U.S. multinational conglomerate 3M and Svante, a carbon capture & removal solutions company, announced on May 16 they will work together to develop material that can trap CO2 from the atmosphere and remove it permanently.
Ray Eby, the president of 3M’s Personal Safety Division, stated that 3M is dedicated to contributing towards the establishment of a low-carbon economy by expanding the production and availability of carbon removal materials in the coming decade and beyond, with the aim of fulfilling the growing global demand.
3M’s venture capital arm 3M Ventures, recently took part in Svante’s Series E fundraising round, which raised $318 million to speed up Svante’s CO2 capture and removal technology.
Svante provides a process for coating solid sorbents onto laminate sheets and stacking them into high-performance filters. Those filters are available for both industrial point-source capture and direct air capture. According to the company’s president and CEO Claude Letourneau, Svante’s technology can be applied to 85% of the total CO2 capture and removal sector.
3M is actively engaged in the innovation and development of 51 technology platforms within the company, and is dedicated to meeting the ever-expanding requirements of the carbon capture and removal market, said Fabrice Moguet, senior vice president of research and development for 3M’s Safety and Industrial Business Group. To meet Svante’s needs, 3M will need to scale to thousands of miles of technical material in the upcoming years, he also said.
The joint development agreement (JDA) between the two companies focuses on the development and manufacture of solutions by the use of parallel channel structured adsorbent technology for sale in the CO2 removal segment.