Canada-based carbon removal company Deep Sky announced that it has secured $40 million in funding from the Breakthrough Energy Catalyst program.
The investment, conditioned by the fulfillment of certain funding criteria, will be used towards the construction of Deep Sky Alpha, a large-scale direct air capture (DAC) test hub, formerly known as Deep Sky Labs.
Positioned in Montreal, Deep Sky has developed several climate-oriented projects that tackle the issue of excess CO2 emissions in the atmosphere via carbon removal technology.
Deep Sky Alpha is set to become a first-of-its-kind cross-technology test center that will evaluate different DAC mechanisms, identifying optimal low-cost solutions with a potential for large-scale, commercial deployment.
The facility will be powered by renewable solar energy, with plans for injecting the CO2 captured at the site into sedimentary storage at a depth of 2 km underground, where it will remain for thousands of years.
As announced by Deep Sky, the Alpha hub is set to begin operations in 2025, delivering high-quality CO2 removal credits to the voluntary carbon market.
For Breakthrough Energy Catalyst, this investment represents the company’s first venture into direct air capture technology, marking its first instance of supporting a Canadian project.
Established to provide financial support to large-scale demonstration and commercial-level climate tech projects, the Catalyst program concentrates on funding high-impact, scalable solutions.
Relevant: Deep Sky Sells 10,000 Carbon Removal Credits To Microsoft And Royal Bank Of Canada
Commenting on the collaboration, Mario Fernandez, Head of Breakthrough Energy Catalyst, stated, “We’re proud to support Deep Sky Alpha because it offers a unique opportunity to demonstrate several direct air capture technologies and gain a deeper understanding of their potential to lower costs and scale—all while delivering permanent carbon removal.”
Damien Steel, Deep Sky CEO, stated that this investment represents a milestone for their company and DAC technology in general, noting that the partnership with Breakthrough Energy Catalyst has already been transformative for Deep Sky.
United by the vision of advancing high-quality carbon dioxide removal (CDR) technologies to climate-relevant scales, DeepSky and Breakthrough Energy Catalyst are well on their way to reshaping the CO2 removal industry.
Read more: Deep Sky Secures $1.8M From National Bank Of Canada And BMO
