Mission from MaRS

Carbon Management

Accelerates the adoption of Canadian carbon removal solutions, and develops a vibrant carbon markets ecosystem

 
Mission Overview

Achieving our climate commitments will require more than cutting back on emissions. We need dramatic carbon dioxide reduction, removal, and utilization at scale.

For Mission from MaRS, carbon management encompasses a comprehensive and integrated landscape of innovations that reduce, remove, utilize, or store greenhouse gasses, as well as the solutions that enable these activities.

With growing demand for high-quality carbon credits, carbon management also represents a massive market opportunity. The global voluntary carbon market was valued at $1.4 billion in 2024 and could reach an estimated value of $1.1 trillion by 2050. Carbon dioxide removal (CDR) is at an early stage, but has already been earmarked as an integral part of international plans, projections and commitments for a stable climate.

Mission Objectives

Carbon Management Mission Objectives

The Carbon Management Mission aims to help Canada achieve its net zero goals while filling the carbon management gap by:

  1. Increasing the supply of high-quality credits (CDR and traditional credits) in the carbon markets by supporting ventures to get credit-ready
  2. Increasing the demand of carbon credits and enable the adoption of carbon reduction and removal technologies
  3. Informing and influencing government decision makers as they establish new carbon reduction and removal programs and policies

Carbon Management Mission Objectives

Approach and Projects

Accelerate Canada’s top carbon removal companies

Take an “own the podium” approach to concentrate MaRS’ expertise and resources to help get these companies to megaton – and eventually – gigaton scale.

Find out more about our CDR Accelerator
Explore our ventures

Accelerate Canada’s top carbon removal companies

Establish and convene coalitions

Leverage Mission from MaRS’ unique coalition model to co-create responsible deployment paradigms, coordinate interest, knowledge and expertise from government and buyers across voluntary and compliance markets.

See our Coalition

Establish and convene coalitions

Develop the market and educate the ecosystem

Develop capacity and appetite in the market through enabling corporate adopters and government decision makers.

View the Supporters
Learn about our Carbon Credit Purchasing Program

Develop the market and educate the ecosystem

Enable philanthropic carbon credit purchasing

Respond to demand at the individual level to support Canada’s most promising CDR technology companies through tax-deductible donations, used to purchase high-quality CDR credits.

Learn about our MaRS Carbon Removal Donation Program

Enable philanthropic carbon credit purchasing

Climate Champions

Carbon Upcycling
Cement is the most used building material in the world, accounting for 8% of global emissions. Decarbonizing the industry will be vital to achieving net zero, and Canadian company Carbon Upcycling has a solution. Carbon Upcycling’s patented technology permanently sequesters CO2 into industrial byproducts and minerals – upcycling them into enhanced cementitious materials to replace cement. By capturing CO2, avoiding CO2, and upcycling material, Carbon Upcycling is providing an end-to-end decarbonization solution for the cement industry.

CarbonRun
Adding powdered limestone to rivers has been done for decades as a way of improving the ecosystem for salmon. Now, CarbonRun is doing the same to create a negative emissions solution that can draw down carbon dioxide from the air and land surrounding rivers. CarbonRun’s groundbreaking approach to capturing and storing carbon leverages an innovative monitoring, reporting, and verification system (which provides real-time and observable data) to generate carbon credits while bringing about several environmental co-benefits.

Gaia Refinery
Gaia Refinery has a CDR technology that captures carbon dioxide from both air (DAC) and biomass (BiCR) sources. Gaia Refinery’s synergistic BiCR:DAC solution utilizes fuel cells and waste acids to complete the carbon absorption and desorption cycle at room temperature, which has led to one of the lowest energy demands on record for this type of technology. Gaia Refinery is looking to make a significant impact towards reversing legacy emissions and being able to take the carbon dioxide removed and storing it durably for millennia or having it be re-used within commercial products.

