Technip Energies Partners with Svante to Develop Industrial-Scale Carbon Capture Projects in Europe and Middle-East

Rhea-AI Summary

Technip Energies has partnered with Svante to advance carbon capture technology via a Memorandum of Understanding (MoU). This collaboration aims to enhance integrated solutions for industrial carbon capture in Europe, the Middle East, Africa, and Russia. Svante's solid sorbent technology efficiently captures carbon dioxide from industrial processes, targeting projects in cement, hydrogen, and petrochemical sectors. The venture also seeks to reduce capital costs associated with carbon capture and aligns with global net-zero goals, aiming to deploy over 2,000 carbon capture plants by 2040.

Positive

• Partnership with Svante aims to enhance carbon capture technology, potentially increasing market competitiveness.
• Intention to reduce capital costs of carbon capture aligns with global net-zero goals, which could attract investment.
• Svante's technology promises to capture CO2 efficiently, targeting various industrial sectors, which may lead to increased adoption.

Negative

• The ambitious target of deploying over 2,000 carbon capture plants by 2040 may be overly optimistic given current market conditions.
• Competition in the carbon capture industry could impact Technip Energies' market share and profitability.

Partnership will extend integrated solutions with Svante’s Innovative Solid Sorbent Carbon Capture Technology

PARIS--(BUSINESS WIRE)-- Regulatory News:

Technip Energies (PARIS:TE) (ISIN:NL0014559478) and Svante have entered into a Memorandum of Understanding (MoU) to further develop Svante’s solid sorbent carbon capture technology and provide integrated solutions from concept to project delivery.

The partnership will explore opportunities in Europe, Middle-East and Africa (EMEA) and Russian Federation markets where Svante’s technology would be selected by end Clients for industrial carbon capture projects, including cement & limestone, blue hydrogen, refineries, petrochemicals, steel, ammonia and pulp & paper facilities. The cooperation will be worldwide for blue hydrogen plants using Technip Energies’ Steam Methane Reformer (SMR) technology.

The carbon-capture facilities will use Svante’s solid sorbent technology to capture carbon directly from industrial post-combustion flue gases as a non-intrusive “end-of-the-pipe’’ solution to produce pipeline-grade carbon dioxide. Svante innovative net-zero technology captures carbon dioxide, concentrates it, and releases it for safe storage or industrial use, all in less than 60 seconds, by using proprietary active capture nano-materials called “solid sorbent filter’’.

Through this collaboration, both companies intend to address the critical need of lowering the capital cost of the capture of the carbon dioxide emitted from industrial production in order to achieve the world’s net-zero carbon goals required to stabilize the climate. Leaders from industry, financial sectors and government agree on the enormity of the challenge and the critical need to deploy more than 2,000 carbon capture and carbon removal plants by 2040. This is equivalent to put in operations about 2 plants a week over the next 20 years.

Arnaud Pieton, CEO of Technip Energies, said: “We are glad to collaborate with Svante on their emergent carbon capture technology for the decarbonization of hard-to-abate industries by leveraging our expertise in technology co-development and integration as well as design, procurement and construction of carbon capture plants. This partnership clearly reflects the significant role of industrial-scale technologies to accelerate the transition towards a low-carbon society.’’

Claude Letourneau, President and CEO of Svante, said: “This partnership with Technip Energies will allow us to focus our development effort in building a scalable supply chain for active capture materials to address a broad carbon capture and removal solutions offering at Gigaton scale. Svante is currently expanding its commercial filter manufacturing facility in Canada. By the end of 2023, the new facility will have an annual capacity to delivery filter modules capable of removing 3 million tonnes of carbon dioxide per year or the equivalent of project delivery of 3 world-scale carbon capture plants of 1 million tonnes per year’’.

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States.

For further information: www.technipenergies.com.

About Svante

Svante offers companies in emissions-intensive industries a viable way to capture large-scale CO₂ emissions from existing infrastructure, either for safe storage or to be used for further industrial use in a closed loop. With the ability to capture CO₂ directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. Svante’s technology is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors. The CO₂MENT Pilot Plant Project – a partnership between Lafarge (Holcim) and TOTAL Energies – is operating a 1 tonne per day (TPD) plant in Richmond, British Columbia, Canada that will re-inject captured CO₂ into concrete, while the construction and commissioning of a 30 TPD demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 TPD demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. In addition, several feasibility studies for commercial scale carbon capture projects ranging from 500 to 4,500 TPD are underway in North America and Europe.

Svante has attracted more than USD$195 million in investment since it was founded in 2007 including the recent CDN$25 million investment from the Government of Canada’s Strategic Innovation Fund. Svante is building scalable supply chain for active capture materials to address a broad carbon capture and removal solutions offering at Gigaton scale. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu, and Chairman Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website www.svanteinc.com, LinkedIn or Twitter (@svantesolutions).

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

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Technip Energies

Investor relations

Phil Lindsay

Vice-President Investor Relations

Tel: +44 20 7585 5051

Email: Phillip Lindsay

Media relations

Stella Fumey

Director Press Relations & Digital Communications

Tel: +33 (1) 85 67 40 95

Email: Stella Fumey

Jason Hyonne

Press Relations & Social Media Lead

Tel: +33 1 47 78 22 89

Email: Jason Hyonne

Svante

Media relations

Julia McKenna

jmckenna@svanteinc.com

+1 (778) 985 5722

Source: Technip Energies

FAQ

What is the partnership between Technip Energies and Svante about?

Technip Energies partnered with Svante to develop solid sorbent carbon capture technology, focusing on integrated solutions for industrial applications.

What industries will benefit from the Technip Energies and Svante collaboration?

The collaboration targets industries such as cement, hydrogen, petrochemicals, steel, ammonia, and pulp & paper facilities.

How does Svante's technology work for carbon capture?

Svante's technology captures CO2 from industrial flue gases quickly, using solid sorbent filters to enable safe storage or further industrial use.

What are the goals set for carbon capture plants by 2040?

The goal is to deploy over 2,000 carbon capture plants by 2040, averaging around two plants per week.

How does this partnership impact Technip Energies' stock (TE)?

The partnership may enhance Technip Energies' growth prospects and market position in carbon capture technology, which can positively influence its stock performance.