Alberta's ERA Allocates $51 Million to 16 Clean Tech Projects
AI-generated image · Bay Street Wire
Funding from the TIER Fund targets emissions reductions across resource-based industries, from carbon capture to drone-led infrastructure.
Emissions Reduction Alberta (ERA) has announced nearly $51 million in funding for 16 innovation projects designed to lower greenhouse gas emissions and stimulate economic growth, BetaKit reports. The projects represent an estimated $180 million in prospective value and span several sectors, including agriculture, transportation, construction, electricity generation, and oil and gas.
Specific investments highlighted by BetaKit include: * **Svante Technologies**: $7 million for a carbon capture project located in Peace River, Alberta. * **Blackspring Ridge 1**: A wind project that received $10 million and has previously met or exceeded its emissions forecasts. * **Brooks Newell Hydrogen Hub**: $5 million for development. * **FulcrumAir**: A Calgary-based company developing unmanned drones for transmission line installation. * **Mangrove Lithium**: A project focused on substituting emissions-heavy cement ingredients with lithium byproducts. * **Rotoliptic**: A project developing oilfield pump technology that received $1.5 million but fell short of initial forecasts.
According to ERA, these 16 initiatives could reduce emissions by 117,700 tonnes of CO2 by 2030—roughly equivalent to removing 39,000 cars from the road. The agency also estimates the projects will generate approximately 1,556 person-years of employment.
These investments are provided through the Technology Innovation and Emissions Reduction (TIER) Fund, which is funded by industry. BetaKit notes that since 2009, ERA has delivered over $1 billion in investments across 368 projects.