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Wednesday, December 6, 2023

Pilot And Svante Announce Collaboration To Offer Full-Service Carbon Capture & Storage Solutions To Industrial Emitters

Pilot Energy Limited (‘Pilot’ or ‘the Company’) and Svante Technologies Inc (‘Svante’) have entered into MoU to target integration of Svante’s market-leading solid sorbent-based post- combustion carbon capture technology with Pilot’s Cliff Head CO2 storage project. The objective is to accelerate the commercial deployment of emissions reduction solutions, targeting Australia’s top greenhouse gas emitters.

  • Pilot Energy Limited, and Canadian carbon capture & removal solutions provider, Svante Technologies Inc, have signed a Memorandum of Understanding (MoU) to collaborate on offering a one-stop-shop solution for carbon capture, transportation, and storage to industrial businesses with hard-to-avoid CO2 emissions.
  • Pilot Energy and Svante to initially target the decarbonization of ~8-million tonnes per annum of CO2 emissions1 from the Western Australian Kwinana Industrial Area2.
  • Svante’s novel solid sorbent carbon capture and removal filter technology is an “ideal solution” to capture Kwinana Industrial Area’s CO2 emissions.
Pilot’s CO2 storage project is an integral component of its Mid West Clean Energy project (’MWCEP’). The MWCEP leverages Pilot’s existing operational asset base (comprising the Cliff Head offshore oil production facility and onshore Arrowsmith separation plant) into the production of clean energy. The project includes a fully integrated carbon capture and storage operation through the conversion of the operating Cliff Head offshore oil field (CHCCS), which will enable the permanent storage of CO2 and the production of blue hydrogen, green hydrogen, and ammonia. Svante’s carbon capture filter technology is intended to be deployed to capture CO2 from industrial flue gas stacks on the sites of emitters.

Svante’s innovative solid sorbent carbon capture technology is an ideal solution to efficiently capture the Kwinana Industrial Area’s hard-to-avoid CO2 emissions, and we’re enthusiastic about this new collaboration.” said Brad Lingo, Pilot’s Chairman.

Based in Greater Vancouver, BC, Canada, Svante is a leading carbon capture and removal solutions provider. The company manufactures novel solid sorbent-based nanoengineered filters that capture and remove carbon dioxide, a greenhouse gas that largely contributes to climate change, from the source of post-combustion industrial emissions before it can reach the atmosphere. The company has been listed on the Global Cleantech 100 list since 2019 and has made several other recent announcements related to new collaborations and formal fundraising agreements, including a new collaboration with General Electric (GE) Gas Power and a formal announcement of an investment made by United Airlines as part of Svante’s record-setting US$318-million Series E fundraising round.

Under the MoU, Pilot and Svante will collaborate to evaluate and deploy full-service carbon management solutions from the point of CO2 capture, transportation, and permanent storage at Cliff Head. The parties will initially target the decarbonization of ~8-million tonnes per annum of CO2 emissions3 from the Western Australian Kwinana Industrial Area4 as reported by the Kwinana Industries Council. The CHCCS project has the potential to provide a carbon management solution for 15 – 25% of the Kwinana Industries Council members reported scope 1 emissions.

We are pleased to be collaborating with Pilot Energy to offer full-service, turnkey carbon management solutions to heavy industries,” said Matt Stevenson, Svante’s Chief Revenue Officer & Acting CFO. “An important feature of our business model is the ecosystem of partnerships we’re building globally across the value chain of carbon capture, utilization, and storage (CCUS). We’re excited about the opportunity to help Australia’s emitters decarbonize one of the country’s largest CO2 emitting regions.

Click here for the full ASX Release

This article includes content from Pilot Energy Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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