Dutch direct-air-capture supplier Skytree has secured a €1 million development loan from Invest International to advance its first international Skypark project in Iceland. The financing, announced on 6 October 2026, is intended for engineering, permits, site-preparation studies and commercial preparation. It does not mean a completed CO₂ production plant or a guaranteed supply contract with greenhouse growers.
In its original announcement, Skytree said the planned Iceland development would pair air-capture equipment with geothermal electricity and heat. Installations are targeted for 2028, the same year in which the company hopes to begin commercial operation. Those are targets rather than confirmed commissioning dates.
Loan covers early project development
Skytree describes its Skypark model as shared infrastructure supplying captured CO₂ to regional customers under long-term purchase agreements. The company lists greenhouse businesses alongside food and beverage producers and other commercial users as potential offtakers. However, the Iceland announcement does not identify a signed greenhouse customer or quantify the amount of CO₂ reserved for protected cultivation.
The development funds are aimed partly at moving offtake letters of intent toward binding commitments. That distinction matters to suppliers and growers evaluating whether a proposed new CO₂ source is bankable: a letter of intent is not a final customer contract.
Why it matters to greenhouse operators
Commercial greenhouses often need dependable supplies of CO₂ for crop enrichment, especially when decarbonisation reduces gas-fired combustion as an on-site source. A reliable direct-air-capture alternative could be strategically relevant if cost, purity, distribution and contractual availability meet growers’ requirements.
Skytree’s earlier Netherlands greenhouse-linked installation demonstrates a separate project model, but it is not evidence the Iceland project has begun delivering CO₂. The new loan is a step toward commercial feasibility, not new guaranteed operating capacity.
What comes next
Site permits, plant capacity, total investment, project partners and binding supply contracts remain undisclosed for Iceland. Those milestones will determine whether the targeted 2028 schedule and potential greenhouse offtake can be realised.
Key takeaways
- Skytree has received a €1 million loan for the development phase of an Icelandic direct-air-capture hub.
- The company targets installation and operation in 2028, but no current Iceland production is claimed.
- No signed commercial greenhouse offtake agreement or project capacity has been established.
