Samsung Engineering and Svante Technologies Sign MoU for CCUS Projects in Asia and the Middle East

Samsung Engineering has announced a partnership with Svante Technologies Inc., involving the signing of a memorandum of understanding (MoU) to develop and execute commercial carbon capture, utilization and storage (CCUS) projects. These projects, targeting industries such as cement, steel, hydrogen, and fertilizers, among others, will be rolled out in Asia and the Middle East. The projects will utilize Svante's innovative solid sorbent-based carbon capture filter technology.

Furthermore, the two companies plan to explore design modifications for Svante's post-combustion carbon capture facilities. This MoU was finalized at the ADIPEC 2023 conference in Abu Dhabi, UAE on October 4, 2023. Samsung Engineering, one of the top engineering, procurement, and construction (EPC) and project management companies globally is well-poised to spearhead the energy transition.

The combination of Samsung Engineering's extensive project experience and Svante’s novel approach to carbon capture and removal positions this partnership to offer innovative solutions for heavy industries seeking to reduce their carbon footprint. An essential goal for Samsung Engineering is to evolve into a ‘’Beyond EPC – Green Solution Provider’, transforming itself into a green solutions provider, beyond the conventional EPC role, with significant efforts to decarbonize its operations.

Hong Namkoong, President & CEO of Samsung Engineering, emphasizes that CCUS industry players need to rethink their project approach to improve efficiency, cost-effectiveness and speed. Using the same EPC contractor for multiple projects can significantly enhance project performance.

Svante has innovated a unique, environmentally friendly carbon capture and removal technology, utilizing “structured adsorbent beds” or “filters”. These filters, infused with nanoengineered solid adsorbent materials, can capture CO2 from industrial emissions from industries producing hard-to-decarbonize commodities such as cement, steel, fertilizer, hydrogen, etc. Svante's filter technology can also trap and remove CO2 already emitted into the atmosphere, a system known as direct air capture (DAC).

Claude Letourneau, Svante’s President and CEO, expressed delight at welcoming Samsung as a commercial collaborator and an investor in Svante. He believes that Samsung Engineering's long-standing expertise in the energy and industrial sectors will be instrumental in scaling Svante's operations and filter manufacturing capacity.

The alliance between the two companies aims to identify, develop, and execute large-scale carbon capture projects in the Asian and Middle Eastern markets. This will provide heavy industries in these regions with feasible solutions to meet their emission reduction goals. Moreover, it is anticipated to offer clients a comprehensive project delivery model for carbon capture plants, thereby improving industrial project management and performance optimization.