#Canada #Montreal #Deep Sky #Breakthrough Energy #Direct Air Capture

Deep Sky's $40 Million Grant from Breakthrough Energy Catalyst

In a significant step forward for carbon removal technology, Deep Sky, a project developer situated in Quebec, has received a USD $40 million grant commitment from Breakthrough Energy Catalyst. This funding initiative marks Catalyst's first-ever investment in a Canadian and Direct Air Capture (DAC) project, reflecting a key moment for the carbon removal industry.

The allocated funds will primarily be used for the construction of Deep Sky Alpha (previously known as Deep Sky Labs) and its accompanying research and testing programs aimed at refining DAC technologies. The facility is designed to deploy a variety of innovative DAC technologies to determine which ones can be scaled effectively and at a lower cost—an essential factor for the future of carbon removal.

Scheduled to commence operations in Spring 2025, Deep Sky Alpha will be pivotal in launching projects that embody sustainable and scalable carbon capture solutions. With this grant, Breakthrough Energy Catalyst is not only backing Deep Sky's operational objectives but is also investing in large-scale carbon removal infrastructures across Canada.

Deep Sky's ambitions are supported by renewable energy sources, such as hydroelectric and wind power, complemented by Canada's rich geological makeup that can sustain engineered carbon removal and storage. This strategic approach aims not just to capture carbon but to also ensure its permanent storage, making it an essential player in combating climate change.

Damien Steel, CEO of Deep Sky, expressed his enthusiasm about receiving support from Breakthrough Energy Catalyst, saying, "Securing support from Breakthrough Energy Catalyst marks another milestone for our company and for the DAC industry. This financial backing will be indispensable in helping us realize our ambitious goals and transform our innovative ideas into reality."

Mario Fernandez, Head of Breakthrough Energy Catalyst, echoed this sentiment, emphasizing the importance of the partnership as an opportunity to explore multiple DAC technologies systematically. "The world will ultimately need numerous approaches to carbon removal; our collaboration with Deep Sky will test these innovations in real-world scenarios, thereby paving the way for affordable DAC solutions," he stated.

The wider implications of this development underscore the crucial role of high-quality carbon dioxide removal (CDR) technologies in achieving net-zero emissions and mitigating climate effects. Deep Sky stands firm on its commitment to quickly scale up carbon removal efforts, with further ambitious plans on the horizon.

Deep Sky’s unique approach combines various DAC and ocean capture technologies to offer diverse methods of high-quality carbon credits to the market. This new grant will to facilitate an expansion of their services—enhancing their position in the burgeoning field of carbon solutions.

About the organizations involved:

• - Breakthrough Energy is an initiative aiming to accelerate the transition to a clean energy future by supporting innovative technologies and impactful climate policies globally.
• - Deep Sky positions itself as the world's first tech-agnostic carbon removal developer, working to remove gigatons of carbon from the atmosphere while seeking collaborative opportunities with leading carbon capture companies.

In summation, Deep Sky's acquisition of the grant from Breakthrough Energy Catalyst signals a progressive shift towards science-based solutions that can help avert the catastrophic effects of climate change, showcasing the potential for collaborative innovation in direct air capture technologies.