What Entropy does

Entropy Inc. is a Calgary-based carbon capture and sequestration (CCS) technology company, incorporated in March 2021 as a wholly-owned subsidiary of Advantage Energy Ltd. The company develops and deploys integrated post-combustion CCS systems for industrial emitters, including iCCS Recip (reciprocating engines), iCCS Thermal (boilers and steam generation), and iCCS Turbine (natural gas turbines), supported by the proprietary Entropy23 amine solvent developed exclusively with the Clean Energy Technology Research Institute (CETRI) at the University of Regina, the EntropyIQ digital twin platform for monitoring and emissions-credit verification, Modular Carbon Capture (MCC) units for emitters as small as 8,000 TPA, Entropy Heat Capture for waste heat recovery, and Reverse Entropy Storage for subsurface sequestration.

Entropy monetizes through four revenue streams: (1) recurring carbon credit sales under a fixed-price 15-year offtake with the Canada Growth Fund for up to one million tonnes per year; (2) technology licensing of the iCCS family, Entropy23, and EntropyIQ to third-party emitters; (3) full-service project development and advisory fees; and (4) sequestration fees for permanent underground CO2 storage. The go-to-market is direct enterprise field sales targeting large industrial emitters in natural gas processing, methanol, ethanol, in-situ oil production, steel, power generation, and compression, with sales cycles structured around confidentiality agreements, FEED studies, and final investment decisions.

The company operates the Glacier facility in northwest Alberta — the world's first commercial decarbonized natural gas processing plant — with Phase 1 & 1b capturing 54,000 tpa CO2e since Q1 2022 and Phase 2 (160,000 tpa plus 15MW clean power) under construction targeting Q2 2026. Entropy has raised approximately $500M USD-equivalent from Brookfield Renewable (2022) and the Canada Growth Fund (2023), holds joint ventures targeting over 8 Mtpa of new sequestration capacity with Keyera, NorthRiver Midstream, and Inter Pipeline, and is expanding into U.S. power generation via a strategic partnership with Net Power.

Name

Entropy

Legal name

Entropy Inc.

Website

https://entropyinc.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Entropy is a Calgary-based carbon capture and sequestration company developing integrated iCCS systems, a proprietary amine solvent (Entropy23), and digital monitoring software for large industrial emitters in natural gas processing, power, methanol, and steel across North America.

Ownership category

akta.pro rank

Product category

Carbon Capture and Sequestration Technology

NAICS

Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512), Power Boiler and Heat Exchanger Manufacturing (33241), Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing (333413)

SIC

Cogeneration Services & Small Power Producers (4991), Auto Controls For Regulating Residential & Comml Environments (3822)

akta.pro primary industry

Onsite Low-Carbon Heat & CHP (Electrified CHP, Fuel Cells, Renewable CHP) (EUABAJAI)

akta.pro secondary industries

Combined Cycle & Cogeneration (CHP) EPC (EUAEAAAB), Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF), Solvent/Sorbent/Catalyst Materials & Capture Equipment Manufacturing (Absorbers, Strippers, Heat Exchangers) (EUAAALAJ)

Keywords

• Carbon capture sequestration
• Industrial emissions reduction
• Post-combustion CCS technology
• Carbon credit generation
• Industrial decarbonization solutions

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Carbon Credit Sales: Revenue from sale of carbon credits generated through capture and sequestration operations. Fixed-price carbon credit offtake agreement with Canada Growth Fund for up to 1 million tonnes per year over 15 years.
2. Technology Licensing: Licensing of proprietary CCS technology including iCCS systems, Entropy23 solvent, and EntropyIQ software to third-party emitters.
3. Project Development Services: Full-suite advisory services for project scoping, design, development and validation. Capital provision for emitters to build CCS projects.
4. Sequestration Fees: Fees for permanent underground carbon storage through Reverse Entropy Storage technology.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Entropy designs, deploys, and operates integrated post-combustion carbon capture and sequestration (CCS) systems for industrial emitters, including the proprietary iCCS Recip, iCCS Thermal, and iCCS Turbine platforms paired with the Entropy23 solvent, EntropyIQ monitoring software, and permanent underground CO2 storage. The company provides full-service project development, capital provision, and ongoing operations through facilities such as its flagship Glacier natural gas processing plant, while monetizing emissions reductions via technology licensing, project services, sequestration fees, and carbon credit sales.

Product overview

Entropy offers a portfolio of integrated carbon capture and sequestration technologies. The core offerings include three iCCS (integrated Carbon Capture & Storage) product lines: iCCS Recip for reciprocating engines, iCCS Thermal for boilers/steam generation, and iCCS Turbine for gas turbines. Supporting these are the Modular Carbon Capture (MCC) system for scalable retrofits, Entropy23 proprietary high-performance solvent developed with CETRI, EntropyIQ digital monitoring and verification platform, Entropy Heat Capture waste heat recovery, and Reverse Entropy Storage subsurface permanent storage. The commercial flagship is the Glacier natural gas processing facility, which demonstrates the technology at scale.

