Deep Sky
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Deep Sky Secures $40M Grant from Breakthrough Energy Catalyst to Scale Direct Air Capture
Deep Sky, the Quebec-based carbon removal project developer, announced that it has secured a USD $40 million grant commitment from Breakthrough Energy Catalyst (“Catalyst”). The funds, subject to the satisfaction of funding conditions, will be allocated to the construction of Deep Sky Alpha (formerly Deep Sky Labs) and its associated research and testing of direct air capture (“DAC”) technologies. Deep Sky Alpha will deploy multiple innovative DAC technologies to test and identify the most promising technologies, as part of Deep Sky’s aggressive initiative to lower the cost of large-scale commercial carbon removal. This marks Catalyst’s first-ever investment in both a Canadian and Direct Air Capture (DAC) project.
The Catalyst program funds large demonstration projects and invests in first-of-a-kind commercial projects that use emerging climate technologies. It prioritizes projects with high-impact and scalable climate tech that need additional capital to reach commercial scale. Alpha is Deep Sky’s first facility and is scheduled to be operational and delivering carbon removal credits by Spring 2025.
With this grant commitment, Catalyst is supporting Deep Sky’s efforts to build large-scale carbon removal and storage infrastructure in Canada. As a project developer, Deep Sky is working to bring together the most promising direct air and ocean capture technologies to accelerate delivery of high-quality carbon removal credits to the market. Powered by renewable energy, Deep Sky’s facilities are strategically located in Canada, a region with all of the natural resources to become a world leader in carbon removal. Hydroelectric power, wind power potential, and a rich geological makeup make it an ideal place for engineered carbon removal and storage.