VANCOUVER, British Columbia & OMAHA, Neb., January 16, 2025--(BUSINESS WIRE)--Svante Technologies Inc. (Svante), a leading innovator in carbon capture and removal technology, and Tenaska, a prominent CO2 transportation and sequestration service provider, have signed a Memorandum of Understanding (MOU) to collaborate on delivering cost-effective, integrated solutions for industrial carbon capture and storage (CCS). This collaboration represents a significant step toward addressing global industrial emissions and advancing the decarbonization of many industrial sectors, including pulp & paper, cement, steel, oil & gas, and more.
Under the terms of the non-exclusive MOU, Svante and Tenaska will combine their technology and services to provide end-to-end CCS value chain solutions to select customers. Svante’s cutting-edge solid sorbent-based carbon capture technology will facilitate efficient, environmentally responsible CO2 capture, while Tenaska will provide regional planning and infrastructure for CO2 transportation and storage. Tenaska is advancing a platform of mid- and early-stage projects in strategic locations across the United States, with Class VI permit applications filed for nearly 20 injection wells across multiple states.
Together, the companies aim to simplify the path to decarbonization for industrial emitters worldwide.
Key Objectives of the Collaboration:
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Integrated Carbon Management Solutions:
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Svante will focus on capturing CO2 emissions at industrial facilities, including related processes such as CO2 compression, conditioning, and liquefaction.
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Tenaska will manage CO2 transportation and sequestration, ensuring safe, secure, permanent storage deep underground.
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North America-wide Outreach and Customer Engagement:
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The joint initiative will actively promote carbon capture and storage to industrial emitters across North America, offering tailored solutions to meet diverse needs.
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Innovative Project Development:
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The collaboration will identify and assess commercially viable opportunities for CCS, leveraging the combined technical and operational expertise of both organizations.
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Leadership Quotes:
"This collaboration is well aligned with Svante’s mission to make carbon capture accessible for industries worldwide," said Matt Stevenson, Chief Revenue Officer of Svante. "By combining our technology with Tenaska’s extensive experience in CO2 transportation and storage, we can offer end-to-end solutions that accelerate the transition to a net-zero future."
"Recognizing the synergies with our CCS development platform, Tenaska is proud to work with Svante to advance innovative solutions for carbon management," said Bret Estep, Vice President, Tenaska Development. "Together, we aim to provide industrial customers with the tools and confidence to achieve their decarbonization goals."