Squamish鈥檚 world-renowned carbon-capture company has broken ground on the site of what will be a new facility.
Carbon Engineering has made headlines for technology that removes carbon dioxide from the air and recycles it as fuel.
As of June 11, the company celebrated what will be the site of a building which will serve as a headquarters where the company will advance work on its technology.
鈥淭his is a very exciting milestone for CE,鈥� said Steve Oldham, CEO of the company, in a news release.
鈥淭he Innovation Centre will enable us to continue to advance our technology here in Squamish, British Columbia, positioning CE as a global leader in the critical and growing field of Direct Air Capture.聽 The Innovation Centre will allow [Carbon Engineering] to optimize and improve its technology which can help countries, companies, and individuals achieve their net zero targets and make a material impact in the fight against climate change.鈥�
The centre is expected to be completed by August 2021.
Located in the Newport Beach Oceanfront Development, south of downtown Squamish, the centre will include a 1,250 square-metre building to be used as an operations and laboratory space.
The company says the construction of the project will create approximately 45 full-time local jobs over a year, in addition to the current Carbon Engineering team of 90 full-time employees.
About $25 million of funding for the project comes from a 聽repayable contribution by the Government of Canada鈥檚 Strategic Innovation Fund.
Over $100 million of private funding comes from Carbon Engineering鈥檚 investors.
The groundbreaking ceremony was attended by Energy Minister Bruce Ralston, Mayor Karen Elliott, plant development partner Michael Hutchison, and John Matthews, whose company is behind the 麻豆社国产oceanfront project.
