The airline follows Airbus’ investment in Canadian climate tech company Carbon Engineering.
The science is becoming clear that if we are to have any chance of halting catastrophic climate change, we will require to reduce not only the amount of CO2 we are putting out in the atmosphere but also capture the emissions that we are causing.
Air Canada announced
Preferably even the ones we have already contributed to. Our current best bet to succeed in this is to scale direct air carbon capture technology (DACC). On Thursday, Air Canada declared that it had invested in Canadian climate solutions company Carbon Engineering (CE), currently the world’s biggest direct air carbon capture technology (DACC) research and development facility in Squamish, British Columbia.
The funds, CA$6.75 million (US$5.06 million), are provided in the form of an equity investment/loan and come from Air Canada’s Climate Action Plan fund of CA$50 million (US$37.5 million). In September, the airline pledged US$5 million from the fund to Swedish electric aircraft developer Heart Aerospace for the buy of its updated 30-seater zero-emission battery-powered aircraft, the ES-30.
- Michael Rousseau, President and Chief Executive Officer at Air Canada, commented on the latest investment in the carrier’s commitment to counteracting aviation’s impact on global warming,
“We stay focused on seeking innovative, long-term, sustainable GHG emissions reduction solutions for aviation, and carbon capture is one we have outlined in our strategy to achieving net-zero GHG emissions by 2050.
In the last year 2021, we became the 1st Canadian airline to sign an MOU with CE to explore carbon capture scalability and other initiatives for our industry. We are scornful to invest in CE to further advance new, transformational technologies towards carbon removal commercially.”
Air Canada is not the only major aviation industry company to support Carbon Engineering. At the same time, the airline declared its investment, and so did the behemoth aerospace manufacturer Airbus. CE has also attracted investments from HP, Chevron Corp., Occidental Petroleum Corp., Canadian billionaires Peter J. Thomson and Murray Edwards, and Microsoft founder Bill Gates.
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100 direct air capture plants globally by 2035
Airbus has previously committed to buying 400,000 tonnes of carbon reduction credits from Occidental’s subsidiary, 1PointFive’s DAC facility in Houston, Texas.
The plant is intended to be operational in 2025 and will have a CO2 removal capacity of 1m tonnes a year. 1PointFive and Carbon Engineering also have a partnership deal in place to aid execute large numbers of direct air carbon capture technology (DACC) projects almost the world – the plan is hundred direct air capture plants globally by 2035.
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Source : Simple Flying
