Inventys Thermal Technologies, a Canada based team of gas separation specialists developing what they believe is a "breakthrough" low-cost carbon capture technology, reports it has closed additional financing. Building on continued funding support from international venture capital firm, Mitsui Global Investment (MGI), and cleantech investor, The Roda Group, the new financing includes participation from Chevron Technology Ventures LLC (CTV), the venture capital arm of Chevron Corporation, and Chrysalix Energy Venture Capital, one of the longest serving cleantech venture capital firms. The funding will be used to expand manufacturing and enable the deployment of full-scale systems with leading energy and manufacturing companies in late 2016.
Inventys’ gas separation system, VeloxoTherm (see Modern Power Systems, May 2013, pp 40-42), is based on proprietary low-pressure temperature swing adsorption (TSA) technology "resulting in an estimated carbon capture cost of USD $15 per tonne – one third the cost of today’s post-combustion solutions."
"At a fraction of the size of other systems," says Inventys, "the flexibility to integrate into new and existing combustion and chemical processes, and the unique ability to regenerate the CO2-saturated adsorbent using minimal energy", the technology represents a "practical approach" that would enable "the widespread adoption of CO2 enhanced oil recovery (EOR) and carbon capture and sequestration (CCS)."
The new financing follows the company’s successful in-house, full system pilot testing incorporating real flue gas and a rotating adsorption machine from Howden, and the announcement that former US Energy Secretary, Dr Steven Chu, has joined the Inventys board of directors.