Cerberus Capital Management is a private investment firm that focuses on operational private equity investments. The firm manages funds and accounts for many of the world’s most respected investors.

Cerberus Capital Management

Air Canada

Moving industry forward with next-generation advancements in energy storage and transmission.

Alternative Energy

Canada-based Carbon Engineering (CE) specializes in Direct Air Capture (DAC) and air-to-fuel (ATF) technologies. ATF technology turns atmospheric carbon dioxide (CO2) DAC facilities into low-carbon fuels. The company’s pilot DAC plant in British Columbia captures one ton of CO2 per day. As of March 2024, CE is working with 1PointFive to commercialize its air-to-fuel processes.Key customers and partnershipsCE has partnered with Oxy Low Carbon Ventures (the venture capital arm of the oil and gas company Occidental Petroleum) to build its first commercial DAC facility in Texas Permian Basin. The proposed facility will capture one million tons of CO2 per year. The construction of the plant is to be completed by 2024. CE has also begun engineering at its <a href="https://sp-edge.com/updates/14178">second DAC facility</a> in Kleberg County, Texas to capture 30 million tons of CO2 per year. The site is expected to begin operations by late 2024. CE also has a partnership with Storegga Geotechnologies to deploy its DAC technology in the UK. In <a href="https://sp-edge.com/updates/10949">June 2022</a>, CE extended its collaboration with 1PointFive to deploy DAC projects globally.CE allows customers to pre-purchase carbon removal quantities from its future projects. In March 2021, Shopify became CE’s first customer, having reserved 10,000 tons of carbon removals. CE has also partnered with BeZero (a British climate asset and liability management company) for a joint retail offering that allows customers to purchase carbon removals through BeZero’s website. In November 2021, CE also signed up BMO Financial Group, a Canadian financial service provider, as a new customer and plans to deliver 1,000 tons of carbon removal units.CE estimates the net cost of its DAC technology to be around USD 94–232 per ton. The net cost of capture from its proposed one-megaton commercial plant is expected to be “little less than USD 200 per ton”. The company has also reported that its net cost of capture needs to fall below USD 150 per ton for the technology to make commercial sense.In October 2021, Carbon Engineering also partnered with Huron Clean Energy (Canada), The Upper Nicola Band (Canada), and Oxy Low Carbon Ventures to develop a large-scale commercial ATF facility in British Columbia. The facility is expected to begin operations in 2026. In November 2021, the company partnered with Air Canada to explore sustainable aviation fuel (SAF) opportunities.Funding and financialsCarbon Engineering's most recent funding event was in<a href="https://sp-edge.com/updates/14763"> November 2022</a> when it raised an undisclosed amount from aviation leaders, Airbus and Air Canada, to support the development of its DAC technology. Prior to this in March 2019, Carbon Engineering raised USD 68 million from Chevron, Occidental Petroleum, and BHP. The company also received a USD 25 million grant from the Canadian government in June 2019. The cash helped speed up development and go-to-market activities for Carbon Engineering’s DAC technology.In <a href="https://sp-edge.com/updates/21044">August 2023</a>, Occidental Petroleum announced a definitive purchase agreement to acquire Carbon Engineering for USD 1.1 billion in cash. The deal was closed in <a href="https://www.blg.com/en/about-us/deals-and-suits/2023/11/occidental-petroleum-completes-us1-1-billion-acquisition-of-carbon-engineering-ltd#:~:text=On%20November%203%2C%202023%2C%20Occidental,equity%20of%20Carbon%20Engineering%20Ltd.">November 2023</a>.

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

<div>
 
 Canada-based Carbon Engineering (CE) specializes in direct air capture (DAC) and air-to-fuel (ATF) technologies. The company&rsquo;s pilot DAC plant in British Columbia captures one ton of carbon dioxide (CO2) per day.&nbsp;
 
 
 Key customers and partnerships
 
 
 CE has partnered with Oxy Low Carbon Ventures (the venture capital arm of the oil and gas company Occidental Petroleum) to build its first commercial DAC facility in Texas Permian Basin. The proposed facility will capture one million tons of CO2 per year. The construction of the plant is expected to begin in 2022 and be completed by 2024. CE has also begun engineering at its 
 <a href="https://sp-edge.com/updates/14178">
 second DAC facility
 </a>
 in Kleberg County, Texas to capture 30 million tons of CO2 per year. The site is expected to begin operations by late 2024. CE also has a partnership with Storegga Geotechnologies to deploy its DAC technology in the UK. In June 2022, CE extended its collaboration with 
 <a href="https://sp-edge.com/updates/10949">
 1PointFive
 </a>
 to deploy DAC projects globally.&nbsp;
 
 
 
 
 
 
 CE allows customers to pre-purchase carbon removal quantities from its future projects.
 
 In March 2021, Shopify became CE&rsquo;s first customer, having reserved 10,000 tons of carbon removals. CE has also partnered with BeZero (a British climate asset and liability management company) for a joint retail offering that allows customers to purchase carbon removals through BeZero&rsquo;s website. &nbsp;In November 2021, CE also signed up BMO Financial Group, a Canadian financial service provider, as a new customer and plans to deliver 1,000 tons of carbon removal units.
 
 
 
 
 CE estimates the net cost of its DAC technology to be around USD 94&ndash;232 per ton. The net cost of capture from its proposed one-megaton commercial plant is expected to be &ldquo;little less than USD 200 per ton&rdquo;. The company has also reported that its net cost of capture needs to fall below USD 150 per ton for the technology to make commercial sense.&nbsp;&nbsp;&nbsp;
 
 
 
 
 In October 2021, CE also partnered with Huron Clean Energy (Canada), The Upper Nicola Band (Canada), and Oxy Low Carbon Ventures to develop a large-scale facility in British Columbia to convert captured CO2 and water into sustainable fuel. The facility is expected to begin construction in 2023, and operations are targeted to commence in 2026. In November 2021, the company partnered with Air Canada to explore sustainable aviation fuel (SAF) opportunities.&nbsp;
 
 
 Funding and Financials&nbsp;
 
 
 CE&rsquo;s most recent funding event was in 
 <a href="https://sp-edge.com/updates/14762">
 November 2022
 </a>
 when it raised an undisclosed amount from aviation leaders, Airbus and Air Canada, to support the development of CE&rsquo;s DAC technology. The company received a USD 25 million grant from the Canadian Government in June 2019. Previously, in March 2019, the company raised USD 68 million from Chevron, Occidental Petroleum, and BHP.&nbsp; The proceeds are expected to speed up development and go-to-market activities.
 
 
 In
 <a href="https://sp-edge.com/updates/21044">
 August 2023
 </a>
 , Occidental Petroleum announced a definitive purchase agreement to acquire Carbon Engineering for USD 1.1 billion in cash. The deal is expected to close before the end of 2023.
 
 
 
</div>

Heart’s mission is to create the fastest, most affordable and sustainable transportation for regional travel to every corner of the world. Their first aircraft is the ES-19, a nineteen-passenger airliner with an operating range of 400 km. Heart's goal is to have the aircraft certified for commercial operation by 2026.

Carbon Engineering is a clean energy company that commercializes the Direct Air Capture technology to capture CO2 directly from the atmosphere and convert it into clean, affordable transportation fuels. Carbon Engineering focuses on the global deployment of Direct Air Capture technology so it can have the greatest impact on the huge climate challenge.

Air Canada is the flag carrier and largest airline of Canada. The airline, founded in 1937, provides scheduled and charter air transport for passengers and cargo to 178 destinations worldwide.

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