Raising total Government funding for the once-through steam generator (OTSG) CO₂-capture pilot demonstration program to $12.3M, including support from SDTC, ERA, WINN, and IRAP VANCOUVER, British Columbia — Friday, December 15, 2017 — Inventys, the developer of the VeloxoTherm™ Process, a carbon dioxide (CO₂) capture system, is receiving $2.6M from Natural Resources Canada (NRCan) through its Energy Innovation […]
Financing supports the deployment of a next-gen carbon capture pilot plant at Husky’s Pikes Peak South Lloyd thermal project
VANCOUVER, British Columbia — Tuesday, July 11, 2017 — Inventys, the developer of the VeloxoTherm™ System, a carbon dioxide (CO2) capture process, today announced that it has closed an equity financing with Husky Energy as lead investor. The Company raised total cash proceeds of CAD$10 million in this first tranche of its current Round B-11 financing process, including investments from existing investors, The Roda Group and Chrysalix Energy Venture Capital.
Proceeds from the transaction will fund a 30-tonne per day (TPD) CO2-capture pilot plant aimed at producing a low-cost CO2-supply solution for Husky’s heavy oil enhanced oil recovery (EOR) program near Lloydminster, Saskatchewan.
“We’re very pleased to work with Husky and welcome its investment and industry knowledge,” said Inventys President and Chief Executive Officer Claude Letourneau. “This is the world’s first pilot-scale plant using structured adsorbents to capture CO2 from a once-through steam generator (OTSG) for use in heavy oil recovery.”
Letourneau added, “Canada offers the perfect setting to prove our second generation carbon capture technology, reduce carbon emissions, uphold Canada’s climate goals, create jobs, and support industrial growth.”
The VeloxoTherm™ System is a next-generation CO2-capture technology that has the potential to deliver breakthrough capture costs. By combining a uniquely patented solid adsorbent structure with a rapid cycling temperature swing adsorption process, Inventys has successfully demonstrated economical CO2 capture capabilities with its compact adsorption machine.
Earlier this year, Inventys commissioned a self-contained 0.5 TPD VeloxoTherm field demonstration plant at the same Husky site as a platform for rapid development of its new adsorbent structures. The demo plant has recorded meaningful data since testing began in early 2017. The test results over the next six months will shape the design of the 30-TPD plant. The pilot plant is planned to be commissioned in the fall of 2018.
Husky has been growing its heavy oil bitumen production in the Lloydminster region of Saskatchewan and Alberta through the use of thermal technologies, where steam is injected into oil reservoirs to increase recovery. Through Inventys’ technology, Husky is looking to capture the CO2 generated from its thermal operations and use it to increase oil recovery from adjacent assets.
Inventys’ structured adsorbent is a platform technology which is used in gas separation processes, including the VeloxoTherm™ process. The company’s patented structured adsorbent technology is used to capture high purity CO2 from dilute flue gas from coal and gas-fired power plants and industrial processes using novel proprietary solid structured adsorbent materials. This technology supports an aggressive time-to-market strategy needed to keep global warming under 2°C.
Inventys is a clean energy technology company with a credible solution for capturing point-source CO2 emissions and accelerating the global transition to a lower-carbon economy. The VeloxoTherm™ process combines Inventys’ patented Adsorbent Structure and rapid cycle thermal swing process to achieve unmatched economics. Unlike conventional methods, this three-step process maximizes carbon capture productivity, cuts capital costs, and reduces regeneration energy. For more information about Inventys and the VeloxoTherm™ process, please visit www.inventysinc.com. You can also connect with us on Facebook or Twitter @inventysinc.
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BURNABY, BC, July 13, 2016 /CNW/ – Cleantech innovator Inventys is receiving up to $275,000 from the Government of Canada to deliver a cutting-edge CO2 capture technology. The announcement was made today by Terry Beech, Parliamentary Secretary for Science, on behalf of the Honorable Kirsty Duncan, Minister of Science.
