21st Nov 2022 13:29
(Alliance News) - i(x) Net Zero PLC on Monday said portfolio company Carbon Engineering Ltd has received "millions in equity investments" from Airbus SE and Air Canada for its Direct Air Capture technology.
i(x) Net Zero is a St Helier, Jersey-registered investment firm focused on energy transition and sustainability.
Carbon Engineering's DAC technology removes carbon dioxide directly from the atmosphere for sequestration and storage.
i(x) Net Zero said the captured atmospheric carbon dioxide can be used to reduce aviation emissions by producing "sustainable aviation fuel" that is compatible with contemporary aircraft.
The investments from Airbus and Air Canada will be used to "further advance the development work that is being done at the CE Innovation Centre in Squamish, Canada, the world's largest DAC development and research facility."
Chief Executive Officer Steve Oyer said: "This investment from two of the world's leading aviation companies helps to further validate Carbon Engineering's groundbreaking technology. We look forward to further supporting their innovative team as they work on a large-scale commercialisation strategy."
Shares in i(x) Net Zero were trading 5.3% lower at 18.00 pence each in London on Monday afternoon.
By Chris Dorrell; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
IX..L