DALLAS – Airbus and Air Canada have announced that they will invest in Canadian climate solutions company Carbon Engineering (CE) based in Squamish, British Columbia.
As part of its commitment to achieving net-zero greenhouse gas emissions by 2050, Air Canada (AC) will invest C$6.75 million (US$5.07 million). Airbus has yet to disclose the exact amount of its investment.
Carbon Capture Technology
The deal will support the company’s Direct Air Capture and Storage technology (DACCS). This uses large fans to pull in air from which carbon dioxide (CO2) is extracted using a series of chemicals. The remaining air is then released into the atmosphere while the CO2 is stored or used to create sustainable aviation fuels. CE is now developing facilities to capture 1 million tonnes of carbon annually.
Speaking of the investment, AC CEO Michael Rousseau said, “We remain focused on seeking innovative, long-term, sustainable [greenhouse gas] emissions reduction solutions for aviation, and carbon capture is one we have outlined in our strategy to achieving net-zero GHG emissions by 2050.”
“Last year, we became the first Canadian airline to sign [a memorandum of understanding] with CE to explore carbon capture scalability and other initiatives for our industry.”
Multi-million Dollar Investment
The investment forms part of AC’s C$50 million (US$37.2 million) to support new technology to reduce carbon emissions.
In September, AC announced that it had signed a purchase agreement for 30 ES-30 electric-hybrid regional aircraft from Heart Aerospace of Sweden. The deal would also see the carrier acquire a US$5 million equity stake in the manufacturer.
Airbus, meanwhile, has been studying DACCS technology for some time. In March, it agreed on a deal with US firm 1PointFive to purchase 400,000 tons of carbon removal credits using CE’s facilities. 1PointFive said it expects to open its first facility in Texas in 2024, with up to 70 Direct Air Capture plants opening worldwide by 2035.
Featured Image: Airbus A330-900 (F-WTTN). Photo: Tony Bordelais/Airways.