“Investing in the low carbon economy has the potential to bring lasting health, economic, and environmental benefits to Canadians and people around the world,” said Parliamentary Secretary Terry Beech. “Our government’s commitment to combatting greenhouse gas emissions means increasing opportunities for Canadian small and medium-sized inventors, like Inventys.”
This funding will go toward the development of Inventys’ next generation VeloxoTherm system, a solid adsorbent technology. The VeloxoTherm system is a low-cost, non-toxic technology that captures CO₂ from post-combustion emissions and is used by the energy and industrial sectors for greenhouse gas reduction.
This investment is made through the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), which supports thousands of small and medium-sized enterprises in Canada every year in developing and commercializing innovative technologies.
“Inventys has the potential to develop a Canadian-made, new-to-the-world adsorption technology for carbon capture that removes the barriers to a low-carbon economy,” said Inventys’ Executive Chairman, Wayne G. Thomson. “Funding from NRC-IRAP and the program’s hands-on approach continues to have a significant impact on the development of our transformative clean energy technology.”
NRC-IRAP has worked with Inventys since 2008, attracting other investors and influencing the company’s growth from two to 22 employees.
For further information: Media Relations Team, National Research Council of Canada, 1-855-282-1637 (toll-free, 24/7, in Canada only), 1-613-991-1431 (elsewhere in North America), [email protected], Twitter: @NRC_CNRC; Véronique Perron, Press Secretary, Office of the Minister of Science, 343-291-2600; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]
For printing or downloading, here is a pdf copy of the release.
Ed Davey announces new £20 million ETI project to develop and demonstrate advanced carbon capture technology for gas-fired power stations
The Secretary of State for Energy and Climate Change, Ed Davey, has today launched a new technology project which could see up to £20 million being invested by the Energy Technologies Institute (ETI) to develop and verify advanced carbon capture technology.
The ETI has commissioned and funded a consortium to deliver the project which will see a 5MW carbon capture demonstration plant capable of capturing up to 95% of carbon dioxide emissions designed, built and tested by 2016.
The technology will be designed to be used on new-build Combined Cycle Gas Turbine (CCGT) power stations or to retrofit Carbon Capture Storage (CCS) onto CCGT power stations.
The project launch was marked by a visit to consortium member Howden’s Global head office and UK factory in Renfrew, near Glasgow, by the Secretary of State. Howden’s currently employs 378 at its premises in Renfrew.
The technology that will be employed by the consortium is based around post combustion capture using a structured carbon adsorbent, housed within a rotating bed. An initial assessment by the ETI suggests that the technology could reduce the typical cost of electricity by 13 per cent when compared to current CCS technology*. The first phase of the project will see the ETI invest £1.6 million in a small scale demonstrator prototype, laboratory work and techno-economic assessment to confirm the projected benefits. This will then be followed by a conceptual design for the larger-scale demonstrator plant.
Once this initial stage completes, the ETI then expects to invest up to £20 million over three years in the detailed design, assembly and testing of a UK demonstrator plant. The technology is expected to be capable of large-scale deployment by 2020, at a cost and performance level which could make investment more attractive to project developers.
Ed Davey, the Secretary of State for Energy and Climate Change, said: “CCS is a key part of our aim to reduce carbon emissions from gas and coal in our future energy mix. The UK is a leading nation in developing this new technology and the project announced today is another important step to our goal of a cost competitive CCS industry.
“CCS is a prime opportunity for UK manufacturing and I am delighted to see Scottish based companies like Howden and Doosan Power Systems, as well as MAST Carbon based in Basingstoke, seizing the opportunity to create jobs for skilled workers and growth for the economy.”
Dr David Clarke, Chief Executive, ETI, added: “We expect CCS to be a key component in a future affordable, secure, low carbon UK energy system. Given the potential it offers, the technology around CCS requires investment now to build its economic viability and help extend its role in any future UK energy system design.
