Delta CleanTech Inc. announced last Friday its strategic focus on CO2 capture following its acquisition of the CO2 capture and solvent reclaiming division and operating assets of HTC Extraction Systems. The Company has also completed a non-brokered private placement capital raise of over $7.5MM to increase Delta’s commercial capacity to provide its clean technology product offer from its new Calgary-based headquarters.
Delta offers engineering and process design services for CO2 capture plants and works with local original equipment manufacturer (OEM) fabricators and contractors to have these manufactured, installed, and commissioned.
Delta CleanTech CEO expects CO2 capture to generate more business
“With the recent downturn in the oil and gas business in Alberta, energy services contractors are now seeing CO2 capture and solvent reclaiming as a logical extension to their existing energy equipment fabricating services business,” said Jeff Allison, President of Delta CleanTech. “There has been a recent surge in new CO2 capture projects, and these new projects are being driven by increased carbon taxes, environmental and social governance (ESG) requirements, and increased CO2 mitigation funding provided by both the Alberta and Canadian Governments. We expect to see this trend continue.”
The Alberta government intends to seek $30 billion in federal funding via spending or tax incentives over the next decade for large scale industrial carbon capture projects.
Delta and HTC are recognized globally as experts in CO2 capture and solvent reclamation, and have participated in many of the larger CO2 capture projects world-wide over the last 15 years including projects in Norway, Scotland, Italy, United States, and Canada.
“Delta intends to maintain its leadership position in CO2 capture in Alberta and beyond. We recognize how crucial this function is not only to our industry and community, but also to the world at large. We are living through a transformational point in history, and we are excited to be leading the way into a cleaner and more sustainable future,” added Allison.
This is announcement follows other CO2 capture investments announced by Canadian companies recently, with Svante receiving the largest investment into point source carbon capture tech to date from Suncor Energy.