Deep Sky, a Montreal-based carbon removal project developer, has raised $75 million in its Series A funding to support gigaton-scale carbon removal in Canada. The round includes the conversion of its $17.7 million seed note and $57.5 million in new capital co-led by Brightspark Ventures and Whitecap Venture Partners, with major participation from Investissement Québec ($25 million), as a mandate of the government of Quebec, OMERS Ventures, and Business Development Bank of Canada (BDC)'s Climate Tech Fund. The fresh capital will be used to begin planning and construction of its first commercial facility; grow the team; build corresponding carbon removal software for selling carbon credits; and fund its Alpha research facility, the world's first carbon removal research center.
Osler, Hoskin & Harcourt LLP, led by Shahir Guindi, represented Deep Sky.
Fasken Martineau DuMoulin LLP acted for Brightspark Ventures with a team that included Michel Boislard, Guillaume Synnott, and Julien Fournier.
Goodmans LLP acted for Whitecap Ventures with a team led by Jamie Firsten and that included Danielle Levesque.