Inventys raises $11m

Jul 23 2018


Inventys, has secured US$11M with lead investment from OGCI Climate Investments, alongside existing investors The Roda Group and Chevron Technology Ventures, as part of a planned US$21M Series C Financing Round.

The US$11M will fund the 30-tonne per day (TPD) CO2 capture pilot plant demonstration program with Husky Energy scheduled to be in operation in Q1-2019, as well as support Inventys’ aggressive time-to-market strategy for 2020.

Dr. Pratima Rangarajan, CEO of OGCI Climate Investments, said, “As we address climate change, we must develop economic ways to capture, utilize, and store CO2. Inventys’ technology can cause a step change in the economics of CO2 capture.”

“At Inventys, we see it as an opportunity to put CO2 to work. Some say it’s too costly and difficult to capture and use or store CO2 using a distributed supply model. We believe Inventys’ technology will prove them wrong,” said Inventys President & CEO Claude Letourneau.

“We’ve built a world-class team of scientists, engineers, technicians, specialists, strategists, project developers and entrepreneurs dedicated to creating a global CO2 marketplace using our breakthrough next-generation carbon capture technology.’’

A key building block for unlocking the growth of the CO2 marketplace is shifting the carbon capture cost curve down by at least a factor of two from conventional technology (chemical solvents). Inventys found a way to do this with advanced solid adsorbent nanomaterials, combined with a novel modular compact contactor, to capture CO2 from very dilute post-combustion flue gases (from industrial processes and gas-fired power plants).

Dr. Steven Chu, former US Secretary of Energy and a member of Inventys’ board of directors, said “Carbon capture, utilization, and sequestration from point sources such as power, cement, and steel plants is essential to minimize the risks of climate change. After completing an extensive due diligence process, OGCI Climate Investments recognized that Inventys has a leadership position in dramatically lowering the cost of carbon capture needed to develop this multibillion-dollar market opportunity.”

Inventys
Oil and Gas Climate Initiative


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Issue 63 - May - June 2018

The Oil & Gas Issue: CCS is back on the EU agenda and the oil & gas industry can help .. Industrial CO2 capture: the case of LNG plants .. ACT Acorn full-chain integrated project Hazelwood pilot - a new CO2 absorber offers cost reductions .. Offshor.....


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