Steel, the former head of OMERS Ventures, said he was leaving the Quebec-based carbon-capture startup for personal reasons. Deep Sky chief operating officer Alex Petre will replace him. (The Logic)

Talking point: Steel left his position of managing partner at OMERS Ventures for Deep Sky in August 2023. Founded by Hopper CEO Frederic Lalonde, Deep Sky specializes in direct-air and -ocean capture of carbon from the atmosphere. In November, the company inked a 10-year carbon credit deal with RBC and Microsoft, and received a US$40-million grant from Bill Gates’s Breakthrough Energy fund a month later. Yet as The Logic reported in May 2024, Lalonde has been loose with the facts surrounding the scalability of direct-air capture technology, as well as the energy sources available to power it. “Leading Deep Sky requires unwavering focus and energy, and I’ve come to realize I’m no longer in a position to give it everything it deserves,” Steel wrote in a LinkedIn post.