Deep Sky signs 10-year carbon credit deal with TD Bank Group

TD Bank signage is pictured in the financial district in Toronto, Friday, Sept. 8, 2023. THE CANADIAN PRESS/Andrew Lahodynskyj

MONTREAL — TD Bank Group has signed a 10-year deal with carbon capture startup Deep Sky to buy carbon credits.

Financial terms of the deal were not disclosed.

Under the agreement, the Montreal-based company says TD will purchase over 18,000 verified direct air capture carbon dioxide removal credits.

Deep Sky began operations of its first facility in Alberta in August 2025, testing various technologies.

The company has also announced plans to build a commercial carbon removal facility in southwestern Manitoba.

Deep Sky says the TD deal follows recent partnerships with French power company Engie and airline Lufthansa.

This report by The Canadian Press was first published June 4, 2026.