CO2 Solutions will receive funding through government's ecoENERGY Innovation Initiative
QUEBEC CITY—The federal government is chipping in $4.7-million in funding to a Quebec firm for a carbon capture project in the Alberta oilsands.
CO2 Solutions will receive the funding through the ecoENERGY Innovation Initiative to support its carbon capture technology for use in oil sands production, including in-situ methods such as Steam Assisted Gravity Drainage (SAGD) and bitumen upgrading.
According to the company, results from the project will also help in developing the technology in other natural gas combustion sources like gas-fired power plants.
The firm expects the overall cost of the project to be $7.5-million, with the balance funded through Alberta’s Climate Change and Emissions Corporation (CCEMC), previously announced on Oct. 31, 2012, and CO2 Solutions and partnership capital from other private entities.
“This project will demonstrate our technology’s ability to cost-effectively address a critical environmental challenge facing the oil sands,” CO2 Solutions president and CEO said in a statement.
“The results from this project will also enable us to apply our technology to other large sources of natural gas combustion emissions, including the rapidly growing number of natural gas-fired power plants.”