Hyperion
Hyperion is turning ‘dirty air into dollars’ with its patented TANDEM Carbon Recycling system, a drop-in unit in a shipping container that transforms waste CO2 emissions into minerals that permanently store CO2. These high value mineral commodities can be sold into a $44B global market and used in a multitude of industries, from pharmaceuticals to green building materials. The Ottawa-based startup is currently operating its debut pilot system with Lafarge Canada at the company’s Ontario cement plant near Kingston, with capacity to recycle up to 1,000 Tonnes of carbon dioxide a year.

Planetary
Planetary Technologies uses a process called Ocean Alkalinity Enhancement to remove carbon dioxide from the atmosphere. Oceans are one of the biggest carbon sinks on earth, and play a big role in the global carbon cycle. Planetary Technologies adds an antacid to the water flowing out of existing wastewater and power plant pipes to help more atmospheric carbon dioxide dissolve into the ocean, permanently removing it from the atmosphere.

Terrafixing
TerraFixing has developed the only solution in the world for capturing carbon dioxide in cold climates. Leveraging Canada’s harsh winters to its advantage, TerraFixing uses a solid adsorbent material to capture CO2 directly from the air. Powered by renewable wind energy nearby Canadian mines to help that industry decarbonize, TerraFixing’s direct air capture solution is emission-agnostic, meaning it can help anyone, anywhere, reach their net zero goals.

Carbon Management Coalition


Na’im Merchant
Executive Director
Carbon Removal Canada

Na’im Merchant

Executive Director
Carbon Removal Canada


Natasha Bernardi
Manager of Strategy and Operations
Carbon Removal Canada

Natasha Bernardi

Manager of Strategy and Operations
Carbon Removal Canada


Ryan Bourns
Business Strategy Development Manager
Carbon Upcycling

Ryan Bourns

Business Strategy Development Manager
Carbon Upcycling

As Business Strategy Development Manager, Ryan Bourns is accountable for the commercialization of Carbon Upcycling’s proprietary technology. He plays a key role in the execution of the Company’s strategy and further development in the North American region.

Throughout his five years with the Company, Ryan has taken part in several global initiatives, such as the Carbon XPRIZE challenge, as well as industry leadership through Minister Champagne’s working group on decarbonizing cement.

Ryan is a University of Calgary alumni, holding a master in sustainable energy development. He also holds a bachelor of commerce from the University of Guelph.


Geoff Burt
CEO
The Consecon Foundation

Geoff Burt

CEO
The Consecon Foundation


Luke Connell
CEO and Co-Founder
CarbonRun

Luke Connell

CEO and Co-Founder
CarbonRun

Luke Connell is a leader in the field of social innovation, climate technology and an experienced nonprofit executive. He is Co-Founder and CEO of CarbonRun, a Climate technology company that restores rivers and their ability to safely and permanently remove carbon dioxide and provide social and environmental benefits. Prior to CarbonRun, he held the role of Executive Director at the Omega Foundation, developing and supporting initiatives that promote financial self-sufficiency through microfinance and enhancing the savings capacity and financial literacy of modest-income families. Luke lives in Toronto with his partner and two children.


Isabella Corpora
Associate Director
Carbon Business Council

Isabella Corpora

Associate Director
Carbon Business Council


Caroline de Bossart
Director
Grantham Foundation

Caroline de Bossart

Director
Grantham Foundation


Phil De Luna
Chief Carbon Scientist and Head of Engineering
Deep Sky

Phil De Luna

Chief Carbon Scientist and Head of Engineering
Deep Sky


Michael Dennis
Carbontech Entrepreneur in Residence Foresight CarbonNEXT, Earth Tech 2050
Foresight Canada

Michael Dennis

Carbontech Entrepreneur in Residence Foresight CarbonNEXT, Earth Tech 2050
Foresight Canada


Jonathan Edwards
Senior Principal Engineer
Deep Sky

Jonathan Edwards

Senior Principal Engineer
Deep Sky


Carson Fong
Senior Analyst
Pembina Institute

Carson Fong

Senior Analyst
Pembina Institute


Vida Gabriel
COO and Co-Founder
TerraFixing Inc.

