CICE funds to advance the measuring, monitoring, and verification of carbon management
by CM staff
B.C. clean energy innovators secure a total of $2.82 million in funding to propel over $12 million in MMV projects.
(CNW Group/B.C. Centre for Innovation and Clean Energy)
VANCOUVER — The B.C. Centre for Innovation and Clean Energy (CICE) is announcing its allocation of $2.82 million in non-dilutive funding to develop commercial pathways for innovative B.C.-based solutions that support the measurement, monitoring, and verification (MMV) of carbon emission reduction, removal and avoidance.
“B.C. is uniquely positioned to be a world leader in the global shift to clean technology and a low-carbon economy. Promoting made-in-B.C. innovative solutions for decarbonization and emissions reduction moves our province even closer to meeting its CleanBC goals,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation. “I applaud the B.C. Centre for Innovation and Clean Energy for their efforts in recognizing and funding projects that have the potential to be real game-changers in carbon management and realize a healthier future.”
Through this investment CICE is supporting the commercialization of MMV solutions which are vital to assessing carbon emissions reductions, removal and avoidance at scale. This investment will help advance the expansion of the global carbon credit market and spur further investment in emissions-reductions programs and technologies.
“British Columbia has a unique opportunity to lead the advancement of carbon management solutions by establishing MMV pathways and innovations,” said Todd Sayers, Chief Operating Officer of the B.C. Centre for Innovation and Clean Energy. “CICE is proud to lead catalytic investment into Arca, Metaspectral, Miraterra, and Quatern Limited Partnership and looks forward to seeing their solutions reach global scaling and climate impact potential.”
CICE launched the call for MMV innovation in June 2023, and welcomed over 100 potential applicants. Using an intelligent risk-taking framework, CICE strives to maximize potential impact of breakthrough clean energy and climate solutions by:
- Identifying the optimal convergence points of decarbonization and real-world readiness backed by CICE research and industry consultation
- Accelerating clean energy adoption and growth by mobilizing collaboration between government, industry, investors, academia and Indigenous rights holders
- De-risking investment in early stage cleantech and climate solutions through a government and industry co-funding model.
