Chevron Technology Ventures (CTV) commissioned a pre-FEED examine that can discover the potential for trialing carbon-capture expertise in Chevron’s operations. The examine will consider the feasibility and design of a 10,000 ton per 12 months carbon seize unit from Svante Inc. in one in all Chevron’s California amenities, and is anticipated to be full within the first half of 2020.
“We are thrilled to be working alongside one in all our earliest buyers in the direction of an answer that can contribute to a low carbon future,” mentioned Claude Letourneau, president and CEO of Svante Inc. “We have an indication plant in Saskatchewan capturing 10,000 tons per 12 months from an industrial pure fuel steam boiler. This venture will take the learnings from our demonstration plant to design and construct an improved second-of-a-kind facility utilizing our state-of-the-art proprietary nano-filter expertise.’’
Chevron has been an lively supporter in growing carbon seize, utilization and storage applied sciences. CTV first invested in Svante in 2014.
“At Chevron, we imagine our business is well-positioned to assist commercialize carbon seize, utilization and storage applied sciences that can be important for the power transition,” mentioned Barbara Burger, president of Chevron Technology Ventures. “We have leveraged enterprise capital and trial capabilities, our expertise, and our operations to help the event of low carbon options.”
“Demonstrating this expertise within the discipline is a vital step in advancing a expertise in the direction of commercialization and scale,” Burger mentioned. “Commissioning this examine displays our dedication to advance breakthrough innovation that can be vital in a low carbon economic system and assist Chevron ship on our mission to supply and supply inexpensive, dependable and ever-cleaner power.”
CTV invested in Svante by Fund V, which helps early to mid-stage firms growing rising applied sciences which have the potential to enhance Chevron’s core enterprise. In 2018, CTV established a separate fund, the Future Energy Fund, to speculate solely in breakthrough applied sciences that allow the power transition. Chevron additionally participates within the Oil and Gas Climate Initiative’s (OGCI) $1 billion + funding fund, Climate Investments LLP. Climate Investments, which additionally invested in Svante, helps the event of applied sciences that can decrease the carbon footprints of the power and industrial sectors and their worth chains.
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Svante, a worldwide carbon seize expertise chief, provides firms in industries with hard-to-abate emissions a commercially viable technique to seize large-scale CO2 emissions from present infrastructure at half the capital value of conventional options.
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