“With a large and relatively young CCGT fleet in operation, and the prospect of new builds continuing into the future, we are likely to enter 2020 with 30GW of CCGT capacity, much of which will require retrofit with CCS by 2030 if we are to meet UK CO2 reduction targets. Newly developed technology which reduces costs and accelerates deployment for new builds and retrofits by 2030 is critical. Major developments such as this project will support job creation and growth in the energy sector.”
Ian Brander, CEO of Howden Group, added: “The UK government’s initiative in creating the ETI to accelerate the development of low carbon technologies has in this case helped bring together an innovative gas separation technology developer with two world leading UK-based engineering companies; both of whom are well established within the global power generation industry. We have all become increasingly aware of the effects of climate change and the need to reduce CO2 emissions from energy intensive industries. As a consortium, we recognise that this need for change provides a proactive opportunity to use our knowledge and experience to develop products and systems that will help in meeting CO2reduction targets, and in the longer term help position the UK as a leading provider of next generation low carbon technologies.”
The consortium will be led by Inventys in collaboration with Howden, Doosan Power Systems and MAST. Howden will manufacture the large rotating devices in which the carbon adsorbents will be housed; Inventys will design the carbon dioxide capture process and system known as VeloxoTherm™; Doosan Power Systems will provide expertise in the area of engineering design, system integration and assessing the commercial value of developing such technology; MAST will provide the expertise in manufacturing the carbon adsorbent material; and ETI member Rolls-Royce, will provide specialist engineering support for the project.
This project adds to the ETI’s existing £33 million investment in its CCS technology programme, which aims to build CCS infrastructure capability for the UK.
To view ETI Project Manager Rebecca Sweeney explain the project click here.
Notes to Editors
For further information, please call Richard Robinson, Media Relations Manager, at the ETI on 01509 202026 or 07500 049626.
● * The 13% reduction is based on the Levelised Cost of Electricity (LCOE.)
The ETI has recently completed a major study to assess carbon dioxide storage capacity in the UK. ETI’s current activity in this field includes a CCS system modelling tool-kit to help support the future design, operation and roll-out of cost effective UK-based CCS systems and the commissioning last year of a £23.5 million CCS Next Generation Coal Capture Technology Demonstrator project.
●The Energy Technologies Institute (ETI) is a public-private partnership between global industries – BP, Caterpillar, EDF, E.ON, Rolls-Royce and Shell – and the UK Government.
● Public sector representation is through the Department for Business, Innovation and Skills, with funding channelled through the Technology Strategy Board and the Engineering and Physical Sciences Research Council. The Department of Energy and Climate Change are observers on the Board.
The ETI is focused on accelerating the deployment of affordable, secure low-carbon energy systems for 2020 to 2050 by demonstrating technologies, developing knowledge, skills and supply-chains and informing the development of regulation, standards and policy.
Howden is one of the world’s largest and longest established manufacturers of air and gas handling equipment. The company was established in Glasgow in 1854 as an engineering firm, and has grown to become a worldwide organisation with over 4,000 employees and companies in 21 countries. Howden is owned by Colfax Corporation, and designs and supplies heavy duty industrial fans, rotary heater exchangers, compressors and gas cleaning equipment to customer specifications. Howden products will typically be highly engineered to perform at the optimum level for customers in Power Generation, Oil & Gas, Petrochemical, Mining and Metal Refining plants internationally, amongst many other energy intensive, environmental and heavy industrial applications.
Inventys Thermal Technologies is the developer of advanced gas separation and purification processes and systems. Inventys proprietary carbon dioxide capture system called VeloxoThermTM is based on an intensified thermal swing adsorption process which employs structured adsorbents housed in a rotating embodiment.
Doosan Power Systems builds, maintains and extends the life of power plants across the world. From full Engineering-Procurement-Construction (EPC) contracts for major power projects we also offer a wide breadth of products and services to power and industrial customers.