Vida Gabriel

COO and Co-Founder
TerraFixing Inc.

Dr. Vida A. Gabriel, co-founder and COO of TerraFixing, is an entrepreneur tackling climate change recognized in the Forbes 30 Under 30 list. With a PhD in sustainable chemical reaction engineering and almost a decade of engineering research experience, she is leading innovation to develop the first ever cold-climate direct air carbon capture (DACC) technology – a direct means for Canada to reach net-zero targets.


Jason Gadoury
Senior Director, Policy and Planning, Office of Energy Research and Development
Natural Resources Canada

Jason Gadoury

Senior Director, Policy and Planning, Office of Energy Research and Development
Natural Resources Canada


Brian Hong
Vice President, Environmental Markets Solutions Group
RBC Capital Markets

Brian Hong

Vice President, Environmental Markets Solutions Group
RBC Capital Markets


Stacy Kauk
Head of Sustainability
Shopify

Stacy Kauk

Head of Sustainability
Shopify


Michael Kelland
CEO
Planetary

Michael Kelland

CEO
Planetary

Mike Kelland is the co-founder and CEO of Planetary. Planetary’s vision is to retore and protect the ocean and climate for generations to come and is dedicated to leading the charge in marine Carbon Dioxide Removal (CDR), an area of immense potential in the fight against climate change. With a history of creating nurturing and innovative corporate cultures, Mike’s passion for environmental solutions is propelling his work beyond entrepreneurship into a lifelong mission. Beyond Planetary, Mike also holds executive roles on various company boards and always makes time for the great outdoors, drawing inspiration and resilience from canoeing in Algonquin Park with family and friends.


Tom Lumley
Senior Manager, Business Development
Ontario Power Generation

Tom Lumley

Senior Manager, Business Development
Ontario Power Generation


Fiona Oliver-Glasford
Chief Revenue Officer
ClearBlue Markets

Fiona Oliver-Glasford

Chief Revenue Officer
ClearBlue Markets


Genny Shaw
CEO and Co-Founder
Gaia Refinery

Genny Shaw

CEO and Co-Founder
Gaia Refinery

Genny has a multi-disciplinary background in both business and science industries. She holds an MBA, an MHA and a BSc – Science and Business degree. She is a serial entrepreneur who has run several businesses before joining Gaia Refinery. Genny specializes in business strategy and operational optimization.


Richard Sluce
Director of Technical Services
Ash Grove Cement

Richard Sluce

Director of Technical Services
Ash Grove Cement


John Van Ham
Senior Director, Industrial Decarbonization
Pembina Institute

John Van Ham

Senior Director, Industrial Decarbonization
Pembina Institute


Jennifer Wagner
Fellow
Breakthrough Energy

Jennifer Wagner

Fellow
Breakthrough Energy


Heather Ward
CEO and Co-Founder
Hyperion Energy

Heather Ward

CEO and Co-Founder
Hyperion Energy

Heather brings an extensive background in business, entrepreneurship and corporate leadership, with a proven track record of building award-winning ventures from the ground up. More than 15+ years experience in sustainability and commercialization bringing innovative technologies to market for a range of companies and high profile brands, working closely with key stakeholders, partners and investors.. Over the past 5 years, Heather has led the company and 500% scale up of its world’s first ‘Tandem Carbon Recycling’ system – from initial Carbon XPRIZE prototype to a first-of-its-kind industrial pilot with current capacity to remove and permanently store up to 1000T CO2/year in its high-performance mineral products.


Sean Wilson
CEO and Founder
TerraFixing Inc.

Sean Wilson

CEO and Founder
TerraFixing Inc.

Dr. Sean M.W. Wilson, Founder and CEO of TerraFixing, is leading global expert in adsorption-based gas separations with a speciality in carbon capture. With over a decade of experience in atmospheric carbon removal, he pioneered the development of the first ever direct air carbon capture (DACC) technology that is geared towards cold climates, enabling DACC for Canada.