Building the carbon removal pipeline

TECH

Building Canada’s carbon removal pipeline

What happened: Carbon Removal Canada launched a new market intelligence dashboard for Canada’s carbon removal industry. The Carbon Console maps carbon removal companies, technologies and projects across the country, bringing visibility and transparency to this emerging field.

The details: The Console highlights all the progress that’s already been made on carbon removal.

• 101,000 tonnes removed to date - equal to 30% of cars on the road today

• Another 11.9 megatonnes worth of projects in the pipeline

• 45 projects in almost every province across the country

• 78 companies working on biomass, carbon mineralization, ocean-based methods, bioenergy and more

The dashboard also connects the dots between projects and policy by highlighting which provinces have key supports in place. That includes the presence of carbon pricing systems, regulatory frameworks and geologic capacity for CO2 storage (Saskatchewan could store more than 150B tonnes!), and offset protocols.

Why it matters: Scaling up carbon removal is key part of our climate strategy, and delivers the “net” in net-zero by drawing down remaining and historic emissions.

It’s also an economic opportunity. Canada has the abundant renewable energy, geological storage, vast coastlines and natural resources to be a leader. Carbon Removal Canada estimates the sector could create 89,000 jobs and $140B in GDP.

By visualizing this data, the Console helps make carbon removal tangible - going from news releases to showing physical projects in action across the country.

Yes, but: Carbon removal still a long way to go to realizing its climate and economic benefits. The 11.9Mt in the pipeline is a fraction of the 35Mt needed for Canada to meet its climate goals.

A new Policy Primer from the Carbon Business Council argues that Canada needs to build out three key pillars to deliver the goods:

• Create reliable demand for removals through government procurement, regulatory requirements, and market mechanisms

• Deploy strategic capital - public, tax incentives, and catalytic funding - to drive down costs and help solutions move from lab to commercial-scale

• Create favourable market conditions, giving carbon removal the clarity it needs to accelerate from removal targets, high-integrity standards, and streamlined permitting.

The bottom line: Carbon removal in Canada is growing but still in the early stages. Clear policy signals, market shaping, and building the economic (as well as climate) case for carbon removal can turn plans into actual megatonnes.

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CLIMATE CAPITAL

🔋 FeX Energy (Montreal, QC) closed an oversubscribed $4.78 million seed round led by Houston’s Fathom Fund. FeX is developing iron-based long-duration energy storage. The thermochemical approach offers high energy density and stability while relying on abundant and low-cost iron.

🥡 Bo (Montreal, QC), a reusable packaging startup, was acquired by Tricentris, Québec’s largest recycling cooperative. The acquisition will expand Bo’s offering to 190 member municipalities.

♻️ RFINE Biomass Solutions (Halifax, NS) closed an oversubscribed $1.7 million equity round. RFINE upcycles spent coffee grounds into food ingredients.

IN THE FIELD

🌋 The Canadian Deep Geothermal Coalition launched at the Geothermal Accelerator Conference to stand up Canada’s geothermal sector.

☀️ Canadian Solar launched its next-gen Low Carbon solar modules with one of the lowest carbon footprints in the industry.

🥶 Jetson launched its smart heat pump, the Jetson Air. The heat pump integrates with existing ductwork and includes remote monitoring and air quality sensing.

🔋 Fuse Power Management launched a field test with BC Hydro using electric school buses for vehicle-to-grid charging.

⛏️ E3 Lithium secured regulatory approval for phase two of its brine-to-battery-grade lithium carbonate system in Alberta

🚤 Taiga Motors is back in action, launching an electric jet ski for European markets. The company was acquired out of bankruptcy by U.K. entrepreneur Stewart Wilkinson.

🌊 Oceanetic Power acquired failed tidal energy startup Occurrent Power’s assets, and plans to continue developing tidal power with new turbine designs.

♻️ Northstar Clean Technologies produced its first solid asphalt pellets from end-of-life shingles, validating its recycling tech for waste shingles.

🔋 UgoWork opened a new US assembly plant for its electric forklift platform.

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NEWS

📡 Signals & Currents

🚢 Fast-tracked projects: The Carney government unveiled its first set of “nation building” projects that will get fast-tracked approvals. The projects include building small modular reactors at Ontario’s Darlington nuclear site, LNG Canada on B.C.’s coast, and copper mines in Saskatchewan and B.C.

🏘️ Build, baby, build - The feds also launched the Build Canada Homes agency, tasked with building 4,000 prefab homes on federal lands. The feds also announced a new Canada Greener Homes Affordability Program to deliver no-cost retrofits for low-income households [CBC]

🛢️ Climate bargain - Oil producers need to make progress on the Pathways carbon capture project in order to unlock approvals for new pipelines. Meanwhile, the feds are discussing dropping the oil & gas emissions cap with Alberta and oil producers as part of a new climate plan [G&M]

🚫 Emissions backtrack - The US EPA wants to end greenhouse gas reporting to cut red tape. The 15 year old program effects 8,000 companies and is a key part of climate disclosures. [Axios]

⚛️ Nuclear mission - The US and UK announced several new nuclear deals and will harmonize regulations to speed up commercial deployments. [Axios]

🌍️ United Africa - African leaders are bringing a united front to COP30, rolling out a climate roadmap that includes raising $50B annually for climate solutions and building 300 GW of renewable energy by 2030. [Grist]

⚡️ Betting on transformers - Tesla will expand on its battery business by producing electrical transformers, getting in on a $65B industry dominated by a few heavyweights like Seimens. [Electrek]

📈 180 fossil fuel and cement producers are responsible for 60% of carbon emissions since 1850, including eight Canadian companies. [CTV]

🇨🇳 China will introduce emissions caps in its carbon market starting in 2027, targeting major industries like chemicals and aviation. [Reuters]

🏭️ India plans to launch a national carbon capture mission, offering up to 100% funding for projects. The effort aims to balance rising energy demand and coal generation with its climate goals [Reuters]

COMMUNITY

🚀 Call for Proposals in the Future of Mining & Energy: DIGITAL is seeking projects applying innovative digital technology solutions to Canada’s mining and energy industries.

➡️ Discover more funding opportunities.

🗓️ Toronto Climate Week: Step onto a global stage and build the future of climate action in Canada. 70+ events across food, cleantech, policy, and energy - and more to come! Toronto, October 1st - 3rd.

➡️ Discover more climate events.

🧑🏻‍💻 MaRS is hiring an Associate, Adaptation & Resilience (Climate) to build and deliver MaRS’s AdapTech Program on the Climate team.

➡️ Find more open roles.