Cross Carbon Ventures targets carbon capture in heavy industries

Svante Inc, Cross River Infrastructure Partners LLC and OTS Ltd, have entered into a commercial Memorandum of Understanding (MoU) that establishes Cross Carbon Ventures (CCV), an independent carbon capture development partnership. 

CCV will explore commercial opportunities in North America to develop, build, own and operate carbon capture projects for carbon intensive industries seeking to decarbonise their operations. CCV will leverage Svante’s innovative technology to capture carbon directly from industrial post-combustion flue gases to produce pipeline-grade CO₂ for safe transportation and storage.

CCV will target the decarbonisation of emissions by heavy industries including cement, steelmaking, petroleum refining, and large-scale hydrogen production through the development of point-source carbon capture projects. 

“Providing large-scale industrial emitters with a Carbon Capture-as-a-Service offering will be integral to scaling up the carbon capture industry along with CO₂ hubs to achieve global decarbonisation targets,” said Aaron Ratner, president of CCV.