Carbon Capture firm gets 25m from Feds

Carbon Capture firm gets 25m from Feds

Svante Inc, a BC company just received an investment from the Federal government for $25 million. The company specializes in capturing carbon from cement, steel and other manufacturers.

The Industry Minister  said the money will be taken from the $8 billion net zero strategic innovation fund, who`s aim it is to decarbonize Canada`s industrial sector. A government source commented, they are already producing this technology, and this investment will “help them scale up the commercialization of it and allow for production at a much larger scale”

Carbon An artists impression of what Carbon Engineering’s ambitious direct air capture project would look like when completed. Photograph: Carbon Engineering –

As Bill Gates, pointed out in his book. “How to Avoid a climate Disaster” Making things comprises 31% of emissions, so we at Ecorite think this investment is a good one.

Taken from National Post July 7, 2021