• Groundbreaking Partnership: Microsoft and Royal Bank of Canada (RBC) purchase 10,000 carbon removal credits from Deep Sky, boosting the development of Direct Air Capture (DAC) technologies.
• Innovation Hub: Deep Sky Labs, the world’s first carbon removal innovation center in Canada, will host eight DAC technologies to accelerate the scalability and efficiency of carbon capture.
• Economic Boost: The collaboration is set to create green jobs and inject over $100 million into the local economy in Innisfail, Alberta, over the next decade.

Deep Sky, a leader in carbon removal technology, has finalized a significant deal with Microsoft and Royal Bank of Canada (RBC) for the sale of 10,000 carbon removal credits. This transaction marks a pivotal step for the industry and highlights Deep Sky’s mission to scale Direct Air Capture (DAC) solutions.

Deep Sky Labs, the first commercial DAC facility in Canada, acts as a comprehensive hub where eight DAC technologies, such as those from Airhive, Avnos, and Mission Zero, will be evaluated for year-round effectiveness.

“In a fragmented market, Deep Sky Labs acts as a focal point for investors, suppliers, customers and other partners who want a defined path to the best carbon removal technologies in the world,” said Damien Steel, CEO of Deep Sky.

A Unique Approach to Carbon Removal This innovative platform will use proprietary software for benchmarking and tracking the performance of DAC solutions. It will integrate renewable energy and permanent carbon storage to produce validated carbon removal credits.

“This first group to invest catalytic capital in carbon removal gives us more confidence than ever that we can overcome humanity’s greatest challenge and reverse climate change,” Steel emphasized.

Support from Key Players RBC’s Sarah Thompson, Global Head of Sustainable Finance at RBC Capital Markets, stated, “As a founding buyer, RBC is excited to learn alongside Deep Sky Labs and support their journey to develop large-scale CDR innovation.”

Brian Marrs, Senior Director of Carbon Removal and Energy at Microsoft, added, “Deep Sky Labs offers a novel, broad-spectrum approach to evaluate and advance multiple technologies at the same time while streamlining project development for early-stage companies.”

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Economic and Community Impact This partnership will stimulate economic growth in Innisfail, Alberta, creating up to 80 construction jobs and 15 permanent operational roles, with future commercial plants expected to generate extensive job opportunities across Canada.

Commitment to Decarbonization Deep Sky’s commitment ensures that carbon credits are verified and traced from capture to storage using robust Measurement, Reporting, and Verification (MRV) systems. This initiative supports the decarbonization goals of enterprises by offering durable and additional carbon removal solutions.

The collaboration between Deep Sky Labs, Microsoft, and RBC signals a vital move towards innovative solutions in the fight against climate change.

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