Alberta Allocates A $40M Grant To 11 Carbon Capture Projects

Alberta Allocates A $40M Grant To 11 Carbon Capture Projects - Carbon Herald

The Government of Alberta is providing another carbon capture investment to Emissions Reduction Alberta (ERA) from the Technology Innovation and Emissions Reduction (TIER) fund. 

Investment of $40 million will be delivered to the Carbon Capture Kickstart program of Emissions Reduction Alberta to support the expansion of carbon capture, utilization and storage (CCUS) projects in the province. 

Relevant: Alberta Launches $30 Million Carbon Capture Funding

The funding will support 11 carbon capture projects that could begin operation between 2024 and 2030. They are estimated to reduce almost 24 million tonnes of emissions annually. 

“Alberta’s investments in homegrown technologies are good for the environment and the economy,” says Issik. “This commitment is proof that Alberta and our key industries are ready to build on our long-standing global leadership on emissions reduction,” said Environment and Parks Minister Whitney Issik.

ERA was created in 2009 to help deliver on Alberta’s environmental and economic goals. The organization’s main goal is helping reduce the greenhouse gas emissions while growing Alberta’s economy. This is done by accelerating the development and adoption of innovative technology solutions.

Relevant: Alberta Approved Six Proposals For Carbon Capture Hubs

The successful recipients of the $40 million grant are:

  • Entropy Inc. – ERA funding: $3.3 million, project cost: $10.65 million
  • Vault 44.01 – ERA funding: $2.49 million, project cost: $15.58 million

The selected projects cover a wide range of industrial sectors like power generation, cement, fertilizer, forest products, and oil and gas. The funding is allocated to support up to 50% of the cost of each project to a maximum of $5 million. To date, ERA has given away $830 million to 230 projects worth more than $6.6 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts