Svante Inc. and Climeworks AG announced an agreement to collaborate on the development of carbon capture technology
The Agreement will enable Svante’s and Climeworks’ respective carbon capture solutions to be scaled up faster
New collaboration will drive forward carbon capture technology solutions
Global carbon capture technology leaders, Svante Inc. (formerly Inventys Inc.) and Climeworks AG, today announced an agreement to collaborate on the development of carbon capture technology solutions to enable customers transition to a net-zero emissions future. Both companies share the goal of preventing climate-relevant amounts of CO₂ from going into our atmosphere or removing them from air.
Today’s Joint Development Agreement (JDA) will enable Svante’s and Climeworks’ respective carbon capture technology solutions to be scaled-up faster and effect a transition to a net-zero-emissions future sooner. The combination of Climeworks’ revolutionary DAC solutions with Svante’s source capture technology will support further development of climate-positive carbon solutions for both carbon removal and industries with unavoidable emissions.
Will Climeworks & Svante remain financially independent?
Yes. Climeworks will not invest in Svante, or vice versa.
Why the collaboration?
Climeworks strives for fast innovation cycles and this collaboration will contribute to moving us down our cost reduction roadmap. Svante wishes to supply net zero solutions for unavoidable emissions, to which Climeworks will contribute.
Is Climeworks now doing point source capture?
No. Climeworks’ business remains direct air capture only.