RCS - i(x) Net Zero PLC - Carbon Engineering: Airbus/Air Canada Investments

I (X) Net ZeroAnnouncement

21/11/2022 07:00

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RNS Number : 9844G  i(x) Net Zero PLC  21 November 2022

REACH

i(x) Net Zero PLC

("i(x) Net Zero" or the "Company")

Carbon Engineering announces direct investments from Airbus and Air Canada

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on Energy
Transition and Sustainability in the Built Environment, is pleased to
announce that its portfolio company, Carbon Engineering Ltd. ("Carbon
Engineering" or "CE"), has received millions in equity investments from Airbus
and Air Canada to further the development of its Direct Air Capture ("DAC")
technology.

Carbon Engineering's DAC technology removes carbon dioxide directly from the
atmosphere for sequestration and storage. The investments from Airbus and Air
Canada will be used to further advance the development work that is being done
at the CE Innovation Centre in Squamish, Canada, the world's largest DAC
development and research facility. This work includes the testing of a new
material that has the potential to yield a 20% improvement in carbon capture
efficiency.

Carbon Engineering's DAC process uses large fans to pull in air and then,
through a series of processes, extracts the CO(2 )while returning the rest of
the air to the environment. The captured atmospheric CO(2) can be used to
reduce aviation emissions by producing sustainable aviation fuel that is
drop-in compatible with today's aircraft.

Steve Oyer, Chief Executive Officer of i(x) Net Zero, said: "This investment
from two of the world's leading aviation companies helps to further validate
Carbon Engineering's groundbreaking technology. We look forward to further
supporting their innovative team as they work on a large-scale
commercialisation strategy."

Daniel Friedmann, CEO of Carbon Engineering, said: "CE's DAC technology
provides a scalable, affordable solution to help decarbonize aviation.  We
are thankful to Airbus and Air Canada for taking action and continuing to lead
the way by helping to accelerate solutions for the industry and for the
climate."

Karine Guenan, VP ZEROe Ecosystem, Airbus, commented: "We are proud to be
investing in Carbon Engineering, reaffirming our commitment to the use of
direct air carbon capture as a two-fold solution for the decarbonisation of
the aviation industry."

Michael Rousseau, President & Chief Executive Officer, Air Canada,
said: "We remain focused on seeking innovative, long-term, sustainable
Greenhouse Gas emissions reduction solutions for aviation, and carbon capture
is one we have outlined in our strategy to achieving net-zero GHG emissions by
2050. Last year, we became the first Canadian airline to sign an MOU with CE
to explore carbon capture scalability and other initiatives for our industry.
We are proud to invest in CE to further advance new, transformational
technologies towards carbon removal commercially."

 

 

- Ends -

 

 

For further information visit https://ixnetzero.com/
(https://url.avanan.click/v2/___https:/ixnetzero.com/___.YXAzOml4bmV0emVybzphOm86N2IwNzI5ZjFjNmRmYzY5Yjg5ODRhOGZiZWRiYWVmOTk6NjoyMjBhOjRmMGM4Yjg2ZmVkOWZiMzQwN2MwYjQ5ZDVjM2Q0N2I5ZjdmYjRmNDZmYTQ1NjM4Y2NkYTkwYmVjZGEyZTA4YWM6cDpU)
 or contact:

 i(x) Net Zero                               Via Buchanan below
 Steve Oyer - Chief Executive Officer
 Pär Lindström - Chief Investment Officer
 Dmitri Tsvetkov - Chief Financial Officer

 H & P Advisory Limited                      +44 20 7907 8500

 Financial Adviser & Joint Broker
 Neil Passmore
 Ernest Bell
 Andy Crispin (Sales)

 Shore Capital                               +44 20 7408 4050

 Nominated Adviser & Joint Broker
 Tom Griffiths
 David Coaten

 Iain Sexton

 Buchanan
 Helen Tarbet                                +44 7872 604 453
 Simon Compton                               +44 7979 497 324

 

 

Notes to Editors

About i(x) Net Zero PLC

i(x) Net Zero PLC is an AIM quoted investing company that provide its
shareholders the opportunity to create long-term capital growth with
positive, scalable, measurable and sustainable impact on the environment and
on the communities it serves.

In accordance with its belief that the world's biggest problems are also the
biggest market opportunities, i(x) Net Zero focuses on two critical areas in
which it aims to make a positive impact: (i) Energy Transition and (ii)
Sustainability in the Built Environment. The Company uses a multi-strategy
investment approach, providing the companies in which it invests with the
expertise and catalytic capital to help them grow. To date, i(x) Net Zero has
invested in biofuels, direct air capture (carbon removal), renewable energy,
sustainable workforce housing and net zero construction technology.

i(x) Net Zero is a  signatory to the UN Principles for Responsible
Investing. The Company has received the London Stock Exchange's Green Economy
Mark.

About Carbon Engineering

 

Carbon Engineering (CE) is a climate solutions company. CE is focused on the
global deployment of megaton-scale Direct Air Capture (DAC) technology that
captures carbon dioxide out of the atmosphere so it can be permanently stored
deep underground or used to produce clean, affordable transportation fuels.
With its industrial partners, CE is working to deploy its technology in
multiple markets around the globe, providing affordable climate solutions to
meet the needs of a net zero economy.

For more information on Carbon Engineering, please visit
https://carbonengineering.com
(https://url.avanan.click/v2/___https:/carbonengineering.com___.YXAzOml4bmV0emVybzphOm86N2IwNzI5ZjFjNmRmYzY5Yjg5ODRhOGZiZWRiYWVmOTk6NjpjMDM0OmY3ZDU5MTMyMGY2OGExZTc3ZDRiZmJlYWVhZDFmNmE5Y2ZlYjBjZGFlNzM3Njc0MWU1ZGFhNTZiYTQ2ZmNiZWY6cDpU)
.

 

 

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