A new carbon removal partnership sprouts up north
Why it matters: It shows expanding efforts to bring nascent ways of pulling carbon dioxide from the atmosphere closer to commercial readiness.
Driving the news: Deep Sky is buying a small Equatic plant for use at a Quebec site that's piloting tech from multiple firms.
- The Equatic pilot will have 365 tons of annual removal capacity.
- But they hope to demonstrate potential for greater than 100,000-ton-scale commercial deployments.
How it works: Equatic's tech passes electrical current obtained via renewables — in this case hydropower — through seawater.
- This electrolysis process splits water into hydrogen and oxygen.
- Then atmospheric air is passed through the water, trapping CO2 in minerals and as dissolved substances naturally found in the oceans, Equatic says.
- "The CO2-depleted seawater is 'refilled' by bubbling air through it — the process thereby removes CO2 directly from the atmosphere," a primer states.
Of note: The company says their process restores the water's natural alkaline balance, and that removal can be carefully tracked.
Catch up fast: Equatic has raised over $30 million, has pilots in L.A. and Singapore, and a preliminary removal deal with Boeing.
- Deep Sky, whose backers include Quebec's sovereign wealth fund, was founded in September 2022.
- It announced a $10 million seed round in May. An ongoing Series A raise is targeting $50 million-$75 million.
The bottom line: Scaling removal is hardly a given, but more entrepreneurs — and deep pockets — are getting involved.
- "Equatic's unique electrolysis process enables the oceans to play a major part in averting climate catastrophe," Deep Sky CEO Damien Steel said in a statement.