Bill Gates-backed fund supports carbon capture startup Deep Sky

Bill Gates’ Breakthrough Energy Catalyst programme has committed $40 million to Deep Sky Corp., a Montreal-based carbon-capture startup aiming to build large-scale facilities to clean carbon from the atmosphere.

Deep Sky plans to construct its first plant in Innisfail, Alberta, with a total investment exceeding C$100 million ($70 million). The facility will test and scale promising carbon removal technologies, with operations set to begin by 2025.

The startup has already secured carbon removal credit agreements with Microsoft and Royal Bank of Canada and raised over C$130 million from investors, including Bank of Montreal and the Quebec government.

Deep Sky’s efforts contribute to a nascent industry striving to make carbon capture more affordable, addressing the high current costs of hundreds to $1,000 per ton. “Deep Sky’s platform will accelerate innovation to achieve affordable direct air capture,” said Mario Fernandez, head of Breakthrough’s Catalyst program.

Attribution: Bloomberg

Subediting: M. S. Salama