The Royal Bank of Canada (RBC) and Microsoft have partnered with Deep Sky Labs to combat climate change. Together, they have signed a deal to purchase 10,000 carbon removal credits. This move marks a significant step forward in supporting carbon removal technologies and scaling efforts to reduce global carbon emissions.
Deep Sky Labs is a groundbreaking facility in Canada focused on advancing Direct Air Capture (DAC) technologies. The lab aims to accelerate the development of cost-effective and scalable DAC solutions, which remove carbon dioxide directly from the atmosphere. The facility will rigorously test and optimize multiple DAC technologies for performance in Canada’s challenging climate.
Deep Sky’s proprietary software will track this data to improve DAC systems. The facility’s year-round operation will support Deep Sky and the broader carbon removal industry.
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Collaboration with Leading DAC Technology Partners
Deep Sky has chosen eight leading DAC technologies to deploy at its labs. These systems will leverage renewable energy and ensure permanent carbon storage. The goal is to reduce the risks and delays that have hindered previous carbon removal projects. This collaborative approach will help accelerate the industry’s growth.
The selected partners include innovative companies such as Airhive, Avnos, Phlair, Greenlyte, Mission Zero, NEG8 Carbon, Skyrenu, and Skytree. These partners are known for their cutting-edge solutions that contribute to scalable carbon removal.
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Investing in Local Communities and Green Jobs
Damien Steel, CEO of Deep Sky, emphasized that the collaboration provides a clear path for investors, suppliers, and customers. He noted that the investment would help overcome climate challenges and support the reversal of global warming.
The partnership will also have a positive impact on the local economy in Innisfail, Alberta, where Deep Sky Labs is based.
The project is expected to generate over $100 million in local investment over the next decade. Additionally, Deep Sky aims to expand its operations across Canada, creating new green jobs in the process.