Air Canada announced that it has invested USD6.75mn in climate tech solutions company Carbon Engineering (CE), aimed at supporting the advancement of its technology that can capture carbon directly from the air at industrial scale. Canada-based CE is focused on deploying its proprietary Direct Air Capture (DAC) technology. DAC technology, listed by the IEA as a key carbon removal option in the transition to a net-zero energy system, extracts CO2 directly from the atmosphere for use as a raw material or permanently removed when combined with storage. According to the landmark IPCC climate change mitigation study released earlier this year, scenarios that limit warming to 1.5°C include carbon dioxide removal methods scaling to billions of tons of removal annually over the coming decades, with DAC positioned to potentially account for a significant portion of the total.

Source: ESGToday