Deep Sky Announces Founding Buyers: 10,000 Carbon Removal Credits for Royal Bank of Canada and Microsoft [Yahoo! Finance]
Royal Bank Of Canada (RY)
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Source: Yahoo! Finance
MONTRÉAL Nov. 13, 2024 /CNW/ -- Deep Sky , the Canadian carbon removal project developer, has sold carbon removal credits to its founding buyers including Royal Bank of Canada and Microsoft. In return, Deep Sky intends to facilitate the removal of 10,000 tonnes of CO from the atmosphere over a 10-year period via Deep Sky Labs, the world's first carbon removal innovation and commercialization center. The founding buyers are helping to support Deep Sky Labs' mission to accelerate the path to low cost, low energy intensity and scalable carbon dioxide removal (CDR) and marks an industry milestone for the private development of scalable carbon removal technologies. The agreement calls for Deep Sky to deliver an initial 10,000 tonnes of removals with options to purchase an additional 1 million tonnes from Deep Sky's pipeline of commercial projects. Deep Sky Labs represents a single destination to streamline efforts to help combat the climate crisis and is the first commercial direct air
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