Air Canada has made an equity investment/loan of $6.75 million into Carbon Engineering Ltd. (CE). Airbus SAS has also made undisclosed amount of investment in Carbon Engineering.
Air Canada made the investment from its new created $50 million investment fund to support new climate change technologies.
New investment will contribute to funding part of CE’s Direct Air Carbon Capture (DACC) technology at the company’s Innovation Centre in Squamish, B.C., Canada.
Carbon Engineering Ltd. operates the largest DACC Research & Development facility in the world. DACC is a high-potential technology that involves capturing CO2 emissions directly from the air using high powered fans. Once removed from the air, the CO2 can be used to produce power-to-liquid Sustainable Aviation Fuel (SAF) that is drop-in compatible with today’s aircraft.
Carbon Engineering closed major strategic investment from undisclosed US airlines in 2020.