Deep Sky’s CEO Damien Steel steps down for personal reasons; COO Alex Petre appointed CEO as the startup prepares to open its first DAC facility.
Montréal-based carbon-capture startup Deep Sky announced a significant leadership change as CEO Damien Steel steps down just before the launch of the company’s first direct air capture (DAC) facility. Steel shared his decision on LinkedIn, citing personal reasons and the need to focus on his well-being.
Steel’s Departure Reflects Personal Priorities
Damien Steel expressed that leading Deep Sky demands full dedication, which he feels he can no longer provide. He stated, “I’ll be cheering [Deep Sky] on from a new vantage point as I take some needed time for myself.” Steel will continue supporting the mission as an advisor during the leadership transition period.
From OMERS Ventures to Deep Sky
Steel joined Deep Sky in August 2023 after leaving his role as managing partner at Canadian pension fund OMERS Ventures. Under his leadership, Deep Sky successfully secured $57.5 million CAD in Series A funding in October 2023, propelling the startup’s growth in the carbon removal space.
Alex Petre to Assume CEO Role
Deep Sky COO Alex Petre is set to replace Steel as CEO. Petre, who joined Deep Sky in September 2023, brings operational expertise from her previous role as COO at Bird Canada, an electric scooter rental company. She has led the planning and construction of Deep Sky’s Alpha facility, now slated for a summer 2025 opening in Innisfail, Alberta.
Deep Sky’s Ambitious Carbon Capture Vision
Founded in 2022 by Hopper co-founders Frederic Lalonde and Joost Ouwerkerk, Deep Sky focuses on direct air capture technology to reduce carbon emissions and generate revenue through carbon credits. The upcoming DAC facility will host and validate eight different capture technologies before scaling up commercial operations.
Strong Backing and Future Plans
In December 2024, Deep Sky secured a $40 million USD grant from Breakthrough Energy Catalyst, a climate innovation fund initiated by Bill Gates. This funding supports the development of the Innisfail facility, originally planned for winter 2024 but now expected to be operational by summer 2025.
Board and Company Comments
While Deep Sky’s board hoped Steel would stay, his departure was ultimately his own decision. The company praised Steel’s leadership and welcomed Petre’s appointment, highlighting her operational background as critical for the company’s scaling phase.
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