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Canadian Banks Back Deep Sky’s Ambitious Carbon Removal Initiative

October 31, 2024 by Newsdesk

Deep Sky, a Montreal-based carbon removal developer, secured $2.5 million from National Bank of Canada and BMO to advance its carbon removal infrastructure. The funding will support planning and geological surveys in Québec, with target areas in Bécancour and Thetford Mines, chosen for their renewable resources and skilled workforce.

Deep Sky CEO Damien Steel hailed this as a significant step toward curbing climate change, noting the potential for increased financial backing. National Bank’s Debby Cordeiro emphasized the bank’s commitment to low-carbon solutions. Deep Sky’s future projects aim to establish CO2 removal sites in Alberta and Québec.

Want to know more? Check out the source code on CleanEnergy.ca.

Filed Under: News Tagged With: Deep Sky

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