British Columbia-based Svante Technologies is expanding further in the carbon capture and storage (CCS) space with the acquisition of Calgary’s Carbon Alpha Corporation (CAC).
Founded in 2021, CAC develops large-scale carbon dioxide removal and CCS projects, particularly bioenergy carbon capture and storage (BECCS), to remove carbon dioxide from the atmosphere and generate carbon removal credits.
Announced on March 4, Svante’s acquisition of CAC includes its subsidiaries and the company’s ownership interests in North Star Carbon Solutions, a project developer for CCS in Western Canada.
Under the deal, Svante also takes ownership of CAC’s flagship North Star BECCS project. That project is located in Meadow Lake, Sask. and is being developed through a partnership with the Meadow Lake Tribal Council (MLTC). It aims to take waste from the MLTC’s existing sustainable forestry facility and sequester the related carbon dioxide in an underground aquifer. The project is currently in the front-end engineering and design phase, with an expected completion date of 2028.
The project also features a CO2 pipeline developed by CAC that will connect North Star BECCS to permanent geological storage southwest of Meadow Lake.
MLTC Tribal Chief Jeremy Norman said the organization is excited to work with its new partners and highlighted the partnership’s economic impact on the Meadow Lake area.
“It enables MLTC First Nations to create ongoing economic development, jobs, environmental leadership, and optimism for our people,” Norman said in a press release.
In a statement issued on March 4, Svante said the deal plays a vital role in advancing the company’s goal of building out a “fully integrated, carbon management business across the CSS value chain” by expanding its Western Canadian footprint and partnerships.
Likewise, the president and CEO of Svante, Claude Letourneau, said onboarding projects like the North Star BECCS allowed the company to scale its CCS solutions and carbon credit delivery.
“This project is a game changer for Svante and a pivotal moment for scaling verifiable, durable engineered carbon removal solutions working in tandem with nature,” Letourneau said in a press release. “By integrating Carbon Alpha’s team, we’re accelerating the delivery of high-integrity [carbon dioxide removal] credits at commercial scale.”
Svante said it plans to advance the North Star project’s front-end engineering process, with a final investment decision from the company expected in Q1 of 2027.
BetaKit reached out to Svante for more information on the acquisition but did not hear back by our publication deadline.
BetaKit’s Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.
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