As part of its Technology Innovation and Emissions Reduction (TIER) fund, the Alberta Government is investing in carbon capture, utilisation and storage (CCUS) technologies.
Alberta’s Government said that it will invest up to $750m from the TIER fund and other public funding. The investment will be more than doubled by additional dollars from industry and other sectors, leading to more than $1.9bn in total funding.
Announced earlier this week, the TIER funding includes $80m for Alberta’s new Industrial Energy Efficiency and Carbon Capture Utilisation and Storage (IEE CCUS) Grant Programme, a programme which offers funding for industrial energy efficiency and CCUS projects.
The programme aims to help the province’s industries reduce emissions, increase competitiveness, save money and improve energy efficiency through technology and equipment upgrades. The programme is estimated to create hundreds of jobs and reduce about 300,000 tonnes of emissions annually.
In addition to the IEE CCUS Grant Programme, the TIER fund also includes $9.5m through Emissions Reduction Alberta to support several CCUS projects that are creating jobs and reducing emissions, including:
- $5m toward Accelerating CCS Technologies, a collaboration between 17 countries, coordinated by the Research Council of Norway.
- $1.5m for Carbon Upcycling Technologies, a Calgary-based start-up that uses captured carbon dioxide to enhance materials such as concrete, plastic and batteries.
- $3m for Carbon Corp’s carbon nanotube technology, a process that could produce cheaper, more sustainable, higher-quality carbon nanotubes made of recycled carbon dioxide.
Steve MacDonald, CEO of Emissions Reduction Alberta, said, “We need a global, collective effort to accelerate technologies that cost-effectively capture carbon dioxide. Investments and partnerships like these are critical to helping Alberta leverage its own investments in CCUS.”
“This is technology that can help us increase the value of our natural resources and decarbonise energy – Alberta is helping to develop the solutions the world needs.”