Canadian Business Journal, Alberta Partner, Global CCUS Initiative to Leverage Investment from Eight Countries

Edmonton, Alberta, March 4, 2022 (GLOBE NEWSWIRE) — ERA 200 for four carbon capture, utilization, and storage (CCUS) projects worth approximately $ 24 million through an international partnership with Accelerating CCS Technologies (ACT) We are committed over $ 10,000. These innovative Alberta-based projects have been selected through the ACT Consortium’s recent call for proposals and include investments from eight countries to support commercialization in the state.

In total, 13 projects from around the world worth $ 68 million, both publicly and privately, have been selected. $ 43 million comes from participating ACT partners. Each project consists of a consortium of at least three eligible applicants from three countries. The project was selected through a rigorous two-step evaluation process led by an independent international panel of experts. The funding comes from the Alberta Industry-Funded Innovation and Emission Reduction (TIER) Fund.

The ACT Consortium has established itself as a powerful multinational financing approach for CCUS dedicated to research and innovation. This includes power generation, cement production, oil and gas, manufacturing, and more.

“Such partnerships and investments are important to help Alberta leverage its investment in CCUS. These innovative world-class technologies enhance the value of our natural resources. These projects build on Alberta’s existing CCUS investments, such as Shell Quest, Alberta Carbon Trunk Line, and Alberta Carbon Conversion Technology Center, and are key to developing solutions and knowledge that share Alberta with the world. I’m a player. “
Jason Nixon, Minister of Environment and Parks

“CCUS is one of the most promising clean energy technologies in the world, and Alberta has done some extraordinary things in this area. This collaboration will help Alberta’s fast-growing technology sector. More opportunities, more jobs, and more expertise are created. Again, Alberta has established itself as an innovation leader. “
Doug Schweitzer, Minister of Employment, Economy and Innovation

“The task of scaling up and deploying CCUS technology is too big for one company, one organization, or one jurisdiction to undertake alone. ERA is based on international relationships and credibility around the world. To Alberta and bring Alberta innovation to the world to help us find solutions. “
Steve Macdonald, CEO, Emission Reduction Alberta

“Climate issues are what we need a global approach. Four of the 13 new projects funded by ACT include our Canadian partners in France, Germany, the Netherlands, Norway, Romania and Switzerland. There is a consortium of research partners in the United States and the United Kingdom. The knowledge that Norway has in this area is highly valued and helps our ambition to make CCUS a commercially viable climate mitigation technology. . “
Ragnhild Rønneberg, Coordinator, ACT, Research Council of Norway

In 2020, ERA announced a partnership with a global initiative to invest in world-class innovations that could lead to safe and cost-effective CCUS technology. Coordinated by the Research Council of Norway (RCN), ACT is a collaboration of research and innovation funding organizations from 16 countries, including the United States, United Kingdom and Germany. Alberta is the first subnational member through ERA.

The four Alberta-led projects selected are:

Carbonova Corp.
CREATE – Carbon Reform to Economic Additives to Move into an Emission-Free Era
Project Value: $ 1,800,000 | ERA Commitment: $ 543,000
ACT Partners: France, Switzerland

Canada’s carbon management
Returns – Reuse depleted oil and gas fields for CO2 isolation
Project Value: $ 11,000,000 | ERA Commitment: $ 345,000
ACT Partners: Germany, Netherlands, Norway, UK

University of Alberta
Action – CO’s advanced multitemporal modeling and optimization2 Transportation, utilization, and storage networks
Project Value: $ 7,300,000 | ERA Commitment: $ 745,000
ACT Partners: France, Netherlands, Romania, UK, USA

University of Alberta
Sure – Effective monitoring of long-term site stability for transparent carbon capture and storage hazard assessment
Project Value: $ 3,600,000 | ERA Commitment: $ 507,000
ACT Partners: France, Norway

“CO2 Atmospheric levels are a cross-geographical issue that creates globally applicable solutions while managing global demand for energy, sustainable food, places of residence, and transportation for all. need to do it. ERA-funded Alberta Government funding through ACT 3 provides opportunities for Canada-developed innovations to be implemented globally, while contributing internationally to address one of the most pressing challenges today. It is possible. “
Mina Zarabian, Co-founder and CEO of Carbonova Corp

“Commercial-scale implementation of new technologies and innovative ideas is an important part of optimizing our business and contributing to society’s net-zero goals. This funding is the permanent geological storage of CO. Will advance and accelerate our project, which has the potential to significantly increase capacity for.2 In Alberta. “
Don Lawton, Director of Carbon Management Science, Canada and Professor Emeritus of the University of Calgary.

“Within Alberta, CCUS is a key component of the technology portfolio needed to achieve climate and energy development goals. With this support, we have a future CCUS network that meets our expected CO objectives. You can establish an evaluation tool to support your development.2 Supply from various sources. ”
RJ Chalaturnyk, Professor of Geoengineering, University of Alberta

“Both technological advances and social licenses to operate play an appropriate role in advancing and achieving Net Zero’s goals in society. This funding is for long-term CO monitoring and verification. Promote and accelerate scientific communication and technological research.2 Storage in close collaboration with Shell Canada. “
Mirko van der Baan, Professor, Faculty of Physics, University of Alberta

Additional projects selected in ACT Call 3 can be found here.

In addition to leveraging international funding for CCUS initiatives, partnerships with innovation organizations around the world represent an important opportunity for future collaboration and knowledge sharing. All projects present goals and plans at the Annual ACT Knowledge Sharing Workshop, and all recipients are required to produce a publicly shared final results report for the broader interests of Alberta.

Alberta’s CCUS-related investments (Shell Quest, Alberta Carbon Trunk Line, ERA’s $ 35 Million Grand Challenge: Innovative Carbon Use, NRG COSIA Carbon XPrize, and Alberta Carbon Conversion Technology Center (ACCTC)) are also states. I put it in the best position to create. New knowledge and shared expertise gained through these world-leading initiatives.

Emission Reduction About Alberta (ERA):
For 12 years, ERA has invested revenue from carbon prices paid by large end emitters to accelerate the development and adoption of innovative clean technology solutions. Since its founding in 2009, ERA has invested $ 996 million in $ 6.5 billion worth of 222 projects that will lead to GHG reductions, the creation of competitive industries and new business opportunities in Alberta. These projects are estimated to reduce cumulative CO2e by 42 million tonnes by 2030.

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Canadian Business Journal, Alberta Partner, Global CCUS Initiative to Leverage Investment from Eight Countries

Source link Canadian Business Journal, Alberta Partner, Global CCUS Initiative to Leverage Investment from Eight Countries

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