Calgary’s ClearSky Global has raised USD $168 million from a private international ESG investment group, facilitated by Tailwind Ventures as financial advisor. The financing represents the 5th largest early-stage venture capital raise in the clean fuels space globally.
ClearSky plans to use the funding to deploy ECOGY® technology to produce high-quality, low-carbon, and economically viable aviation and transportation fuel.
ECOGY technology combines proprietary and commercially proven technology to convert natural gas to both diesel and jet fuel that ClearSky believes is of a superior quality compared to conventional fuels.
ClearSky fuels can be produced at a lower cost than biofuels and refined petroleum fuels. The use of ClearSky fuels has the potential to significantly reduce greenhouse gas (GHG) emissions, and harmful particulate matter. ClearSky’s facilities are modular and compact with superior energy conversion technology, designed to be placed at airports or other strategic locations.
This financial milestone will enable ClearSky to commercialize its first three facilities, which will enable its customers in multiple industries to accelerate their sustainability goals and emissions-reduction targets. With this rapid deployment, ClearSky believes that the impact of this technology will be measurable in the near-term and stands to become a material solution for emissions reduction once operational.
“Alberta’s government in collaboration with Invest Alberta is proud of this innovation driven forward by a Canadian company, headquartered in Alberta. ClearSky’s focus on the development of clean energy makes them an important partner as the world moves to reduce emissions. ClearSky’s solutions to complex energy issues will help lower global carbon levels while creating jobs and supporting the economy,” commented the Honourable Matt Jones, Minister of Jobs, Economy and Trade.