Svante has been headquartered in Burnaby since 2007 and has made sizeable advancements in the global carbon capture, utilization, and storage (CCUS) space since then.
The company manufactures nanoengineered filters and machinery that capture and remove carbon dioxide (CO2) from industrial facilities and the air, effectively stopping the greenhouse gas from contributing to climate change.
Svante received $25 million funding in 2021 from the Canadian Federal Government’s Strategic Innovation Fund (SIF) – Net Zero Accelerator Program for the construction of a first commercial scale filter manufacturing facility in Vancouver.
The carbon capture and removal solutions provider followed that up in 2022 with a USD $318 million Series E fundraising round lead by Chevron New Energies and Temasek.
“The companies on the XB100 list represent the most valuable and impactful private companies in the deep tech sector,” said Tess Hatch, partner at Bessemer Venture Partners. “The XB100 awardees defy imagination and will reshape the human experience.”
The XB100 celebrates businesses and entrepreneurs who are commercializing scientific research into deep tech and making a meaningful impact on society. The XB100 evaluation process involved ranking companies across four factors: impact on humanity, valuation, scientific difficulty, and commercial traction.