Carbon Clean selected Calgary for its Canadian presence due to its increasing role as the epicentre for the latest actions around decarbonisation and ambitious goals to reach net zero.
Carbon Clean Press Release, January 31, 2024
Carbon Clean, a leader in revolutionising carbon capture solutions, has announced a strategic expansion into Canada to meet increased demand for its technology. The company has opened a new office in central Calgary and plans to grow its workforce over the course of 2024 to meet demand for CycloneCC, its modular technology.
Carbon Clean supplies cost-effective industrial carbon capture solutions for essential hard-to-abate industries including oil & gas, cement and steel. With its technology operational in 49 sites around the world, Carbon Clean has one of the largest project portfolios of any independent carbon capture business. The company has cumulatively captured over 2.1m tonnes of CO2. Carbon Clean has been active in Canada for three years and its investors include some of the world’s most established energy problem solvers, including Calgary-headquartered TC Energy.
Aniruddha Sharma, Chair and CEO of Carbon Clean, said:
“Recent efforts to incentivise Canadian investment in carbon capture, utilisation and storage (CCUS) have made the country an attractive market for industrial carbon capture projects. This increased urgency from Canadian policymakers and business leaders around decarbonising hard-to-abate industries has spurred our entry in Calgary and has triggered a significant number of high-level conversations with companies from a variety of sectors wanting to rapidly achieve net zero.
“As North America continues to outpace many global regions, we look forward to ramping up our local supply chain and expanding our Canadian workforce as momentum around these projects and policies is sustained.”
In the 2023 Fall Economic Statement Canadian lawmakers announced a programme to finance investment tax credits for CCUS. The federal government is also making carbon contracts for difference available through the Canada Growth Fund, and has a well-established carbon pricing system, which are part of a national effort to meet emission reduction targets and decarbonise its hard-to-abate industries – a sector that accounts for 30% of global emissions.
Carbon Clean selected Calgary for its Canadian presence because of its increasing role as the epicentre for the latest actions around decarbonisation and ambitious goals to reach net zero. Initiatives such as the Alberta Carbon Capture Incentive Program (ACCIP), announced in November 2023, are creating a positive environment that stimulates demand for industrial carbon capture.
Last year, Carbon Clean opened its US headquarters in Houston, Texas, following passage of the Inflation Reduction Act (IRA) in 2022, moved to larger global headquarters in London and doubled its global headcount to 145 people.
For media enquiries please contact: press@carbonclean.com / carbonclean@rasky.com
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WAVE Equity Partners (WAVE) is an independent sustainability-focused American investment firm. We partner with early-growth companies whose proven clean technologies drive meaningful bottom-line impact and environmental benefits for large industrial manufacturers. Our industry knowledge and dedication to true partnership allow us to work effectively with leaders whose innovative solutions are commercially accepted, deliver immediate impact and are poised to scale. WAVE is currently investing out of its third institutional fund and has approximately $460 million under management (AUM) as of September 30, 2023.
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