The federal government’s $15-billion energy transition fund will give the Burnaby, B.C.-based firm US$50 million through a convertible note to “accelerate and de-risk” carbon capture projects currently underway, followed by a potential second US$50-million instalment. The CGF is managed by the Public Sector Pension Investment Board. (The Logic)

Talking point: Svante is one of Canada’s most prominent carbon capture technology companies, and raised US$318 million in a Series E round in December 2022 led by energy giant Chevron. It’s also backed by major Canadian oilsands players Cenovus and Suncor, as well as health-care and consumer goods conglomerate 3M. Svante is currently building a commercial-scale facility near Vancouver to manufacture its filters, which the CGF said are capable of capturing 10 million tonnes of CO2 annually. Earlier this year the company partnered with Climeworks, which will use Svante’s technology at three major carbon capture hubs the company plans to build in the U.S. with funding from the country’s Department of Energy.