- Direct Air Capture (DAC) Investment: $5M allocated to Carbon Engineering ULC to innovate DAC systems and strengthen Canada’s carbon management leadership.
- Broad Clean Tech Support: Additional $7.5M for five clean technology projects tackling industrial emissions in British Columbia.
- Provincial Leadership: Funding aligns with British Columbia’s reputation for driving emissions-reducing innovation and green job creation.
Vancouver, Canada – December 2024 – The Canadian government is making bold investments to decarbonize heavy-emitting industries and support clean technology innovation in British Columbia. $12.5 million in funding was announced by Jonathan Wilkinson, Minister of Energy and Natural Resources, targeting advancements in carbon management and industrial emissions reduction.
“With a thriving research and development sector, British Columbia is well-positioned to leverage innovators reducing emissions and driving net-zero-focused innovation,” Wilkinson said.
Focus Areas
- Direct Air Capture (DAC):
- $5M to Carbon Engineering ULC to enhance DAC technology, which extracts CO2 directly from the air.
- Innovations will include exploring electrification and reducing facility footprints to improve efficiency.
- Wilkinson emphasized DAC’s potential: “This provides a critical tool for a low-carbon future by decoupling emissions from their source.”
- Clean Tech Projects:
- $7.5M across five projects to address industrial emissions, including:
- $2.5M: British Columbia Biocarbon Ltd.
- $1.8M: Arca Climate Technologies Inc.
- $1.5M: University of British Columbia.
- $980,500: Parkland Refining (BC) Ltd.
- $710,000: Highbury Energy Inc.
- $7.5M across five projects to address industrial emissions, including:
Related Article: Climate Investment Funds Launches $1 Billion Initiative for Industry Decarbonization
“These projects highlight Canada’s commitment to advancing green technologies while creating meaningful jobs,” said Adrian Dix, BC Minister of Energy and Climate Solutions.
Leadership in Green Innovation
The funding reinforces British Columbia’s role as a hub for emissions-reducing innovations and complements a carbon management profile developed by the Regional Energy and Resource Tables.
Patrick Weiler, MP for West Vancouver–Sunshine Coast–Sea to Sky Country, added:
“Canada is advancing Carbon Engineering’s DAC technology as part of our broader work to create good local jobs, secure prosperity, and fight climate change.”
Looking Ahead
Canada’s investments in clean technologies underscore its commitment to achieving net-zero emissions while driving economic growth. With this funding, British Columbia solidifies its status as a leader in green innovation, ensuring sustainable prosperity for future generations.
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