Canadian Startup Gets $40m for Carbon Removal from Gates
Deep Sky's Alberta site will explore how DAC works in Canada's harsh, cold climates.
The startup is stepping up its processes to address climate change as soon as possible by running multiple stages of development.
Deep Sky, a Montreal-based carbon capture and removal startup, has received a $40 million grant from Bill Gates's Breakthrough Energy.
Deep Sky is a climate startup focused on creating a testing site in Alberta, Canada, for Direct Air Capture (DAC) technologies. DAC is a technology used to capture carbon dioxide (CO2) directly from the air.
This technology plays a larger role today because UN scientists say the world must remove billions of tonnes of CO2 from the atmosphere annually and implement concrete measures and actions to reduce current emissions.
READ MORE: Deep Sky Secures $2.5M for Carbon Removal in Québec
DAC technology has great potential to remove large amounts of CO2 from the air, but its wider adoption is not gaining traction due to factors like its energy-intensive nature, high cost, and current limitations. To this end, Deep Sky is scaling up the 'Alpha' DAC test ground, where a maximum of eight companies can test and refine their DAC technologies.
The companies involved in the testing are Airhive, Mission Zero, Skyrenu, Skytree, NEG8 Carbon, Greenlyte, and Phlair. The aim is to develop technologies that can then be scaled up to commercial plants capturing CO2 on a larger scale.
Breakthrough Energy Catalyst is a unit of Bill Gates's Breakthrough Energy, which focuses on backing early-stage climate tech companies. It aims to lower the cost of green technologies and make them commercially viable.
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Source: Reuters
