Carbon Alpha, a Calgary-based company focused on carbon dioxide removal, was acquired by Svante, a Vancouver-based carbon management company. The transaction brings Carbon Alpha’s North Star Bioenergy Carbon Capture and Storage, or BECCS, project into Svante’s portfolio, helping strengthen Svante’s expertise in geological CO2 storage.
The project will add carbon capture and storage at the MLTC Bioenergy Center, a forestry biomass cogeneration facility that serves to permanently and safely store captured biogenic CO2 in an underground saline aquifer.
“Today marks an important milestone for Carbon Alpha as we join forces with Svante Development. Our mission has been to accelerate high-integrity carbon dioxide removal through the development of scalable, durable BECCS projects,” Simon Bregazzi, former CEO of Carbon Alpha, said in a statement. “Joining with a globally respected and well-capitalized organization strengthens our ability to advance that mission with greater scale, certainty and impact.”
Following the companies’ combination, the next step for the advanced carbon capture project will be to conduct a front-end engineering design study and a test well drilling campaign. The final investment decision for the project is expected in the first quarter of 2027.
