Deep Sky, a Montreal, Canada-based carbon removal project developer, received a $40M grant from Breakthrough Energy Catalyst.
The company intends to allocate the amount for the construction of Deep Sky Alpha (formerly Deep Sky Labs) and its associated research and testing of direct air capture (“DAC”) technologies.
Led by CEO Damien Steel, Deep Sky a tech-agnostic carbon removal project developer aiming to remove gigatons of carbon from the atmosphere and permanently store it underground. As a project developer, it combines the direct air and ocean carbon capture companies to bring a supply carbon credits to the market, commercializing and catalyzing carbon removal and storage solutions.
With $130M in funding, Deep Sky is backed by world class investors including Investissement Québec, Brightspark Ventures, Whitecap Venture Partners, OMERS Ventures, BDC Climate Fund, Breakthrough Energy Catalyst, BMO, National Bank of Canada, and more.
The Catalyst program funds large demonstration projects and invests in first-of-a-kind commercial projects that use emerging climate technologies. It prioritizes projects with high-impact and scalable climate tech that need additional capital to reach commercial scale. Alpha is Deep Sky’s first facility and is scheduled to be operational and delivering carbon removal credits by Spring 2025.
FinSMEs
19/12/2024