Canada Invests in Cutting-Edge Carbon Capture and Storage to Drive Clean Energy Innovation
Ottawa, ON – February 12, 2025 – The Government of Canada announced today a significant investment of $500 million in cutting-edge carbon capture and storage (CCS) technologies, demonstrating its commitment to driving clean energy innovation and achieving its climate change goals.
CCS is a crucial technology for reducing greenhouse gas emissions, particularly in sectors where emissions are difficult or impossible to mitigate. It involves capturing carbon dioxide (CO2) from industrial processes or power plants and transporting it to suitable geological formations for long-term storage.
“This investment marks a significant step forward in our collective efforts to decarbonize Canada’s economy,” said Minister of Natural Resources, Amarjeet Sohi. “CCS technologies have the potential to unlock vast emission reductions and play a major role in helping us meet our Paris Agreement commitments.”
The funding will support research and development, pilot projects, and commercial deployment of CCS technologies across various industrial sectors, including oil and gas, power generation, and manufacturing. The government will prioritize projects that demonstrate innovation, scalability, cost-effectiveness, and a high potential for carbon emission reductions.
“The CCS industry in Canada is poised to become a global leader,” said Peter Tertzakian, Chief Energy Economist at ARC Energy Research Institute. “This investment will accelerate the development of technologies that will not only benefit Canada but also contribute to global efforts to combat climate change.”
The government’s CCS investment aligns with its broader climate change strategy, which includes a goal of achieving net-zero emissions by 2050. By supporting CCS technologies, Canada aims to create economic opportunities, reduce its reliance on fossil fuels, and contribute to global efforts to mitigate climate change.
The funding will be administered by the Petroleum Technology Alliance Canada (PTAC), a not-for-profit organization that supports the advancement of energy technologies. PTAC will work with industry, academia, and research institutions to identify and support the most promising CCS projects.
“We are excited to partner with the Government of Canada in this important initiative,” said PTAC CEO, Chris Bloomer. “Together, we will accelerate the development and deployment of CCS technologies that will help Canada achieve its climate change goals and create jobs for the future.”
The CCS investment is expected to have a significant impact on Canada’s energy sector and contribute to the country’s transition to a clean and sustainable energy system.
Canada Invests in Cutting-Edge Carbon Capture and Storage to Drive Clean Energy Innovation
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