Air Canada invests in Canadian technology that captures carbon directly from the air to fight climate change

MONTREAL, November 17, 2022 /CNW Telbec/ – Air Canada today announced an equity investment/loan of $6.75 million at Canadian climate solutions company Carbon Engineering (CE). The investment supports the advancement of CE’s Direct Air Capture (DAC) technology which extracts carbon dioxide (CO2) directly from the air on a large industrial scale.

Air Canada today announced a $6.75 million equity investment/loan in Canadian climate solutions company Carbon Engineering.  (CNW Group/Air Canada)

Air Canada today announced a $6.75 million equity investment/loan in Canadian climate solutions company Carbon Engineering. (CNW Group/Air Canada)

As part of its climate action plan, Air Canada has committed to achieving net-zero greenhouse gas emissions by 2050. To achieve this goal, the company has created a $50 million investment fund to support new technologies. The $6.75 million being invested in CE comes from this fund and follows an earlier announcement by Air Canada that it is investing 5 million dollars in Heart Aerospace, a Swedish company that develops hybrid electric aircraft.

“We remain focused on finding innovative, long-term and sustainable GHG reduction solutions for aviation, and carbon capture is what we have outlined in our strategy to achieve zero GHG emissions by 2050. Last year, we became the first Canadian airline to sign a memorandum of understanding with CE to explore scalability of carbon capture and other initiatives for our industry.We are proud to invest in CE to further advance new transformational technologies towards commercially carbon removal,” he said Michael RousseauPresident and Chief Executive Officer of Air Canada.

According to CE, their DAC process uses large fans to draw in air and then, through a series of processes, extracts the CO2 while returning the other components of the air to the environment. The captured atmospheric CO2 it can be used to reduce aviation emissions by producing sustainable aviation fuel (SAF) that can be compatible with today’s aircraft. The captured CO2 it can also be stored safely and sustainably in geological reservoirs to provide carbon dioxide removals that can be used to offset greenhouse gas emissions.

Air Canada climate strategy

Air Canada has committed to net zero greenhouse gas emissions from all of its global operations by 2050, with absolute mid-term net greenhouse gas reduction goals by 2030 of 20% from airline operations and 30% from of land relative to its 2019 baseline.

The company currently reports its annual greenhouse gas emissions, targets and climate strategy through the CDP and in 2022 released its first climate-related Financial Disclosure Task Force-aligned report, available here.

Further information on Air Canada’s environmental social governance activities is discussed in the airline’s Corporate Sustainability Report, Citizens of the world.

For more information on Air Canada’s environmental and sustainability programs, please visit the site Leave less.

About AirCanada

Air Canada is of Canada largest airline, flag carrier of the country and founding member of Star Alliance, the most comprehensive air transport network in the world. Air Canada provides direct scheduled passenger service to 50 airports in Canada47 inches the United States and 69 internationally. It holds a four-star rating from Skytrax. Air of Canada The Aeroplan program is of Canada world-class travel loyalty program, where members can earn or redeem points on the world’s largest airline partner network of 45 airlines, as well as a wide variety of merchandise, hotel and car rental rewards. Its cargo division, Air Canada Cargo, provides air transportation and connectivity to hundreds of destinations on six continents using Air Canada’s passenger and cargo-only flights with its fleet of Boeing 767-300 freighters. Air Canada has committed to achieving a goal of net-zero emissions from all global operations by 2050.

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