$30M funding opportunity created to accelerate carbon capture projects in Alberta
The Government of Alberta is providing $30 million to ERA from the Technology Innovation and Emissions Reduction (TIER) fund.
Technology / IIoT
EDMONTON — A new $30 million funding opportunity is intended to accelerate the development of industrial-scale carbon capture and transportation technology solutions in Alberta. Emissions Reduction Alberta’s (ERA) Carbon Capture Kickstart: Design and Engineering call builds on Alberta’s focus in this space, and will fill key knowledge gaps, drive partnerships and innovation, and accelerate project financing and deployment in Alberta.
The Government of Alberta is providing $30 million to ERA from the Technology Innovation and Emissions Reduction (TIER) fund. Jason Nixon, Alberta’s Minister of Environment and Parks, and ERA CEO, Steve MacDonald, made the announcement on Friday, January 14, 2022.
The Carbon Capture Kickstart funding competition supports pre-construction design and engineering. It is focused on site-specific carbon capture, direct air capture, and carbon transportation infrastructure. Proposals can address emissions across industrial sectors: power generation, cement production, manufacturing, oil and gas, and more. All proposals must target specific large final emitter sites in Alberta.
“Carbon capture is necessary to reach large-scale reduction of CO2 emissions. The Carbon Capture Kickstart investment will create shared learnings and provide valuable insights to industry, government, and other stakeholders about the economic and emissions reduction potential of this critical technology in Alberta,” says Jason Nixon, Minister of Environment and Parks.
ERA will contribute up to 50 percent of the project cost to a maximum of $7.5 million. ERA will also identify opportunities to leverage funding for this call with support from other funding agencies, such as Natural Resources Canada (NRCan).
ERA’s funding opportunity aligns with the Federal Government’s committed introduction of an investment tax credit for capital invested in CCUS projects starting in 2022. It also supports the Government of Alberta’s carbon sequestration hub approach announced in 2021.