Calgary’s Entropy has inked a groundbreaking carbon offtake deal with the federal government, marking a significant stride in Canada’s decarbonization efforts.
The Canada Growth Fund is investing $200 million in Entropy, also offering a fixed-price carbon credit framework. This 15-year agreement involves purchasing up to 185,000 tonnes of carbon credits annually at $86.50 per tonne.
Entropy’s CEO, Mike Belenkie, highlights the deal’s role in mitigating investment risks, enabling the advancement of their $49 million carbon capture project in Alberta. This pact reflects the government’s commitment to bolstering clean technology, promising a stable future for similar investments.