Carbon Engineering
| Company type | Private |
|---|---|
| Industry | Direct air capture |
| Founded | 2009 |
| Headquarters | Squamish, British Columbia, Canada |
Key people | Daniel Friedmann, Chief Executive Officer, Board Chair Kerri L. Fox, Chief Financial Officer David Keith, Founder, Board Member |
| Website | carbonengineering.com |
Carbon Engineering Ltd. is a Canadian-based clean energy company focusing on the commercialization of direct air capture (DAC) technology that captures carbon dioxide (CO2) directly from the atmosphere.
This captured CO2 can either be stored underground, or converted into carbon-neutral fuel using renewable energy sources, by a process the company calls "air to fuels". The company is running a pilot plant in Squamish, British Columbia, removing CO2 from the atmosphere since 2015 and converting it into fuels since December 2017.
The company was founded in 2009 by David Keith, now a professor in the Department of the Geophysical Sciences at the University of Chicago, and is now led by Daniel Friedmann as CEO, who served as the former CEO of Canadian aerospace company, MDA, for 20 years.
Carbon Engineering is funded by several government and sustainability-focused agencies as well as by private investors, including Microsoft founder Bill Gates and oil sands financier N. Murray Edwards. In addition, in 2019 the company received US$68 million from private investors, including fossil fuel companies Chevron Corporation, Occidental Petroleum, and BHP. In August 2023, Occidental Petroleum bought Carbon Engineering for $1.1B, with payments over 3 years, and the intention to build 100 DAC plants.