By Rebel News | Created at 2024-12-18 22:51:16 | Updated at 2024-12-19 01:59:44
3 hours ago
A Montreal-based company operating north of Calgary, Alberta has just pocketed a US$40-million grant from a firm with ties to Bill Gates.
Canadian startup Deep Sky received a grant from Breakthrough Energy Catalyst, a venture capital firm, to construct its Deep Sky Alpha project — the world's first direct air capture carbon removal, reported the Canadian Press.
When completed, the project will remove excess carbon dioxide (CO2) from the atmosphere to combat 'climate change' – differing from carbon capture and storage, which takes CO2 from smokestacks.
On December 7, 2023, Alberta Premier Danielle Smith said her cabinet is committed to attracting investment and achieving carbon neutrality by 2050.
"We've been responsible by setting a price on carbon as far back as 2007, developing a carbon offset and trading program, investing billions in commercial-scale carbon capture utilization and storage, and creating an innovation fund that has so far supported more than 260 emissions-reducing projects with $2.6 billion worth of grants," she said at the time.
Breakthrough Energy Catalyst funds commercial projects that focus on climate technologies. Wednesday’s announcement marks their first investment in Canada.
Mario Fernandez, head of Breakthrough Energy Catalyst, said commercializing direct air capture technologies at lower costs and scale presents a unique opportunity.
"The world will ultimately need many approaches to carbon removal at prices far lower than is achievable today, but Deep Sky's platform will enable and accelerate the kind of real-world innovation that could make affordable [direct air capture] achievable," Fernandez said.
On March 13, rural towns and regional governments across Saskatchewan voted overwhelmingly (95%) to recognize CO2 as not a pollutant at the Saskatchewan Association of Rural Municipalities (SARM) convention.
The adopted resolution called on Premier Scott Moe to remove the province from all national and international net zero agreements.
United Conservative delegates passed a similar non-binding resolution last month, noting that CO2 is a "foundational nutrient for all life on Earth."
"The carbon cycle is a biological necessity. CO2 is presently at around 420 ppm, near the lowest level in over 1000 years. It is estimated that CO2 levels need to be above 150 ppm to ensure the survival of plant life," it reads.
"The earth needs more CO2 to support life and to increase plant yields, both of which will contribute to the Health and Prosperity of all Albertans."
Premier Smith earlier praised the province’s efforts to reduce emissions as an "effective made-in-Alberta plan" that works congruently with natural resource development.
Deep Sky, being built in the town of Innisfail, will pull CO2 directly from the air to supposedly clean up 'historic emissions' and reverse 'climate change.'
Deep Sky says it will pilot up to 14 direct air capture projects from companies around the world to see which can be commercialized. The captured CO2 will then be transported to the Meadowbrook Carbon Storage Hub facility north of Edmonton, where it will be stored two kilometres underground.
Deep Sky intends to have its Alpha project fully operational by next spring.
"Securing support from Breakthrough Energy Catalyst marks another milestone for our company and for the DAC industry," Deep Sky CEO Damien Steel said in a news release.
"The financial backing from Breakthrough Energy Catalyst will play a crucial role in helping Deep Sky realize its ambitious goals."
Alex Dhaliwal
Calgary Based Journalist
Alex Dhaliwal is a Political Science graduate from the University of Calgary. He has actively written on relevant Canadian issues with several prominent interviews under his belt.
