Inventys closes $10 million financing from Husky for heavy oil CO2 capture tech

Inventys’ self-contained 0.5 tonne per day VeloxoTherm field demonstration plant at Husky Energy's Pikes Peak South Lloyd thermal project. Image: CNW Group/Inventys

Burnaby, B.C.-based Inventys is moving forward with a 30-tonne per day pilot plant to capture CO2 at a Husky Energy steam generator for enhanced oil recovery after closing a $10 million equity financing led by the oil producer.

Inventys’ next-gen carbon capture technology will be deployed at Husky's Pikes Peak South Lloyd thermal project near Lloydminster, Saskatchewan. The low-cost CO2-supply it provides will be used to enhance recovery of heavy oil from adjacent assets.

"This is the world's first pilot-scale plant using structured adsorbents to capture CO2 from a once-through steam generator for use in heavy oil recovery," Claude Letourneau, Inventys president and chief executive officer, said in a statement.

"Canada offers the perfect setting to prove our second generation carbon capture technology, reduce carbon emissions, uphold Canada's climate goals, create jobs and support industrial growth."

Inventys announced the first tranche of its current Round B-11 financing process Tuesday, which also includes investments from existing investors The Roda Group and Chrysalix Energy Venture Capital.

Inventys’ VeloxoTherm system combines a patented solid adsorbent structure with a rapid cycling temperature swing adsorption process. The company said the three-step process maximizes carbon capture productivity, cuts capital costs and reduces regeneration energy.

Earlier this year, Inventys commissioned a self-contained 0.5 tonne per day VeloxoTherm field demonstration plant at the same Husky site as a platform for rapid development of the new adsorbent structures. Test results over the next six months will shape the design of the 30 tonne per day plant. The pilot plant is planned to be commissioned in the fall of 2018.

Inventys’ structured adsorbent is a platform technology used in gas separation processes, including the VeloxoTherm process. It is used to capture high purity CO2 from dilute flue gas from coal and gas-fired power plants and industrial processes using proprietary solid structured adsorbent materials.

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.