Differentiator

Problem solved

Functional benefit

Brands

• iCCS Recip: Integrated Carbon Capture and Sequestration solution for reciprocating engines, targeting gas-fired compressor engines and steel manufacturing applications.
• iCCS Thermal
• iCCS Turbine
• Entropy23
• EntropyIQ
• Glacier

Products and services

• iCCS Recip Integrated Carbon Capture and Sequestration technology designed for reciprocating engines, applicable to gas-fired compressor engines and steel manufacturing.
• iCCS Thermal Integrated Carbon Capture and Sequestration technology for boilers and steam generation applications including steam assisted gravity drainage and ammonia production.
• iCCS Turbine Integrated Carbon Capture and Sequestration technology for simple or combined cycle gas turbines used in natural gas-fired power plants and compression applications.
• Modular Carbon Capture (MCC) Scalable modular carbon capture system enabling retrofit technology for emissions sources as low as 8,000 TPA, with less than 2 years from FID to on-stream.
• Entropy23 (E23) Solvent Proprietary high-performance amine solvent developed exclusively with CETRI. Delivers higher absorption/desorption rates with lower heat duty compared to conventional solvents, reducing energy input costs and operating costs. Features lower heat duty, greater absorption rate, and cyclic capacity reducing column height and diameter requirements.
• EntropyIQ Digital twin platform that monitors, tracks, and quantifies carbon abatement for generation of emissions credits. Proprietary algorithms generate GHG abatement performance indicators. Customizable design allows seamless integration with existing facilities. Fully auditable system designed for third-party verification.
• Entropy Heat Capture Industrial waste heat recovery technology with short payout and low risk. Revenue streams include reduced fuel costs, reduced process costs, and eliminated carbon costs.
• Reverse Entropy Storage (RES) Subsurface permanent CO2 storage solution leveraging decades of acid-gas sequestration experience and geological expertise.
• Glacier CCS Facility World's first commercial-scale decarbonized natural gas processing facility demonstrating post-combustion carbon capture technology. Phase 1 operational Q1 2022 with 54,000 tpa CO2e avoided. Phase 2 under construction with 160,000 tpa capture capacity and 15 MW clean power generation.

Quantifiable outcome

• Phase 1 & 1b avoided 54,000 tpa CO2e emissions
• +4 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature7 records

Partnerships

Seven partnerships are on record, tiered core and major.

• CETRI (Clean Energy Technology Research Institute)coreStrategic or Co-development PartnerExclusive R&D partnership with University of Regina's CETRI for development of Entropy23 solvent and advanced CCS systems. 30+ years of joint research in carbon capture and sequestration technology development.
• Methanex CorporationcoreStrategic or Co-development PartnerPartnership to reduce emissions in methanol production. Entropy deploying iCCS Thermal technology at Methanex's Medicine Hat facility to capture emissions from steam generation.
• Net Power Inc.majorStrategic or Co-development PartnerStrategic partnership to deploy Entropy's post-combustion carbon capture technology at Net Power's natural gas power plants. Net Power Project Permian in West Texas targeting 80MW output using Siemens A35 gas turbines paired with Entropy's technology. Final investment decision expected H2 2026.
• Inter Pipeline Ltd.majorStrategic or Co-development PartnerJoint venture for Bow Valley Carbon Hub targeting 5 Mtpa CO2 sequestration capacity. Part of Bow Valley Carbon Cochrane project to sequester 40,000 tonnes CO2 annually starting late 2026.
• NorthRiver Midstream Inc.majorStrategic or Co-development PartnerJoint venture for Grande Prairie Net Zero Gateway with 3.3 Mtpa capacity. NorthRiver Midstream contributes midstream infrastructure expertise and assets.
• Keyera Corp.majorStrategic or Co-development PartnerJoint venture for Grande Prairie Net Zero Gateway with 3.3 Mtpa capacity. Keyera contributes gas infrastructure and market access capabilities.
• University of ReginacoreStrategic or Co-development PartnerLong-standing research partnership through CETRI. University provides research facilities, testing capabilities (multi-purpose CO2 capture plant), and academic expertise in solvent development and CCS process optimization.

Scale indicators10 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• Carbon Clean: UK-based post-combustion carbon capture technology provider offering modular CycloneCC systems for industrial emitters. Comparable technology stack and customer profile (refineries, cement, steel) to Entropy.
• Aker Carbon Capture: Norwegian provider of post-combustion carbon capture technology and modules for industrial emitters. Closest direct competitor to Entropy's iCCS platform, also targeting cement, power, and hard-to-abate sectors.

Emerging players

• CarbonCapture Inc. California-based direct air capture company partnering with industrial emitters on hybrid DAC + storage projects. Overlapping customer base in heavy industry and similar project-development, capital-intensive model.
• Climeworks: Swiss direct air capture company with large-scale commercial deployments and high-profile corporate offtake agreements. Competes with Entropy for the same pool of voluntary carbon credit buyers and project equity.

Broad incumbents

• 1PointFive (Occidental subsidiary): Occidental's DAC platform (Stratos facility). While focused on DAC rather than post-combustion, it competes for the same customer-decarbonization budgets and offtake agreements in North America.
• Heidelberg Materials (CarbonCure / evoZero): Major cement producer deploying CCS in clinker production (evoZero) and acquiring CarbonCure (mineralization). Competes for hard-to-abate industrial CCS mandates and offtake counterparties.
• SLB (formerly Schlumberger): Global oilfield services and technology provider with an expanding CCUS portfolio (e.g., Aker SLB Capturi JV). Competes with Entropy on industrial-scale CO2 capture projects and reservoir/sequestration services.
• Linde: Global industrial gas major with CO2 capture, purification, and sequestration capabilities. Overlaps with Entropy's CO2 handling, sequestration infrastructure, and industrial emitter customer base.
• Babcock & Wilcox: US-headquartered energy technology provider with CO2 capture solutions for power and industrial applications. Competes for similar utility-scale post-combustion CCS mandates.
• Fluor Corporation: Global EPC firm active in large-scale CCS and hydrogen projects. Competes with Entropy on engineering, procurement, and construction scope of major capture and sequestration hubs.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/entropyinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Entropy