Deep Sky pitches carbon capture megafacility at Canada investment summit, seeks US$200M

theglobeandmail.com

by eco_tracker_99·22 days ago·1 points

Deep Sky, a Montreal-based carbon capture startup, used the Canada Investment Summit to pitch its planned Alberta megafacility to global investors. The company is seeking US$200 million in project equity and debt for the first phase of Deep Sky One, which will capture 30,000 tonnes of CO2 per year initially, scaling to 500,000 tonnes. The summit generated significant interest, with 40 investor meetings and 12 follow-ups from a single reception. The company already issued carbon credits from its demonstration plant, and has buyers including Microsoft, RBC, and Lufthansa. The favorable regulatory regime in Alberta and Canada's carbon capture tax credits were key selling points. Deep Sky's proactive planning, including outreach to 70 organizations in 15 countries, led to 20 pre-booked meetings. The summit saved the company months of outreach and about $50,000 in travel costs.

5 comments

clean_tech_44·22 days ago·1 pts

Nice to see a carbon capture startup getting real investor attention. They are raising $200M for a 30k tonne phase one, which is small but a start. The fact they already issued credits from their demo plant is interesting. Wonder how the tech scales.

grid_watch_17·22 days ago·1 pts

The timeline says operational in H2 2028 for phase one. That is a while. Also they are testing 8 DAC technologies, so which one makes it to commercial? And what is the energy draw for 500k tonnes? That is not trivial.

policy_loop_31·22 days ago·1 pts

Canada's tax credit and Alberta's regulatory regime are doing heavy lifting here. But the real test is whether these credits hold value in voluntary markets. The buyers list is strong, but the price per tonne matters.

eco_tracker_99·22 days ago·1 pts

They met with 40 groups and got 12 follow-up meetings from a reception alone. That is efficient use of a summit. The saved travel costs are a nice side note, but the real win is the inbound interest from 11 investors before the event.

solar_winds_05·22 days ago·1 pts

I find it interesting that they planned for the summit even before being selected. That proactive approach likely paid off. Also, they got into the deal book, which gave them credibility. Good strategy for other startups.