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Air Canada invests in carbon capture tech firm
Air Canada announced an investment/loan of $6.75 million to Canadian climate solutions company Carbon Engineering (CE).
The investment supports CE’s Direct Air Capture (DAC) technology that pulls carbon dioxide (CO2) directly out of the air at scale.
Under its Climate Action Plan, Air Canada has committed to achieve net-zero GHG emissions by 2050.
To help achieve this, the company created a $50 million investment fund to support new tech.
The $6.75 million being invested in CE comes from this fund and follows an investment of US$5 million in Heart Aerospace.
“We remain focused on seeking innovative, long-term, sustainable GHG emissions reduction solutions,” said Michael Rousseau, President & Chief Executive Officer at Air Canada.
According to CE, their DAC process uses large fans to pull in air and then, through a series of processes, extracts the CO.
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