MAST Carbon International carries out research, development and small scale production in the field of advanced carbon materials for a wide range of applications including water and air purification, energy storage, military and biomedical products. The Carbon Capture process offers a world scale opportunity for MAST and the UK manufacturing sector.
The CCEMC announced $46 million in funding for carbon capture and storage and cleaner energy projects July 12, 2012. The projects have a combined value of more than $327 million.
“The CCEMC is supporting industry efforts to reduce greenhouse gas emissions from fossil fuels while helping to ensure Alberta can continue to be a global energy leader, even as we transition to other sources,” said CCEMC Chair Eric Newell. “By addressing challenges facing Alberta’s large emitters we are funding projects that have tremendous potential to reduce Alberta’s greenhouse gas emissions over the long term.”
The organizations receiving funding from CCEMC are:
- Cenovus Energy Inc. – $10 million for a Chemical Looping Steam Generator – 10 MW Pilot at Christina Lake near Fort McMurray
- Husky Energy – $2.9 million for the Lashburn CO2 Capture Demonstration Project near Lloydminster
- Imperial Oil – $10 million for a Cyclic Solvent Process pilot in Cold Lake
- Inventys Thermal Technologies Inc. – $3 Million for the VeloxoTherm™ CO2 Capture Project at Joffre
- MEG Energy Corp. – $10 million for Heavy Crude Quality Improvement in the Alberta Industrial Heartland Region
- N-Solv Corporation – $10 million for the N-Solv BEST Pilot Plant at Suncor Dover in Fort McMurray
For more details, read our press release and backgrounder at ccemc.ca.
BERKELEY, Calif., (BUSINESS WIRE)—June 5, 2012—The Roda Group, the largest investor in the renewable oils company Solazyme (NASDAQ:SZYM) and a venture capital group focusing on large-scale and lucrative business opportunities that address the issues of climate change, increasing demand for low carbon energy, and stress on the Earth’s natural resources, announced that it has invested in two new companies in the cleantech space.
mOasis has created a soil amendment product that increases crop yields while simultaneously reducing the need for fertilizer, water and water-related energy use. The product is a new type of hydrogel, a polymer known for its ability to absorb massive quantities of water. The mOasis product is able to enhance the amount of moisture and nutrients available to a plant’s root zone and significantly reduce water stress between rain or irrigation cycles. The company is led by Susanna Kass, CEO and Dr. Nai Hong Li, Co-Founder and CTO. mOasis is currently conducting field trials, managed by prominent agriculture scientists, that have already produced promising results.
Inventys has developed an energy and capital-efficient technology for capturing carbon dioxide from industrial sources. The company’s proprietary process is less than one-third the cost of existing industrial CO2 capture technologies and will enable the widespread adoption of carbon capture and sequestration. The company is led by CEO Andre Boulet and fellow co-founders Brett Henkel, Soheil Khiavi and Darryl Wolanski. Inventys is building an in-house pilot unit capable of capturing multiple tons of CO2 per day from a natural gas power generator by late 2012 and will be deploying field units with major industry partners in 2013.
Roger Strauch, Chairman of The Roda Group, said, “As was the case with Solazyme, The Roda Group is enthusiastic and proud to invest in talented and passionate people who look forward to developing and selling products that address enormous market opportunities while helping the world build a more sustainable and healthy environment and food supply. We believe that mOasis and Inventys will fundamentally advance the way we grow food and produce energy, respectively.”
OUR GOAL: Build a CO₂ Marketplace by Matching Man-Made CO₂ Sources with CO₂-to-Value Opportunities.
Stay in Touch
- Inventys Announces US$11M Series C Fundraising Round with OGCI Climate Investments as Lead InvestorJuly 15, 2018 - 10:45 pm
- Additional $2.6M Received from NRCan to Accelerate Deployment of Next-Gen CO₂ Capture Pilot PlantDecember 15, 2017 - 9:26 am
- Former Airbus CTO Joins Board of Inventys a Canadian Carbon Capture CompanyAugust 31, 2017 - 10:38 am