Canada is stepping up its push to develop low-carbon technologies with a new round of funding aimed at advancing carbon capture, utilization and storage (CCUS) in its British Columbia province.
Federal Energy and Natural Resources Minister Tim Hodgson on Monday announced $5.8 million in government support for three cleantech companies.
The investment is part of a broader effort to scale domestic innovation and reduce industrial emissions.
Vancouver-based Svante Technologies will receive $1.3 million to expand testing infrastructure for its carbon capture systems.
Anodyne Chemistries, operating from Burnaby, secured $2 million to scale up its process for converting carbon dioxide (CO2) into formate, a valuable industrial chemical.
Meanwhile, Agora Energy Technologies, also headquartered in Vancouver, will get $2.4 million to further develop carbon utilization systems using lower-purity flue gases.
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“With these investments, Canada is moving quickly to become a global supplier of secure, reliable and low-carbon energy,” Minister Hodgson said.
The funding is part of Canada’s $319 million Energy Innovation Program, launched under Budget 2021 to support carbon capture research and development (R&D).
The program includes tax credits and incentives designed to help Canada reach its net-zero targets by 2050.
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Brett Henkel, co-founder of Svante, said the funding reflects strong confidence in both the company and Canada’s broader carbon management sector.
Anodyne CEO Iain Evans described the company’s approach as both profitable and sustainable, saying it aims to shift the perception of CO2 from a liability to a valuable asset.
Canada’s latest investments align with a broader $93 billion suite of clean energy incentives introduced in Budget 2024.
The overall goal is to reduce emissions, spur job creation and maintain the country’s competitiveness in the global energy transition.
