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Japan Energy Fund invests in Svante, an innovative carbon capture and removal company for hard-to-abate industries

London, 19 December 2022 — Japan Energy Fund has invested in Svante through its Decarbonized Tech Fund managed by Japan Energy Capital. 

Svante, a Canadian company, was founded with the goal to make carbon capture solutions for hard-to-abate industries. They offer non-intrusive end-of-the-pipe solutions for existing industrial infrastructure to deliver pipeline-ready CO2 for safe storage at the giga-tonne (GT) scale.

This 318 million USD Series E funding round is led by Chevron, with participation from existing investors including OGCI and Temasek as well as new investors including our own Japan Energy Fund. The raised funds will be used to accelerate the manufacturing of Svante’s carbon capture technology. 


(Image Source: Svante)


To reach net zero, we will need a wealth of solutions to help decarbonize our current industries, ranging from electric vehicles to innovative ways of capturing and storing carbon. In Japan, the Ministry of Economy, Trade, and Industry (METI) has set a target to advance technological development on a highly efficient CO2 recovery method, realize low cost, and aim for practical use in 2050, particularly from direct air capture (DAC).* To reach this goal, significant investment is needed to ensure the technology is scalable and viable. Svante’s carbon capture and removal technology presents strong future growth prospects, as well as the ability to capture CO2 on a large scale with reduced investment – all key for oil and gas companies looking to move to the net zero future. Svante was also recognized as one of the Honorees of ENECHANGE Insight Ventures in 2021, ENECHANGE’s affiliated venture program. 

* ‘Green Growth Strategy Through Achieving Carbon Neutrality in 2050’ (English version), METI,

About Svante’s carbon capture technology 

Since its founding in 2007, Svante has developed carbon capture and removal technology using structured adsorbent beds, known as filters. The size and cost of installing carbon capture technology have been a barrier to industry adoption. Svante’s modular solid sorbent technology is designed to capture CO2 from industrial flue gas. It then concentrates it into a high-purity, 95-percent pipeline-grade CO2 to prepare it for storage or further industrial use. Its approach is tailored specifically to the challenges of separating CO2 from nitrogen in diluted flue gas, which is typically emitted at low pressures, and in diluted concentrations. Svante’s technology is targeted toward industrial decarbonization activities in fields including hydrogen, pulp and paper, lime, cement, steel, aluminum, and chemicals. Svante’s filters are also available for direct air capture and carbon dioxide removal.


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 carbon removal a reality. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu.



Yohei Kiguchi, Founder and CEO of Japan Energy Fund and ENECHANGE Ltd.
We are very excited to announce our investment in Svante, and to see them develop even further since our initial connection through ENECHANGE Insight Ventures. With the need to decarbonize the atmosphere as quickly as possible, Svante offers a real solution to help us get there quicker. Considering the Japanese government’s commitment to reaching net zero by 2050, we are confident that Svante’s carbon capture technology will be able to revolutionize hard-to-abate industries in Japan as well. 

Claude Letourneau, President and CEO of Svante

I am thrilled to welcome Japan Energy Fund as an investor in Svante. We intend to leverage the JEF network across Japan to partner and expand to the Japanese market and to accelerate the deployment of our products worldwide to help decarbonize our society.

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