ERA and Export Development Canada (EDC) have signed a Trusted Partner Memorandum of Understanding (MOU). The agreement streamlines support for innovators by providing simplified access to multiple streams of funding and support. The agreement allows EDC to refer projects to ERA for funding through the Partnership Intake Program. ERA can also refer projects to EDC.
ERA’s mandate aligns well with EDC’s existing investment portfolio, including companies operating in carbon-intensive sectors and businesses leading clean technology development. Their emphasis on addressing climate change through policy and funding support creates unique opportunities for ERA projects.
“EDC is proud to be recognized as an official Trusted Partner by Emissions Reduction Alberta, alongside other key government and industry players. This collaborative effort will accelerate forward-thinking projects by Canadian innovators that will contribute to a more sustainable future and support continued growth within the cleantech sector.”
Mairead Lavery, EDC’s President and CEO
“We are pleased EDC has joined our growing list of Trusted Partners. This agreement enhances access to international markets for ERA-funded, Alberta-based technologies that can be commercialized and exported globally to deliver improved environmental and economic benefits. It furthers the pipeline of support for industry, innovators, and entrepreneurs.”
Steve MacDonald, ERA’s CEO
EDC’s funding is largely focused on projects that are closer towards commercialization. Many of ERA’s current Trusted Partners primarily support projects in the earlier stages of technology readiness. This agreement is a great example of how funding organizations are working as a system to close technology gaps and leading the way to a lower emissions future.
ERA now has 13 Trusted Partner agreements in place. Trusted Partners are funding organizations with rigorous, fair and transparent processes comparable to ERA’s. They can refer promising technologies to ERA for funding consideration through the Partnership Intake Program. ERA applications also have the option to allow their projects to be shared with Trusted Partners. This allows funding organizations to leverage funds and due diligence, share risk, and reduce administrative burden for applicants.
To date, ERA’s Partnership Intake Program has committed over $54 million in investments to projects worth almost $1.3 billion. On November 2, 2020, ERA announced $75 million in support from provincial and the federal governments will be made available through the program.
Photo: ERA recently announced $1.5 million in funding for Carbon Upcycling Technologies through its Partnership Intake Program after it was referred by its Trusted Partner, XPRIZE Foundation.