Decoder.ca

Canadian Tech in 100 Words

 

Deep Sky

Deep Sky Secures $57.5M to Make Canada Carbon Removal Capital

by

Montréal’s Deep Sky, a carbon-capture startup, has secured $57.5 million in Series A funding, and aims to position Canada as the “carbon removal capital of the world.”

Co-led by Brightspark Ventures and Whitecap Venture Partners, with notable investments from Investissement Québec and others, this round, along with a $17.7 million seed note, totals the young company’s funding at $75 million.

Founded in 2022 by Hopper co-founders, Deep Sky plans to use the funds to construct its first commercial facility and develop software for carbon credit sales, leveraging Eastern Canada’s hydroelectric energy for large-scale carbon removal.

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

Deep Sky and Mission Zero Partner To Deploy Direct Air Capture Carbon Removal in Canada

by

Montreal-based Deep Sky and London’s Mission Zero Technologies join forces, set to deploy groundbreaking Direct Air Capture (DAC) facilities in Canada.

Beginning with a 250-ton CO₂ annual capture demo, they plan to construct commercial facilities capturing 100,000 to one million tons yearly.

The DAC system, utilizing renewable hydroelectric energy, will operate at Deep Sky’s Alpha Lab in Quebec. This aligns with Deep Sky’s goal to position Canada as a global carbon removal hub.

Mission Zero’s electrically-powered DAC process, a recognized negative emissions tech, gains traction in diverse climates, shaping a sustainable future.

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

Deep Sky Becomes Scale-Up Partner for XPRIZE Carbon Removal Competition

by

Montreal’s Deep Sky and global pioneer XPRIZE join forces to accelerate carbon removal solutions against climate change.

Deep Sky invites XPRIZE Carbon Removal teams to test their CO2 removal innovations at project Alpha, alongside licensing deals of $1 million each, open to all finalists.

The Musk Foundation-backed $100 Million XPRIZE Carbon Removal competition spans air, oceans, land, and rocks, challenging teams to annually sequester 1000 tons of CO2 by 2050.

Fred Lalonde, Deep Sky Co-Founder, hails the collaboration as a path to creating an industry of change. Executive Director Nikki Batchelor sees visionary support as vital for scaling this critical field.

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