A Montréal-based carbon removal company with a significant footprint in Alberta announced today a strategic partnership with French energy multinational ENGIE.
Deep Sky develops large-scale, direct-air carbon removal and storage projects, including its first flagship facility, Deep Sky Alpha, in Innisfail, Alta., just south of Red Deer, which was backed by funding from Bill Gates’ climate fund.
Direct air capture (DAC) technology uses various methods to extract carbon directly from ambient air. Deep Sky describes itself as “technologically agnostic,” meaning its DAC facilities deploy, test, and scale multiple methods to achieve carbon removal, typically through partnerships with capture-technology providers.
ENGIE, based in the Paris metropolitan area, is a global energy utility involved in producing electricity as well as managing infrastructure that supports the delivery of that energy. The company has been forthright about its interest in transitioning to more sustainable energy sources and in reducing emissions.
“Partnerships like this help ensure direct air capture can meet growing market demand.”
Charlie Renzoni, Deep Sky
Under the agreement, ENGIE will purchase up to 15,000 carbon removal credits from Deep Sky, with those credits being generated at facilities like Deep Sky Alpha. The company was unable to disclose the market value of that purchase.
The two companies will also collaborate on research and market development around direct air capture, seeking to inform future commercial-scale DAC deployments.
In a statement released today, Deep Sky said that the partnership supports ENGIE’s efforts toward decarbonization, while also contributing to growth within the broader carbon removal economy.
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“ENGIE, with its commitment to net zero by 2045, aligns with the urgency of climate timelines outlined by the [Intergovernmental Panel on Climate Change] and reflects the kind of leadership needed to scale the carbon removal market,” said Charlie Renzoni, vice president of carbon markets at Deep Sky, in a statement released this morning. “Partnerships like this help ensure direct air capture can meet growing market demand by bridging the gap between innovation and industrial-scale deployment.”
BetaKit’s Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.
Feature image courtesy of Deep Sky