3M and Svante
will partner to develop Direct Air Capture (DAC) products for the
carbon dioxide removal (CDR) industry, driving their shared
commitment to find materials science-based solutions to achieve
net-zero emissions and combat global warming.
ST.
PAUL, Minn., May 16, 2023
/PRNewswire/ -- 3M (NYSE: MMM) is
expanding its ongoing commitment to materials science-based climate
tech solutions by working with Svante Technologies, Inc. (Svante)
to develop material that can trap carbon dioxide (CO2)
found in the atmosphere and permanently remove it.
"3M is committed to helping build
a low-carbon economy. We are driven by a need to solve the
world's most pressing challenges, and our partnership with Svante
to create innovative climate solutions is an exciting prospect for
us," said Ray Eby, president of 3M's
Personal Safety Division. "Similar to how we tripled
production of N95 respirators during the early days of the COVID-19
pandemic, we are eager to take on the challenge of scaling the
production and supply of carbon removal materials over the next
decade and beyond to meet global demand. Our deep expertise in
filtration technology, extensive global R&D community and
our unwavering commitment to create world-changing solutions give
us the confidence to scale these carbon-adsorbing solutions with
the necessary speed to combat climate change."
3M Ventures, the venture capital
arm of 3M, recently participated
in Svante's Series E fundraising round, which raised
$318 million to accelerate the
manufacturing of Svante's carbon capture and removal
technology.
"3M is another great addition to
our network of world-class strategic partners and investors," said
Claude Letourneau, Svante's
president and chief executive officer. "3M's 120+ years of
expertise in producing materials science-based solutions at scale
is unparalleled and will aid us in our efforts to capture millions
of tons of CO2 from diverse sites around the
world."
Svante has developed a process for coating solid sorbents onto
laminate sheets and stacking into high-performance filters, which
are available for both industrial point-source capture (from
hydrogen, cement, steel, aluminum, pulp & paper plants, and
refineries) and for direct air capture. Because of the
wide array of markets the company serves, Letourneau says Svante's
technology can be applied to 85% of the total carbon capture and
removal segment.
"With 51 technology platforms across 3M, we're innovating and creating new technology
capabilities to meet the growing needs of the carbon capture and
removal market," said Fabrice
Moguet, senior vice president of research and development
for 3M's Safety and Industrial Business Group. "To fulfill Svante's
needs and help combat climate change, we'll need to scale to
thousands of miles of technical material over the next few years,
and we're excited to manufacture our first products in the United States for Svante's DAC
applications."
The joint development agreement (JDA) between 3M and Svante focuses on the development and
manufacture of solutions using parallel channel structured
adsorbent technology for sale into the carbon dioxide removal (CDR)
industry.
About 3M
3M (NYSE: MMM) believes science
helps create a brighter world for everyone. By unlocking the
power of people, ideas and science to reimagine what's possible,
our global team uniquely addresses the opportunities and challenges
of our customers, communities, and planet. Learn how we're
working to improve lives and make what's next at 3M.com/news or on Twitter at @3M or
@3MNews.
About Svante
Svante manufactures solid sorbent-based filters and rotary
contactor machines that 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
removal a reality. The company is on the 2023 Global Cleantech
100 and was ranked second among private companies in the
Corporate Knights Future 50 Fastest-Growing Sustainable
Companies in Canada. To learn
more about Svante, visit www.svanteinc.com, or follow Svante
on LinkedIn or Twitter @svantesolutions.
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