Suncor Energy Inc., one of Canada’s largest oilsands independents, has agreed to join a group of oil and gas heavyweights to back Svante Inc. as it works to accelerate commercializing more carbon capture technologies.


The latest $25 million infusion is designed to fund technology to reduce greenhouse gas (GHG) emissions in industrial applications and to advance hydrogen manufacturing.

Calgary-based Suncor, Carbon Direct SPV I LLC and a group of family office investors were involved in the latest investment. Family office investors are private wealth management advisory firms.

“Carbon capture is a strategic technology area for Suncor to reduce GHG emissions in our base business and produce blue hydrogen as an energy product,” CEO Mark Little said. “An investment in...