Inventys, the Canada-based developer of the VeloxoThermTM system, a carbon dioxide (CO2) capture process, has announced that it has closed an equity financing with Husky Energy as a lead investor, raising a total of CAD$10m ($8m).
Proceeds from the transaction will fund a 30-tonne per day (tpd) CO2-capture pilot plant aimed at producing a low-cost CO2-supply solution for Husky’s heavy oil enhanced oil recovery (EOR) programme near Lloydminster, Saskatchewan.
Investys’ President and CEO Claude Letourneau, commented, “We’re very pleased to work with Husky and welcome its investment and industry knowledge.” He continued, “This is the world’s first pilot-scale plant using structured adsorbents to capture CO2 from a once-through steam generator (OTSG) for use in heavy oil recovery.
... to continue reading you must be subscribed
