HomeCarbon Markets3M and Svante Join Forces to Produce Carbon Removal Products

3M and Svante Join Forces to Produce Carbon Removal Products

3M, a leading manufacturer and science company, has partnered with Svante Technologies, a carbon capture and removal firm known for its expertise in carbon capture and removal. Together, they aim to create Direct Air Capture (DAC) products, designed to capture carbon dioxide directly from the air and permanently remove it

The deal reaffirms the companies’ commitment to providing materials science-based solutions to reach net zero emissions and fight global warming. 

Scaling Up Supply of Carbon Capture and Removal Materials

3M has 120+ years of expertise in producing and supplying materials science-based solutions at unmatched scale. It manufactures a broad range of products, from building materials and adhesives to medical and cleaning supplies. 

The company brings that massive experience and expertise in the carbon dioxide removal (CDR) industry by working with Svante. An executive from 3M, Ray Eby, asserts the company’s commitment to scaling up climate tech solutions, saying that: 

“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.” 

Just like how the company tripled the supply of N95 respirators during the early days of COVID-19, 3M is as eager to scale the production of carbon removal materials over the next decade. Through its 51 tech platforms, 3M innovates and creates new technology capabilities to meet the growing needs of the industry.

This is important in meeting the demand for CDR, which climate scientists believe critical in achieving the Paris goal. CDR solutions include bioenergy combined with CCUS (BECCS) and direct air carbon capture with storage (DACCS or DAC). 

carbon removal technologies net zero

That said, the market for carbon removal is expanding rapidly. Investments came pouring in from large companies wanting to help early-stage CDR tech startups scale up and bring costs down. In fact, the industry has its own dedicated venture capital fund called Counteract, while government support reached billions of dollars

Joining the CDR supporters and investors, the venture capital arm of 3M, 3M Ventures, participated in Svante’s Series E fundraising. The said round raised $318 million to accelerate the manufacturing of Svante’s carbon capture and removal technology.

Capturing Millions of Tons of CO2

Svante manufactures solid sorbent-based filters and rotary contactor machines that capture large-scale carbon emissions for storage or further industrial use. Its filters are available for point-source capture from hydrogen, cement, steel, aluminum, pulp & paper plants, and refineries, and DAC applications.

Because of the broad range of markets Svante serves, the company’s CEO Claude Letourneau says Svante’s tech is applicable to 85% of the total carbon capture and removal market. By adding 3M into their global partners, it will further help Svante in capturing millions of tons of CO2 worldwide. 

In order to help meet that goal, 3M has to scale the production of DAC materials over the next few years. It will be the company’s first CDR products in the U.S. for Svante’s DAC applications. 

The joint development agreement between the companies focuses on developing and manufacturing carbon adsorbent technology for the carbon removal industry. This venture is part of 3M’s plans to invest about $1 billion to accelerate new environmental goals and one of them is to be carbon neutral by 2050.

Most Popular
LATEST CARBON NEWS

Brazil’s Bill Will Allow Loggers to Earn $24M from Carbon Credits

Brazil’s Congress passed a bill that will make carbon credits available to private companies with forest concessions, serving a first step in regulating the...

Global Renewable Energy to Break Records in 2023, IEA Says

Global additions of renewable power capacity will increase by a third this year, says the International Energy Agency (IEA). In the IEA's 2023 Renewable Energy...

Equatic Reveals First-of-a-Kind Ocean CO2 Removal Tech, Inks Deal with Boeing

Ocean carbon removal startup Equatic launches breakthrough low-cost, gigaton-scale climate technology and signs a pre-purchase deal with Boeing. L.A.-based Equatic is an UCLA Samueli School...

Lithium-Ion Wars: US Battery Imports Soar by 66%, Setting New Record as Domestic Production Ramps Up

According to S&P Global, in the first quarter of 2023, US imports of lithium-ion batteries surged by nearly 66% from the previous year, reaching...
CARBON INVESTOR EDUCATION

What are the Effects of Methane Emissions and Why Should We Care?

What are the effects of methane emissions? That’s the multi-million dollar question in the world’s battle over global warming as methane was often overlooked...

Carbon Credits and the Future of Sustainable Business: Exploring Best Practices

The trading of carbon credits can help entities and the world meet their climate goals by cutting carbon emissions and practicing sustainable business. While...

Revolutionizing Textile Recycling with HTC

A Virginia-based startup, Circ, has developed a unique hydrothermal processing technology for recycling blended textiles, like polyester-cotton blends. With fast fashion's emissions and environmental...

Carbon Credits and the Sustainable Development Goals: Aligning Climate Action with Global Priorities

Carbon credits from climate actions represent a crucial part of a strategy to mitigate climate change while supporting the global priorities on advancing sustainable...