ESG Today reports that this was decided in order to reduce the risks associated with Entropy's carbon removal projects. Calgary-based Entropy develops modular carbon capture and storage facilities which capture and store pre-combustion and post-combustion emissions from industrial facilities.

Entropy President and CEO Mike Belenkie said that "by creating a large-scale CCO to guarantee long-term carbon pricing and adding $200 million to our existing Brookfield funding for third-party projects, Entropy has a clear path to accelerating growth and reducing emissions, right here at home."

CGF officials committed through the agreement to purchase up to 9 million tons of carbon credits from Entropy projects over the next 15 years at a rate of 600.000 tons per year.

Canada Growth Fund was launched in 2023 with a commitment of 15 billion USD in order to promote and help develop a clean economy in Canada, while also help attract the interest of private investors in companies that can contribute to a greener future.

CGF officials announced the first investment back in October 2023, fundind Calgary-based geothermal energy company Eavor Technologies with 90 million USD.