News Summary

Damien Steel has stepped down as CEO of Montréal-based carbon-capture startup Deep Sky, citing personal reasons for his departure. Steel, who previously served as managing partner at OMERS Ventures, joined Deep Sky in August 2023 and helped secure $57.5 million CAD in Series A financing. He will continue as an advisor to the company. COO Alex Petre, former COO of Bird Canada, will succeed Steel as CEO. Petre has been instrumental in leading the planning and construction of Deep Sky’s first direct air capture (DAC) facility in Innisfail, Alberta, which is expected to open this summer. Deep Sky, founded by Hopper co-founders Frederic Lalonde and Joost Ouwerkerk, aims to capture carbon from the air and sell carbon credits, contributing to climate change mitigation. The company recently secured a $40-million USD grant from Breakthrough Energy Catalyst to support the facility’s construction.