Tausi Insider

Svante's carbon-capture demonstration plant in November, 2019, located outside of Lloydminster, Sask. Handout Svante Inc. has raised US$318-million from a group of investors led by a unit of Chevron Corp., securing a new round of financing for plans to speed up the rollout of carbon-capture technology. Svante, based in Burnaby, B.C., has developed patented technology that captures carbon dioxide from smokestacks. Under the proprietary design of “adsorption beds,” CO2 molecules from flue gas adhere to a system of rotating filters made from engineered nanomaterials. “We are proud that Chevron and a group of existing and new strategic and financial investors have demonstrated their confidence in Svante to be a key player in building a commercially viable, carbon management industry,” Svante chief executive officer Claude Letourneau said in a statement. Thursday’s announcement on the Series E fundraising round didn’t provide details on the impact of the latest financing on Svante’s e...

Shopify Inc. SHOP-T is raising prices for three of its service plans after they remained “largely unchanged” for 12 years. The Ottawa-based e-commerce technology company says its basic plan will now cost $51 per month, up from $38, while its mid-range Shopify plan will move from $99 per month to $132 and its advanced plan will increase from $389 each month to $517. Existing merchants that switch their plan from monthly to yearly terms will keep the current, lower monthly prices before the new rates take effect on April 23. In a blog post announcing the changes, vice-president of product and chief operating officer Kaz Nejatian says the resources needed to offer powerful, innovative and reliable tools have changed dramatically. He sees the company is increasing its prices so that it can maintain the same value to merchants. The changes come after Shopify laid off about 1,000 workers last year in the wake of its stock tumbling and customers moving back to pre-pandemic shopping habits. ...

National Bank of Canada NA-T says the head of its wealth management business is retiring. The bank says Martin Gagnon, executive vice-president, wealth management, as well as co-chief executive of National Bank Financial, will step down on April 1. Until Gagnon’s successor is named, National Bank says Denis Girouard, executive vice-president and co-head, financial markets, will lead wealth management on an interim basis. Girouard has co-led the financial markets division since 2016. Etienne Dubuc, currently co-head of financial markets, will become sole head of the financial markets group. He joined the bank’s senior leadership team in November 2022. https://www.tausiinsider.com/national-bank-makes-senior-executive-changes-with-wealth-management-head-set-to-retire/?feed_id=322226&_unique_id=63d63ca7e3a27

Svante's carbon-capture demonstration plant in November, 2019, located outside of Lloydminster, Sask. Handout Svante Inc. has raised US$318-million from a group of investors led by a unit of Chevron Corp., securing a new round of financing for plans to speed up the rollout of carbon-capture technology. Svante, based in Burnaby, B.C., has developed patented technology that captures carbon dioxide from smokestacks. Under the proprietary design of “adsorption beds,” CO2 molecules from flue gas adhere to a system of rotating filters made from engineered nanomaterials. “We are proud that Chevron and a group of existing and new strategic and financial investors have demonstrated their confidence in Svante to be a key player in building a commercially viable, carbon management industry,” Svante chief executive officer Claude Letourneau said in a statement. Thursday’s announcement on the Series E fundraising round didn’t provide details on the impact of the latest financing on Svante’s e...