GE and Svante Announce Collaboration to Develop Carbon Capture Technology for Power Generation
22 Marzo 2023 - 10:17AM
Business Wire
- GE and Svante will collaborate to develop and evaluate
innovative solid sorbent technologies for carbon capture from
natural gas power generation
- GE’s commitment to carbon capture includes Svante agreement and
internal investment to complement internal carbon management
research
- Svante is a leading solid sorbent-based carbon capture and
removal solutions provider based in Vancouver, BC, Canada
GE Gas Power, part of GE Vernova (NYSE: GE) and Svante today
announced a joint development agreement (JDA) to develop and
evaluate solid sorbent-based carbon capture technology for natural
gas power generation applications. In addition, GE has made an
equity investment in Svante as a part of Svante’s US $318-million
Series E fundraising round in December 2022.
In 2022, GE announced that GE Vernova would spin off from GE in
2024 as a business purpose-built to lead the energy transition.
This builds on GE’s sustainability commitments and position in the
energy industry, where GE technology provides approximately 30% of
the world’s electricity. GE is developing and commercializing a
number of breakthrough technologies to drive the energy transition
including carbon capture through industrial and technology research
collaborations, including the agreement with and investment in
Svante.
“The climate crisis and our world require immediate and
sustained action and investment into crucial technologies like
carbon capture which can deliver meaningful reductions in emissions
and play a key role in the energy transition,” said Scott Strazik,
CEO of GE Vernova. “We are excited to work with a technology
innovator like Svante to drive collective progress on developing
carbon capture solutions for the energy industry aiming to deliver
more sustainable, affordable, and reliable electricity for more
people.”
“We are pleased to welcome GE both as a strategic commercial
collaborator and an investor in Svante, alongside our other
strategic value chain partners and investors,” said Claude
Letourneau, Svante’s President and CEO. “GE’s 130+ years of
experience in energy applications will be invaluable to us as we
rapidly scale our operations and manufacturing capacity to be able
to capture millions of tonnes of CO2 from diverse industrial sites
around the world.”
Svante’s novel carbon capture filters are made by coating solid
adsorbents, including metal-organic frameworks (MOFs), onto thin
sheets of laminate that are stacked to become the company’s
nano-engineered filters. These filters can be used in multiple
applications for capturing CO2 at refineries, cement, steel,
aluminum, lime, boilers, pulp & paper, and more. The technology
can be used for point-source post-combustion carbon capture in
which the filters take CO2 out of industrial flue gas (the source
of the emission) and prevent it from reaching the atmosphere.
Because of the wide array of industries the company serves,
Letourneau says Svante's technology can be applied to 85% of the
total carbon capture and removal segment.
The JDA between GE Gas Power and Svante will focus on further
development and commercialization of novel solid sorbent
technologies “aimed at decarbonizing natural gas-fired turbines in
a cost-effective, environmentally responsible manner,” said
Letourneau. “We are excited about the potential we have to open up
an entirely new array of opportunities, aiming to provide
carbon-free electricity in the future through the deployment of
projects across gas-fired power generation facilities."
About GE Gas Power
GE Gas Power is an integral part of the GE Vernova, a world
leader in natural gas power technology, services, and solutions.
Through relentless innovation and continuous collaboration with our
customers, we are providing more advanced, cleaner, and efficient
power that people depend on today and building the energy
technologies of the future. With the world’s largest installed base
of gas turbines and more than 670 million operating hours across
GE’s installed fleet, we offer advanced technology and a level of
experience that’s unmatched in the industry to build, operate, and
maintain leading gas power plants. For more information, please
visit www.ge.com/power/gas and follow GE’s gas power businesses on
Twitter and LinkedIn.
GE Vernova, a dynamic accelerator comprised of our Power,
Renewable Energy, Digital and Energy Financial Services businesses,
focused on supporting customers’ transformations during the global
energy transition.
About Svante
Svante offers companies in emission-intensive industries a
commercially viable way to capture large-scale CO2 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 CO2 from industrial sources and directly from the
atmosphere in an environmentally sustainable way, Svante makes
industrial-scale carbon capture and removal a reality. The company
is on the 2023 Global Cleantech 100, and was ranked second among
private companies in the Corporate Knights Future 50
Fastest-Growing Sustainable Companies in Canada. Svante’s Board of
Directors includes Nobel Laureate and former Secretary of Energy,
Steven Chu. To learn more about Svante, click here or visit
Svante’s website at www.svanteinc.com, or follow Svante on LinkedIn
or Twitter @svantesolutions.
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version on businesswire.com: https://www.businesswire.com/news/home/20230322005596/en/
Media Contacts Adam Tucker Director of External
Communications GE Gas Power +1 (518) 227 2463
adam.tucker@ge.com
Colleen Nitta Director, Marketing & Communications Svante +1
(604) 970-2813 cnitta@svanteinc.com
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