Deep Sky, a Canadian carbon removal company, has announced a partnership with Japan's SMBC Group and an offtake agreement with TD Bank Group. The deal aims to strengthen the Canada-Japan carbon removal corridor, facilitating the development and scaling of direct air capture and other carbon removal technologies. The agreement with SMBC involves strategic collaboration on project financing and market development, while TD has committed to purchasing carbon removal credits from Deep Sky's future projects. This marks one of the first major cross-border carbon removal offtake agreements involving a Canadian project developer and a Japanese financial institution. The deal signals growing corporate demand for high-quality carbon removal credits and highlights the role of international partnerships in scaling the carbon removal industry. It also reflects increasing interest from major banks in financing carbon removal infrastructure.
