protected]

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: ENVIRONMENT RESEARCH OTHER ENERGY ENVIRONMENTAL HEALTH ALTERNATIVE ENERGY SUSTAINABILITY GREEN TECHNOLOGY ENERGY SCIENCE

SOURCE: Svante Technologies Inc.

PUB: 08/17/2023 09:03 AM/DISC: 08/17/2023 09:03 AM

http://www.businesswire.com/news/home/20230817708842/en

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