Squamish’s Carbon Engineering has purchased of 4.5-acres in Squamish, B.C. with plans to build a Direct Air Capture (DAC) research and technology development facility to complement its existing Innovation Centre in the Oceanfront Squamish area.
With 170+ employees and counting, CE is developing additional space to support its growing technology development initiatives. The plans call for an enclosed warehouse for next generation pilot technologies, an expanded lab, workshop, and offices.
Once complete, this new site, which is approximately 4.5 kilometers from CE’s Innovation Centre, is expected to more than double current technology development space, expanding CE’s ability to bring technology-focused jobs with competitive pay and benefits to Squamish.
CE plans to reach 200 full-time employees by the end of 2024.
The carbon-capture firm was acquired by Houston-based oil producer Occidental Petroleum for USD $1.1 billion last year.
“At the core of Oxy and CE’s decision to join forces less than a year ago was the commitment to invest in the team and technology here in Canada. Today, this land purchase and subsequent development plans are evidence of that commitment put into action locally as we approach our 10th anniversary in Squamish next year” said Rick Ritter, General Manager, Carbon Engineering.
CE is focused on developing pathways to large-scale DAC – a technology capable of capturing carbon dioxide (CO2) directly out of the atmosphere. According to major scientific assessments – including those from the Intergovernmental Panel on Climate Change (IPCC) – billions of tonnes of CO2 removal will be needed by 2050 to limit warming and meet Paris Agreement climate goals.
The first commercial facility to use CE’s technology – named STRATOS – is under construction in the United States and designed to capture up to 500,000 tonnes of CO2 annually once fully operational.