Deep Sky and TD Bank Group sign 10 year carbon credit deal for direct air capture projects

Deep Sky has signed a 10 year agreement to sell carbon credits to TD Bank Group. The credits will come from direct air capture projects that Deep Sky is developing in Canada. This is one of the longer term corporate offtake deals in the Canadian carbon removal market and gives TD a way to offset residual emissions. The deal structure matters for the broader carbon credit market. A decade long commitment from a major bank signals that buyers are willing to lock in prices for engineered removal credits. For Deep Sky, the revenue certainty helps with project financing. The key question is whether the projects can deliver on schedule and at the scale needed to fulfill the contract.