🌍 Welcome back to Reverse!
In this newsletter, we help make sense of the fast-moving carbon dioxide removal (CDR) space, share updates from Deep Sky's efforts, and provide an unfiltered, honest look at the climate crisis.
Deep Sky has identified the site of the former British Canadian asbestos mine in Thetford Mines as having very encouraging potential for carbon storage activities. At a recent open house in the community, about 65 people joined to hear more about the project and pre-feasibility study, with community members expressing strong interest and support. The project has the potential to bring around $2.5 billion in investment, over 500 construction jobs, and more than 120 full-time jobs to the community.
Deep Sky and UK-based global renewable energy company, Low Carbon, have entered into a Power Purchase Agreement (PPA) to power Deep Sky Alpha -- Deep Sky’s first facility in Alberta scheduled to open this spring. The 10-year PPA will see 10 GWh (gigawatt hours) of renewable energy per annum from Low Carbon’s Lethbridge 1 solar project in Canada. With this agreement, the solar project will generate enough clean electricity to power 100% of Deep Sky Alpha’s operations.
Deep Sky in the News
Mon Thetford: Deep Sky rencontre le public à Thetford Mines
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Recent industry news + commentary
According to measurements from the Mauna Loa Observatory in Hawaii, atmospheric carbon dioxide increased by 3.58 parts per million in 2024, marking the largest annual jump since record-keeping began there in 1958. This record rise was attributed to several factors, including record-high CO2 emissions from fossil fuel burning, continued deforestation, and extensive wildfires that released additional carbon into the atmosphere.
A study published in Advances in Atmospheric Sciences found that ocean temperatures in 2024 reached unprecedented levels, setting new records for both surface temperatures and the upper 2000 meters of ocean depth. This finding is particularly significant because oceans serve as the primary reservoir for excess heat from global warming, storing approximately 90% of this heat.
A report from Europe's Copernicus observation agency confirms that 2024 was the hottest year ever recorded, with global average surface temperatures reaching 1.6°C above preindustrial levels. This marks the first time the world has exceeded the critical 1.5°C warming threshold, a development described as "extraordinary." This significant temperature spike has raised concerns among experts that climate change may be accelerating more rapidly than previously anticipated.
A new study published in Nature Climate Change reveals that one-third of the Arctic's ecosystems, including tundra, forests, and wetlands, have transformed from carbon sinks into carbon sources. For thousands of years, these Arctic landscapes functioned as natural carbon reservoirs, with permafrost storing enormous quantities of potential greenhouse gas emissions. However, rising temperatures are now causing these ecosystems to release more carbon dioxide than they absorb.
Michael Bloomberg announced that his foundation will provide funding to the United Nations Framework Convention on Climate Change (UNFCCC). Bloomberg's financial intervention is intended to maintain full funding for this critical UN climate body as the United States moves to discontinue its contributions. This move represents a significant private sector response to a governmental policy shift.
Senior Account Supervisor France chez Double
4wMerlin Thévenet when I read this, I thought of you and D. !