Svante, considered a leader in developing carbon capture technologies, said a division of Chevron U.S.A. Inc. was lead investor in a $318 million fundraising round, which is to be used to accelerate the business. 

Chevron New Energies (CNE) provided most of the financing. CNE was formed in 2021 to accelerate opportunities in carbon capture utilization and sequestration (CCUS), renewable fuels and products, offsets and emerging technologies. Chevron Technology Ventures made an initial investment in Svante in 2014. 

Chevron in 2020 launched a project to pilot Svante technology to capture carbon dioxide (CO2) from natural gas, post combustion. The project, which received funding from the U.S. Department of Energy, is collaborating with Svante and the National Energy Technology...