Wild Assets, a global asset manager focused on carbon removal, announced that it has signed a 7-year agreement with Canada-based Deep Sky.
Under the agreement, Deep Sky will deliver up to 10,000 carbon removal credits from its direct air capture (DAC) operations at its first-of-its-kind innovation and commercialization center, Alpha.
As Deep Sky stated in a publication, this deal marks the first time that carbon removal credits will be treated as assets and not just as offsets.
In the Canadian province of Alberta, Deep Sky has created a novel testing center that will deploy up to 10 different DAC technologies at the same time, monitoring their performance and implementing optimizations that would up the efficiency and reduce the costs traditionally associated with this tech-powered carbon removal approach.
This vision of next-gen DAC has already gained $40 million in support from Bill Gates’s Breakthrough Energy Fund, as well as $3.6 million from the government of Alberta, along with carbon credit deals that underline the interest and trust of buyers in Deep Sky’s solutions.
Deep Sky’s innovative approach to DAC is also what attracted Wild Assets to invest in the company’s carbon credits.
The asset company has stated, “We view this as the first project in DAC’s post-experimental era—one that offers exceptionally high-quality carbon dioxide removal at competitive prices both within and beyond its category.”
Relevant: Frontier Infrastructure And Wild Assets Sign Major Deal For Carbon Removal Credits
For Wild Assets, the deal with Deep Sky comes shortly after the company announced an agreement for 120,000 tonnes of CDR from bioenergy with carbon capture and storage (BECCS) to be delivered by Frontier Infrastructure Holdings.
As they embark on the collaboration with Deep Sky, they call on other investors and deal participants to join in on this opportunity.
Deep Sky has shared that the Alpha DAC innovation and commercialization center in Alberta is fully constructed, with operations slated to begin in summer 2025 and the first carbon removal credits expected to be generated by the end of this year.
Read more: Govt Of Alberta Supports Deep Sky Alpha With A $3.6M Investment
