$12 million in funding to advance carbon conversion technologies
CALGARY — Emissions Reduction Alberta (ERA) announced four winning projects for the second round of the ERA Grand Challenge: Innovative Carbon Uses at the Propel Energy Tech Forum in Calgary.
The international competition seeks technologies to transform carbon dioxide from a waste material to an asset, while significantly reducing greenhouse gas emissions. Each Round Two project will receive up to $3 million to accelerate their technologies over the next two years. In 2019 one will be eligible for up to an additional $10 million in funding to help commercialize their technology in Alberta.
“Government investment in innovation is critical to accelerate the transformative technologies that Alberta, Canada and the world will need to reduce both GHG emissions and costs,” said ERA CEO Steve MacDonald. “We searched the world for the best solutions for Alberta to move carbon dioxide from a waste stream to an asset, and in the process, we are attracting new companies and new ideas to the province.”
Government provides grants to ERA to enable it to fulfil its mandate. Its funding comes from Alberta’s large emitters who choose to pay into the Climate Change and Emissions Management Fund.
“Carbon reinvestments lead to innovation and jobs. That makes life better for Albertans and supports our industries. Emissions Reduction Alberta plays a crucial role in advancing innovation and technology in this province,” said Alberta Minister of Environment and Parks and the Minister Responsible for the Climate Change Office, Shannon Phillips.
The winning projects are:
All but one new entrant, CarbonCure Technologies, progressed from the first round of the international competition. In the first round, ERA selected 24 projects from 344 submissions from around the world. First round projects received up to $500,000 in funding to develop their technologies. Nineteen winners from Round One submitted applications to continue their project development in Round Two and 69 submissions were received from new applicants.
Submissions were subject to a due diligence process, and assessed by a team of external experts as well as an Executive Advisory Panel. Final funding decisions are made by the ERA Board of Directors.
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