The EOI aims to advance the country’s status as a leader in new technologies to strengthen its economy and fight climate change by reducing emissions in hard-to-abate sectors of heavy industry such as steel and cement.
With applications now open until 3rd October 2022, carbon capture RD&D projects selected through the call will be funded under the Energy Innovation Program to eventually be integrated with carbon-intensive industry.
Having emphasised the importance of CCUS as an emissions-reduction technology, the International Energy Agency (IEA) sees carbon capture as an essential step towards reaching net zero targets.
“Many of the technologies needed to reach our goal of net zero by 2050 are still in various stages of development, including decarbonisation solutions such as CCUS,” commented Jonathan Wilkinson, Minister of Natural Resources.
“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.”
These investments include the federal government’s Budget 2021, which sees $319m injected into RD&D to advance the commercial viability of CCUS technologies.
In addition, the government’s 2030 Emission Reduction Plan and Budget 2022 proposed a refundable investment tax credit worth $2.6bn over the next five years to incentivise the development and adoption of CCUS technology.