Title:
Industrialization of novel carbon capture process for massmarket ready production in Canada.
Agreement Value:
$25,000,000.00
Agreement Date:
Nov 2, 2021 - Mar 31, 2042
Description:
This project aims to build a manufacturing plant in Burnaby to increase production capacity to manufacture Structured Adsorbent Beds (SABs) and Rotary Adsorption Machines (RAMs) to help Svante's customers capture at least 2,000 tonnes of carbon each day.
Organization:
Innovation, Science and Economic Development Canada
Expected Results:
This investment would anchor the firm's manufacturing facilities in Canada. The project will result in economic and public benefits, including new job opportunities, job retention, co-op placements, and substantial investment in research and development.
Location:
Burnaby, British Columbia, CA V5J0B6
Reference Number:
033-2021-2022-Q3-815765
Agreement Type:
Contribution
Report Type:
Grants and Contributions
Recipient Business Number:
838943215
Recipient Type:
For-profit organization
Additional Information:
The amendment has been completed to extend the agreement end date to March 31, 2042, from March 31, 2041.
Amendment Date
Feb 6, 2025
Recipient's Operating Name:
Svante Technologies Inc.
Recipient's Legal Name:
Svante Technologies Inc.
Federal Riding Name:
Burnaby South
Federal Riding Number:
59003
Program:
SIF Stream2- Growth
Program Purpose:
-Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services;-Facilitate the growth and expansion of firms in Canada;-Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.