Deep Sky, a Canadian carbon removal project developer, has joined forces with carbon capture solutions provider Svante Technologies to conduct a study on carbon sequestration in Quebec. The partnership aims to evaluate the feasibility of permanent geologic CO2 storage in the province, marking Deep Sky’s first venture into carbon capture and storage (CCS) technologies. This collaboration is crucial in the pursuit of global net zero emissions and the fight against climate change.
The rapid evolution of CCS technologies is driven by the urgent need to address environmental challenges and meet the growing corporate demand for high-quality carbon removal credits. While many carbon capture technologies exist, they are mostly in the early stages and require a deep understanding of their costs and impacts to be scaled effectively. Deep Sky, with its team of expert researchers, scientists, and entrepreneurs, is well-positioned to develop and commercialize CCS technologies through collaborations.
Fred Lalonde, the co-founder of Deep Sky, emphasized the importance of working with major industry players to drive meaningful changes. He stated that the partnership with Svante, along with Sproule’s geology research, will enable them to reduce greenhouse gas emissions and deliver carbon credits to the market at a rapid pace. Svante has developed innovative carbon removal technology using solid sorbent-coated filters that can capture up to 95% of industrial carbon emissions. These filters are suitable for point-source capture from various industrial plants and can contribute to direct air capture (DAC) applications.
Claude Letourneau, CEO and President of Svante, highlighted the critical need to find geographical locations with substantial and safe storage potential for DAC to succeed. Leveraging Quebec’s unique geology and abundant renewable and hydroelectric energy, Svante aims to safely trap and store CO2 in deep underground saline aquifers. While engineered carbon removal using DAC and other methods is maturing, the challenge lies in scaling these technologies to gigaton levels.
Deep Sky’s mission is to build gigaton-scale carbon removal and storage infrastructure in Quebec and across Canada. As a project developer, the startup aims to commercialize climate solutions at scale by bringing together the most promising CDR technologies. Supported by the government of Quebec, a large Ontario pension fund, and renowned private investors, Deep Sky is well-positioned to leverage Quebec’s CCS potential.
Tech-based carbon sequestration technologies offer greater removal potential and scalability compared to nature-based approaches, which face land availability constraints. While forests can remove about 5 tons of CO2 per hectare of land, a DAC plant can capture up to 50,000 tCO2 for the same land area, making it 10,000 times more land-efficient. However, tech-based CDR methods also face challenges related to energy use, as carbon capture technologies require significant amounts of energy to capture CO2. To address this, Deep Sky is partnering with Svante, whose carbon capture technologies are energy-efficient and scalable at gigaton levels.
Technological carbon sequestration methods are known to produce high-quality and reliable carbon removal credits, making them highly sought after as the demand for CDR increases. Deep Sky believes that the demand for premium CDR credits will grow exponentially, positioning the company as a key player in the CDR market. To capitalize on this market growth, Deep Sky is currently raising a $50M Series A round to build its initial pilot facility, Deep Sky Alpha, and lay the groundwork for its first large-scale facility, Deep Sky One.
The recent surge in CDR credit purchases and corporate net zero commitments further indicates the bright market projection for Deep Sky. Quebec’s ideal geological makeup for carbon storage, renewable resources, and supportive policies also give Deep Sky a unique advantage in delivering high-quality CDR credits. The collaboration with Svante Technologies sets the stage for a gigaton-scale climate solution and reinforces Deep Sky’s position as a leader in carbon removal projects.