Svante Acquires Carbon Dioxide Removal Project Developer, Carbon Alpha Corp.

(BUSINESS WIRE)--Svante Technologies Inc. (Svante), a leader in carbon management, and Calgary-based Carbon Alpha Corporation (Carbon Alpha) today announced that Svante has acquired Carbon Alpha and its related subsidiaries, including Carbon Alpha Development Corp. and its ownership interests in North Star Carbon Solutions Corp. and North Star Carbon Solutions Limited Partnership, a project developer for carbon capture and storage (CCS) in Western Canada. With this transaction, Carbon Alpha’s flagship North Star Bioenergy Carbon Capture and Storage (BECCS) project, developed in partnership with the Meadow Lake Tribal Council (MLTC) in Saskatchewan, joins Svante’s business unit portfolio alongside Svante Development Inc.

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This transaction strengthens Svante’s expertise in geological CO₂ storage as part of a fully integrated carbon management company ready to build, own, and operate all elements of the CCS value chain from source to sink. Svante’s combined offering now includes a portfolio of engineering solutions for carbon capture and removal across various market segments and a major CO₂ storage hub asset in Western Canada.

Carbon Alpha’s North Star Project will add carbon capture and storage (BECCS) at the existing MLTC Bioenergy Centre, a forestry biomass cogeneration facility, permanently and safely storing captured biogenic CO₂ deep underground in a saline aquifer -- measuring, monitoring and generating high‑quality, durable carbon dioxide removal (CDR) credits. MLTC represents nine First Nations in Saskatchewan. MLTC will be co-owner with Svante in the BECCS facility. Additionally, a new CO₂ pipeline developed by Carbon Alpha will connect the capture facility to permanent geological storage southwest of Meadow Lake, SK. This major CO₂ hub asset offers expansion opportunities to aggregate and service other biogenic CO₂ emitters in the region.

The MLTC Bioenergy Centre generates renewable electricity and heat by burning sustainable waste biomass from the neighboring sawmill. Phase 1 of the North Star Project will capture up to 140,000 tonnes of CO₂ per year from the Bioenergy Centre’s flue gas (the main source of the facility’s biogenic CO₂ emissions) and other onsite sources.

“This project is a game changer for Svante and a pivotal moment for scaling verifiable, durable engineered carbon removal solutions working in tandem with nature,” said Claude Letourneau, President & CEO of Svante. “By integrating Carbon Alpha’s team, we’re accelerating the delivery of high‑integrity CDR credits at commercial scale in partnership with the MLTC leadership, who is closely coordinating with us on the North Star Project.”

“Today marks an important milestone for Carbon Alpha as we join forces with Svante Development. Our mission has been to accelerate high-integrity carbon dioxide removal through the development of scalable, durable BECCS projects. Joining with a globally respected and well capitalized organization strengthens our ability to advance that mission with greater scale, certainty, and impact,” said Simon Bregazzi, former CEO of Carbon Alpha.

“The Meadow Lake Tribal Council (MLTC) is excited to embark on the next stage of the North Star BECCS Project, in partnership with Svante and Carbon Alpha. North Star provides economic development, full-cycle carbon sustainability, and added value to MLTC’s existing green energy infrastructure and forestry-based operations. It enables the MLTC First Nations to create ongoing economic development, jobs, environmental leadership and optimism for our people,” said Tribal Chief Jeremy Norman of MLTC.

The next steps for this advanced carbon capture project will be to conduct a FEED (front end engineering design) study and test well drilling campaign. The lease of the space and test well license have already been obtained. The final investment decision (FID) for the project is expected in Q1-2027.

Transaction Highlights

• Business Unit integration: Carbon Alpha’s team and North Star BECCS project (Meadow Lake, SK), have become part of Svante Development Inc.
• Indigenous partnership: Svante reaffirms North Star’s partnership model with MLTC, prioritizing local jobs, skills development, and enduring economic benefits for participating First Nations.
• Standards & integrity: North Star remains aligned to Puro.earth’s Geologically Stored Carbon methodology pathway and will continue to advance a rigorous MRV framework.
• Schedule: FID is expected in Q1-2027. An updated development and commissioning schedule will be established following test drilling program, permitting and regulatory approvals.

About North Star (Meadow Lake, Saskatchewan)

North Star integrates BECCS with the existing MLTC Bioenergy Centre. The project design aims to capture biogenic CO₂ from biomass to power, compressing and transporting it to a dedicated injection well for safe, permanent geological storage, producing durable carbon removal credits. North Star has been listed as a Future Facility on the Puro.earth platform following preliminary assessment and is recognized in Canada’s CDR landscape for Indigenous ownership and community benefit design. Read more about the North Star project here: https://www.carbonalpha.com/northstar.

About Meadow Lake Tribal Council

MLTC was formed in 1981 and represents 9 First Nations located in Northwest Saskatchewan. MLTC invests in businesses to meaningfully participate in Saskatchewan's economy, supporting economic reconciliation in a rural and remote area of the province. 100% of the distributions flow to the 9 First Nations, to foster local economic growth; enhance on-reserve education; healthcare; youth and elder programs; housing; and other community social and infrastructure needs.

About Svante

Svante is a purpose-driven, leading carbon capture and removal solutions provider. The company makes nanoengineered filters and modular rotating contactor machines that capture and remove CO₂ in an environmentally responsible way from industrial emissions and the air. Svante is on the 2025 Global Cleantech 100 Hall of Fame and TIME & Statista’s list of Top Greentech Companies of 2025. For more information, visit www.svanteinc.com.

About Carbon Alpha

Carbon Alpha is a Canadian leader in carbon dioxide removal, specializing in the design, development, and operation of BECCS projects that generate durable, high-quality carbon removals. Headquartered in Calgary and founded in 2021, its multidisciplinary team of technical experts delivers fully integrated carbon storage solutions from early-stage feasibility and engineering through construction, operations, and credit generation.

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