Chevron New Energies (CNE) served as the lead investor to carbon technology company Svante in its recent $318 million Series E financing round.
Currently working towards accelerating the manufacturing of carbon capture technology, Svante has created a structured absorbent bed, or filter, which is anticipated to produce enough filter modules to trap millions of tons of carbon dioxide per year. According to a company press release, the investment is expected to support Svante’s commercial-scale filter manufacturing facility in Vancouver.
Launched in 2021, CNE, a division of Chevron U.S.A. Inc., was established to accelerate lower carbon business opportunities and has worked with Svante on several occasions, dating back to 2014. Chevron is dedicated to accelerating lower carbon projects and intends to invest $10 billion through 2028.
The Pillsbury deal team, which served as counsel to Chevron New Energies, included Corporate partner Christina Pearson and Corporate counsel Lindsey Livingston, as well as Finance partner Alicia McKnight, Intellectual Property senior counsel Paul Thomas, Corporate associate Kristin Garr and senior law clerk Chelsea Lawson.
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