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ABU DHABI, United Arab Emirates — Samsung Engineering and Svante Technologies Inc. (Svante) announced today that they have signed a memorandum of understanding (MoU) to collaborate to identify, develop, and deliver commercial carbon capture, utilization and storage (CCUS) projects in Asia and the Middle East, targeting hard-to-abate heavy industries including cement, steel, hydrogen, fertilizer and more, using Svante’s novel solid sorbent-based carbon capture filter technology. The two companies will also explore design iterations of Svante’s post-combustion carbon capture plants. The MoU was signed during the ADIPEC 2023 conference in Abu Dhabi, UAE on October 4, 2023.
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Samsung Engineering is one of the world’s leading engineering, procurement, and construction (EPC) and project management companies in the world, with an ambition to lead in the energy transition. Samsung Engineering’s extensive experience in executing many projects, paired with Svante’s novel approach to carbon capture and removal, make this collaboration an innovative solution for clients in heavy industries looking to decarbonize.
An important goal for Samsung Engineering is to become a ‘’Beyond EPC – Green Solution Provider’. The company is working to transform itself from not only a conventional EPC player but also a green solutions provider, taking meaningful actions to decarbonize its own operations. “The time is now for the CCUS industry value chain players to rethink how they approach projects to deliver them faster, cheaper, and more efficiently. Undertaking multiple projects in parallel while using the same EPC contractor will greatly improve project performance,” said Hong Namkoong, President & CEO of Samsung Engineering.
Svante has developed a unique, environmentally responsible carbon capture and removal technology, which employs what it calls “structured adsorbent beds”, known as “filters”. The company’s filters are coated with nanoengineered solid adsorbent materials and can be used to capture CO2 from industrial emissions that come from the production of difficult-to-decarbonize, heavily relied-on commodities, including cement, steel, fertilizer, hydrogen, and more. The company’s filter technology can also be used for direct air capture (DAC), in which CO2 that has already been emitted into the atmosphere is trapped and removed from ambient air.
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“We are delighted to welcome Samsung both as a strategic commercial collaborator and an investor in Svante, alongside our other strategic value chain partners and investors,” said Claude Letourneau, Svante’s President and CEO. “Samsung Engineering’s 50+ years of execution experience across the energy and industrial sectors will be invaluable as we continue to rapidly scale our operations and filter manufacturing capacity.”
The two companies will work together to identify, develop, and deliver commercial-scale carbon capture projects in the Asia and Middle East markets, ensuring heavy industries in these regions have more viable pathways to meet their emission reduction targets. In addition, it is expected to be able to provide customers with an integrated project delivery model for carbon capture plants that is effective in industrial project management and performance optimization.
About Samsung Engineering:
At Samsung Engineering, we aim to create value based on the world’s best technological competence and contribute to our clients, society and people. Samsung Engineering as one of the world’s leading EPC&PM companies, has served clients in a variety of industries such as oil-refining, gas-processing, petrochemicals, infra-structure & environmental sector and bio-industry. Providing professional services across the whole project cycle ranging from professional feasibility studies to design, procurement, construction, commissioning, maintenance & operation. Samsung Engineering has completed more than 1,000 projects worldwide.
To prepare for ESG-based eco-friendly businesses for the future, we expanded our value chain to the business of operating green infrastructure, such as water treatment facilities and incinerators, and green solution business for energy optimization and carbon neutrality. To preemptively respond to changes in the global energy industry and take the lead in resolving global warming, we will provide optimal solutions based on our technologies and expertise.
For more information, please visit www.samsungengineering.com
About Svante:
Headquartered in Vancouver, BC, Canada, Svante is a purpose-driven, leading carbon capture and removal solutions provider. The company makes nanoengineered filters and modular rotary contactor machines that capture and remove CO2 in an environmentally responsible way from industrial emissions and the air. Svante is on the 2023 Global Cleantech 100, the XPRIZE Foundation’s XB100 — World’s Top 100 Deep Tech Companies, and was ranked second among private companies in the Corporate Knights’ Future 50 Fastest Growing Sustainable Companies in Canada. To learn more about Svante, visit www.svanteinc.com and follow Svante on LinkedIn or Twitter @svantesolutions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231004688582/en/
Contacts
Svante
Colleen Nitta
Director of Marketing & Communications
E-mail: cnitta@svanteinc.com
Phone: +1 604-970-2813
Samsung Engineering
Jin Hartmann
Head of International Corporate Communications
E-mail: jin.hartmann@samsung.com
Jaseung (Jason) Yoon
International Corporate Communications Manager
E-mail: ja.yoon@samsung.com
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