The Quebec company Deep Sky is taking its ambitious carbon capture and sequestration projects a step further with the appointment of Damien Steel as President and CEO.
With a long experience with emerging companies, Damien Steel was until now managing partner and global head of venture capital at OMERS Ventures (OV), a division of the large institutional pension fund OMERS. There he was responsible for investments, fund management and strategic oversight of the group.
Founded in September 2022 by Fred Lalonde and Joost Ouwerkerk, themselves co-founders of the popular travel product app Hopper, Deep Sky wants to set up large-scale CO2 capture and storage infrastructure in Canada.
Damien Steel was not unknown to them: he had led OMERS OV’s large investment in Hopper and served on its board of directors.
“He’s a friend, by the way,” says Fred Lalonde. He was one of the key people who allowed us to build Hopper. And to be completely honest, I’ve wanted to work with Damien on an operational level for years, and I was looking for an excuse to do so. »
Damien Steel will remain Senior Advisor at OMERS Ventures.
Although he led the seed investment of a Toronto-based climate technology company in 2022, Damien Steel has no specific expertise in environmental matters or CO2 capture.
“Like all of us, he comes from software,” comments Mr. Lalonde, still president of Hopper. “The reason I’m especially excited to have convinced Damien to join us is that he’s one of the best people in Canada for building growth companies. »
The former director of OMERS Ventures has another essential skill in the eyes of Fred Lalonde: “Damien speaks French. He took up residence in Montreal, he informs. We did not take someone who refuses to learn French. »
French lessons are mandatory at Deep Sky, he insists. “Even for Americans. »
Deep Sky wants to set up pilot plants for ocean and air carbon capture, known as Alpha, within two years in Quebec, a prelude to an integrated complex capable of capturing and sequestering hundreds of thousands of tonnes of CO2, called Deep Sky One.
The scale and ambition of these projects might arouse some skepticism.
“Indeed, it seems too big, recognizes Fred Lalonde. But we just won’t have a choice. »
The fires that raged this summer once again showed the urgency to act.
Earlier this summer, the company announced a partnership with the Quebec company Exterra for a CO2 sequestration project from mine tailings, as well as an agreement with the Vancouver firm Svante Technologies for a feasibility assessment. CO2 storage in southern Quebec.
On this momentum, the appointment of Damien Steel is an important step in the short existence of Deep Sky.
“The last year has been spent doing a lot of discovering: going to see what technologies were available, finding partners, announcing partnerships. But there, Deep Sky wants to become operational. We look at the sites, we look at the fields, it takes someone full time to be president. »
Surrounded by subcontractors and suppliers, Deep Sky currently employs around ten people. “In my opinion, we will end the year in our twenties,” said Fred Lalonde. And we can expect the team to remain stable over the next year as we develop Project Alpha. »
“We are essentially building the scientific and technical teams and with the addition of Damien, it will give us leadership that will allow us to ensure operations. »
