Canada Opens Intake for Expressions of Interest on Carbon Storage and Transportation
HAMILTON, ON, Jan. 25, 2023
HAMILTON, ON, Jan. 25, 2023 /CNW/ - Climate change is the greatest challenge of our time, but it is also our greatest economic opportunity. We are investing to make Canada a leader in new technologies that will build lower emissions and fight climate change while also creating good jobs and supporting a strong, competitive and resilient economy.
Today, the Honourable Jonathan Wilkinson, Minister of Natural Resources, opened the intake for expressions of interest for carbon capture, utilization and storage (CCUS) research, development and demonstration (RD&D) projects and related science activities focused on carbon storage and transportation. CCUS technologies help prevent gasses from heavy emitting industries from polluting the air. This results in lower emissions and more good, sustainable jobs.
Funded under the Energy Innovation Program, RD&D projects and related science activities selected through this intake will help develop permanent geological storage of carbon and technologies that support the safe and efficient transportation of CO2.
The intake is also expected to support planning and development activities for CO2 storage and transportation hubs — addressing technical, scientific or social licence barriers and generating knowledge to support the development of regulatory frameworks, codes and standards.
The intake for expressions of interest for storage and transportation RD&D projects and related science activities will remain open until April 17, 2023. Successful applicants will then be invited to submit a full project proposal.
This represents the second intake under the broader CCUS RD&D call for carbon capture RD&D projects launched in July 2022. A third intake for utilization RD&D projects is expected to launch later this year.
The International Energy Agency has been clear: carbon capture, utilization and storage is an important emissions-reduction technology that can be applied across the energy system. While technology alone is not a solution to climate change, the Government of Canada is committed to accelerating the development of new technologies that will help build a clean energy future while creating economic opportunities for Canadian workers and industries.
Through Budget 2021, the federal government is investing $319 million in research, development and demonstrations to advance the commercial viability of CCUS technologies. These funds will support businesses, academia, non-profits, government and public laboratories. Additionally, through its 2030 Emission Reduction Plan and Budget 2022, the government reaffirmed its commitment to develop a carbon management strategy for Canada and proposed a refundable investment tax credit valued at $2.6 billion over five years to incentivize the development and adoption of CCUS technology to help industries in their journey to net-zero emissions.
"Many of the technologies needed to reach our goal of net zero by 2050 are still in various stages of development, including decarbonization solutions such as CCUS. The Government of Canada is investing in innovative clean energy RD&D projects to help grow the economy, fight climate change and create good jobs for Canadian workers."
The Honourable Jonathan Wilkinson
Minister of Natural Resources
- The first call in support of CCUS innovation focused on front-end engineering and design (FEED) studies for large-scale projects. It resulted in 11 projects being selected for funding, representing a total investment of up to $50 million.
- It is anticipated that 95 percent of all captured CO2 will need to be permanently stored to achieve net-zero emissions.
- Increased use of CCUS features in the mix of every credible path to achieving net zero by 2050, including all 1.5°C pathways developed by the United Nations Intergovernmental Panel on Climate Change and the International Energy Agency.
- Intake for Expressions of Interest: Storage and Transportation RD&D Projects and Related Science Activities
- Carbon Capture, Utilization, and Storage
- Energy Innovation Program
- 2030 Emissions Reduction Plan: Clean Air, Strong Economy
- Call for Expressions of Interest: Carbon Capture RD&D Projects
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SOURCE Natural Resources Canada