Alberta Innovates, a provincial corporation that reports to the Minister of Jobs, Economy and Innovation, is getting $50 million from the province’s Technology Innovation and Emissions Reduction (TIER) fund to spark further investment in clean energy. The funding will be spread over three years, and will be given to technologies that help reduce methane emissions and improve industrial energy efficiency.
“We’re looking for projects that are shovel-ready, that we can get underway quickly,” Laura Kilcrease, CEO, Alberta Innovates, said at an October 27, 2020 digital press conference.
Alberta’s TIER fund holds payments from large emitters who exceed their greenhouse gas emission limits. In September 2020, Alberta announced that it would empty its TIER fund, earmarking its $750-million account to initiatives that would reduce emissions and create jobs. Since then, it has announced TIER funding for methane programs, carbon capture, utilization and storage programs, flood resilience programs, and the construction of a renewable natural gas and clean fertilizer facility.
Alberta expects the $50-million portion going to Alberta Innovates could leverage almost $150 million in private sector investment and create 910 jobs.
Individual projects will be eligible for between $200,000 and $5 million of support. Applicants will have to supply a minimum of 25% of the total project funding.
Applications may be submitted through the Alberta Innovates Application Portal until November 30, 2020.