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Carbon removal venture, Deep Sky names CEO

by CM staff   

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Powered by renewable energy, Deep Sky's facilities are located in Quebec, a region with an abundance of hydroelectric power.

Damien Steel, CEO, Deep Sky.

MONTRÉAL — Deep Sky, a Montreal-based venture commercializing carbon removal and storage solutions at scale, names Damien Steel as CEO.

Steel brings over twenty years of venture capital and operator experience to the position. In his new role, he will work towards the goal of guiding Deep Sky into the world’s first gigaton-scale carbon capture company.

Most recently, Steel served as Managing Partner and Global Head of Ventures at Toronto-based OMERS Ventures (OV). There, he was responsible for investments, fund operations, and global oversight of the group. During his tenure, he tripled the size of the platform to $2.5 billion in assets while generating strong growth.

“For nearly two decades I’ve had the privilege of supporting world class founders in their efforts to build world class companies,” said Steel. “At Deep Sky, I hope to apply all that I’ve learned from these great visionaries to what I believe is the greatest challenge facing humanity today – climate change inaction.”

Previously, he held roles with BridgeScale Partners and EdgeStone Capital Partners. Before joining OV, he was a healthcare entrepreneur, founding and selling a digital dental laboratory startup. He also serves on the board of tech disruptors, including Hopper, TouchBistro, Hootsuite and DuckDuckGo. Alongside his new CEO role at Deep Sky, Damien will remain a senior advisor to OMERS Ventures.

“Building an ambitious company to reverse climate change requires an equally ambitious, big thinker at the helm,” said Deep Sky Co-Founder, Fred Lalonde. “Damien is a proven visionary, leader, fundraiser, and operator who can catapult Deep Sky’s growth to meet the urgent threat that climate change presents. In working together since 2012, he’s demonstrated an uncanny knack for spotting the next moonshot that withstands the test of time. I’m pleased that he’s recognized Deep Sky as his next big bet.”

Powered by renewable energy, Deep Sky’s facilities are located in Quebec, a region with an abundance of hydroelectric power, wind power potential and a territory with the rich geological makeup required for carbon capture.

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