Newfoundland And Labrador Launches Carbon Capture Innovation Challenge

Newfoundland And Labrador Launches Carbon Capture Innovation Challenge - Carbon Herald

Newfoundland and Labrador, the easternmost province of Canada, has launched a carbon capture, utilization and storage (CCUS) challenge. Premier Andrew Furey announced the news on Oct. 17, inviting qualifying companies, organizations and researchers to send in proposals for CCUS. 

The Provincial Government will provide up to CAD $6 million (USD $4.37 million) for two areas of focus: 

  • Up to CAD $3 million (USD $2.18 million) in support of research and development efforts with the goal of reducing carbon emissions from ongoing oil production in Newfoundland and Labrador’s offshore; and
  • An allocation of up to CAD $3 million to facilitate research into the potential and viability of the province’s offshore region as a potential hub for carbon capture, utilization and storage, with a focus on storing both locally generated and externally sourced carbon dioxide.

The funding can support up to 50% of the eligible project costs. Proposals must be jointly submitted by industry and academia to encourage collaboration between these sectors.

Relevant: Canada Unveils New Carbon Management Strategy

The primary applicants must be post-secondary institutions in Newfoundland and Labrador that possess prior experience in carbon capture, utilization and storage research, in conjunction with registered incorporated businesses that have a minimum of two years of offshore operations within the province.

“A demand for these [CCUS] solutions has some economists estimating that this could be a multi-billion dollar industry in and of itself,” Furey said, as reported by CBC

Offshore oil production projects such as Hibernia, Hebron, Terra Nova and White Rose account for 14% of the province’s overall emissions.

According to Furey, as much as a gigaton of CO2 can be stored beneath the seabed in places like the Jeanne d’Arc Basin.

“That represents a significant impact to the global environment and a huge impact to the economy here in Newfoundland and Labrador,” he said.

Read more: Canada Nickel Confirms Strong CCS Value Of Crawford Project

Leave a Reply

Your email address will not be published.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

Related Posts
Translate »