ESG Today writes that CGF was inaugurated in 2023 and pledged 15 billion USD for investments over five years to support clean developments in Canada, as well as to attract private investments for low-carbon projects. This marks CGF's seventh investment so far, which pledged a total of almost 1.3 billion USD for clean economy projects.

Patrick Charbonneau, President and CEO of CGF Investment Management, said that "CGF is working to accelerate the deployment of key Canadian carbon capture technologies, and to scale the manufacturing and export of promising solutions to showcase Canadian technologies internationally. Svante has a tremendous market opportunity, globally and here at home, and we look forward to supporting this company in its growth."

Svante, a Canadian company founded in 2007, provides direct air carbon capture technologies to help factories and other industrial facilities remove CO2 emissions. The company is currently building a new facility for manufacturing carbon-absorbing filters which could have an annual removal capacity of 10 million tons of CO2.

The investment received through CGF will contribute to the construction of the facility, which was already financed with 145 million USD from Svante's own capital.