Deep Sky has raised $42.0M in total across 1 funding round.
Deep Sky's investors include Brightspark Ventures.
Deep Sky is a Montreal-based climate technology company founded in 2022 that builds, owns, and operates infrastructure for carbon dioxide removal (CDR) to combat climate change.[1][2][3] It develops direct air capture (DAC) and ocean carbon capture projects, absorbing CO₂ from the atmosphere and water, then permanently storing it underground using renewable energy, while selling high-quality carbon removal credits to buyers like corporations seeking sustainability targets.[1][2][4] Serving enterprises and governments needing verifiable CDR, Deep Sky solves the global shortfall in carbon removal supply amid rising demand, with projects like Deep Sky Alpha (3,000 tonnes/year capacity, operational in Alberta) and a planned 500,000-tonne facility in Manitoba starting construction in 2026.[4][5] The company has raised over $91M-$130M from investors including Investissement Québec, OMERS Ventures, and Breakthrough Energy Catalyst, showing strong growth momentum with recent grants and phased expansions.[1][5]
Deep Sky was co-founded in 2022 by Fred Lalonde (CEO, also CEO/co-founder of travel tech firm Hopper) and Joost Ouwerkerk (CTO, former CTO of Hopper), leveraging their 15+ years of scaling tech businesses.[1][3] The idea emerged from their Hopper success—selling billions in travel services—to apply similar tech scaling to climate tech, capturing atmospheric CO₂ to offset fossil fuel emissions and monetize via credits.[1][3] Early traction included securing $91M+ in funding, building Deep Sky Alpha as the world's first tech-agnostic DAC facility in Alberta (hosting multiple DAC techs, on track for full operations), and partnerships like with Dakota Grand Council for Manitoba projects.[1][4][5] Leadership transitioned recently, with former CEO (ex-Hopper exec) handing over to COO Alex Petre, who led Alpha's build.[1][3]
Deep Sky stands out in the CDR space through these key strengths:
Deep Sky rides the explosive growth in CDR demand, driven by corporate net-zero pledges and policies like the EU's Carbon Border Adjustment Mechanism, where supply lags gigatonne-scale needs.[2][4] Its timing capitalizes on maturing DAC tech (costs dropping via innovation) and Canada's advantages: abundant renewables, storage geology, and incentives, enabling faster builds than in costlier regions.[4][5] Market forces favoring it include skyrocketing credit prices and buyer urgency (e.g., Microsoft praising its multi-tech approach), positioning Deep Sky to catalyze commercialization by derisking early-stage tech and supplying "Deep Sky Tonnes" long-term.[4][5] It influences the ecosystem by sharing Alpha data to lower industry costs, partnering with developers globally, and proving scalable models that could make affordable gigatonne removal viable.[2][4]
Deep Sky is poised to expand its portfolio with Manitoba's massive facility and Quebec projects, targeting gigatonne-scale removals by leveraging Alpha insights for efficient, multi-phase builds.[5] Trends like AI-optimized DAC, policy-driven credit demand, and falling costs (via tech diversity) will propel it, potentially evolving from pioneer to dominant supplier as buyers lock in supply early.[4][7] Its influence may grow through more Indigenous partnerships and investor influx, solidifying Canada as a CDR hub—ultimately turning climate action into a financial opportunity while closing the global removal gap.[2][5] This tech-agnostic scaler, born from travel disruptors, exemplifies how proven operators can reverse emissions at unprecedented speed.
Deep Sky has raised $42.0M across 1 funding round. Most recently, it raised $42.0M Series A in November 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2023 | $42.0M Series A | Brightspark Ventures |
