<a href="https://www.deepskyclimate.com/">Deep Sky</a>, the Montreal-based carbon removal project developer, has secured investment from two of Canada’s preeminent financial institutions. National Bank of Canada and BMO have collectively invested $2.5M CAD, demonstrating their support of Deep Sky’s development of carbon removal infrastructure.The fresh capital will be used for project exploration and future commercial site planning in Québec, including ongoing research on in situ mineralization in Thetford Mines and geological surveys for sedimentary storage in Bécancour, Québec. The province of Québec remains ideally positioned for carbon removal infrastructure projects, benefiting from affordable renewable electricity, experienced mining workforce and favorable geological conditions.“This is a major signal that two of Canada’s leading banks recognize carbon removal as a strategy to address climate change,” said Damien Steel, Deep Sky CEO. “We hope this is the beginning of a trend to catalyze an influx of capital from financial institutions to this innovative technology that serves as one of our best chances of curbing global warming. National Bank of Canada and BMO are trailblazers who know we must act now.”“At National Bank, we believe it’s important to support emerging technologies to effectively navigate the transition to a low-carbon economy. We are proud to support Deep Sky’s efforts in helping to tackle the climate crisis,” said Debby Cordeiro, Senior Vice-President, Communications, Public Affairs and ESG, National Bank of Canada.Deep Sky is working to build large-scale carbon removal and storage infrastructure in Canada, with initial sites in Alberta and Québec. As a project developer, the company is bringing together the most promising carbon dioxide removal and sequestration technologies to commercialize solutions at scale. High-quality CDR is essential for achieving net zero emissions goals and mitigating the impacts of climate change.

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Deep Sky has secured investment from two of Canada’s preeminent financial institutions. National Bank of Canada and BMO have collectively invested $2.5M CAD, demonstrating their support of Deep Sky’s development of carbon removal infrastructure.

National Bank of Canada and BMO Invest in Deep Sky

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