3M, a renowned science and manufacturing company, has recently collaborated with Svante Technologies, a carbon capture and removal firm, to create Direct Air Capture (DAC) products that aim to capture carbon dioxide directly from the air and permanently remove it. This partnership is an affirmation of the companies’ commitment to providing materials science-based solutions to reach net-zero emissions and fight global warming.
3M has over 120 years of expertise in producing and supplying materials science-based solutions at an unmatched scale. The company manufactures a wide range of products, from building materials and adhesives to medical and cleaning supplies. By working with Svante, 3M brings its massive experience and expertise in the carbon dioxide removal (CDR) industry. Ray Eby, an executive from 3M, asserts the company’s commitment to scaling up climate tech solutions, saying that: “3M is committed to helping build a low-carbon economy… We are driven by a need to solve the world’s most pressing challenges, and our partnership with Svante to create innovative climate solutions is an exciting prospect for us.”
3M is eager to scale the production of carbon removal materials over the next decade, just like how the company tripled the supply of N95 respirators during the early days of COVID-19. Through its 51 tech platforms, 3M innovates and creates new technology capabilities to meet the growing needs of the industry. This is important in meeting the demand for CDR, which climate scientists believe is critical in achieving the Paris goal. CDR solutions include bioenergy combined with CCUS (BECCS) and direct air carbon capture with storage (DACCS or DAC).
The market for carbon removal is expanding rapidly, with investments pouring in from large companies wanting to help early-stage CDR tech startups scale up and bring costs down. The industry has its own dedicated venture capital fund called Counteract, while government support has reached billions of dollars. Joining the CDR supporters and investors, the venture capital arm of 3M, 3M Ventures, participated in Svante’s Series E fundraising. The said round raised $318 million to accelerate the manufacturing of Svante’s carbon capture and removal technology.
Svante Technologies manufactures solid sorbent-based filters and rotary contactor machines that capture large-scale carbon emissions for storage or further industrial use. Its filters are available for point-source capture from hydrogen, cement, steel, aluminum, pulp & paper plants, and refineries, and DAC applications. Because of the broad range of markets Svante serves, the company’s CEO Claude Letourneau says Svante’s tech is applicable to 85% of the total carbon capture and removal market. By adding 3M into their global partners, it will further help Svante in capturing millions of tons of CO2 worldwide.
In order to help meet that goal, 3M has to scale the production of DAC materials over the next few years. It will be the company’s first CDR products in the U.S. for Svante’s DAC applications. The joint development agreement between the companies focuses on developing and manufacturing carbon adsorbent technology for the carbon removal industry. This venture is part of 3M’s plans to invest about $1 billion to accelerate new environmental goals, and one of them is to be carbon-neutral by 2050.
3M’s commitment to providing materials science-based solutions to reach net-zero emissions and fight global warming is an important step towards a sustainable future. The partnership with Svante Technologies to create innovative climate solutions is a significant move towards achieving this goal.
