Gulf Oil and Gas accountACCOUNT

Canada Invests $950,000 in New Carbon Capture Technology

Source: www.gulfoilandgas.com 9/14/2017, Location: North America

Supporting clean technology will create good, middle-class jobs, improve the environmental performance of Canada’s oil and gas sector and help address climate change. On behalf of Canada’s Minister of Natural Resources, the Honourable Jim Carr, Member of Parliament Joe Peschisolido today announced that the Government of Canada is investing $950,000 in state-of-the-art technology that will help turn carbon emissions into useful, everyday products such as building materials, alternative fuels and consumer goods.

The investment enables the Carbon Capture and Conversion Institute (CCCI) in Richmond, B.C., to design, acquire and install equipment to be used for carbon capture and turning carbon dioxide emissions into consumer-friendly products.

Carbon capture and utilization technology creates new products and business revenue stream opportunities while improving our environmental performance, creating jobs and driving clean growth in the process. The new, specialized research equipment will also allow researchers from industry, government and academic institutions to collaborate and test innovative carbon use technologies more rapidly and cost-effectively.

This investment in the Richmond facility complements another announced last spring in Calgary to help fund the Alberta Carbon Conversion Technology Centre, capable of testing carbon conversion at near-industrial scale. Together, the two test centres will provide a full spectrum of research and development solutions for carbon capture, utilization and storage development, and test facilities for early- and late -stage projects.

The funding announcement was made during the official opening celebration of BC Research Inc.’s Technology Commercialization and Innovation Centre, where the CCCI’s new pilot laboratory is located.

Quotes

“By re-imagining carbon, we can create new industries, good jobs and a cleaner energy future. That’s why our government is supporting innovative research across the country. This includes a $950,000-investment in state-of-the-art equipment and research that could help turn carbon emissions into useful, everyday products.”

Joe Peschisolido
Member of Parliament for Steveston–Richmond East

“This strategic investment from Natural Resources Canada allowed the Carbon Capture and Conversion Institute to purchase state-of-the-art process equipment and analytical instruments necessary for clean technology development. We are now able to compete on the world stage and are attracting industry, academic and government developers from across Canada and abroad.”

Goran Vlajnic
Executive Director, Carbon Capture and Conversion Institute

“BC Research has always believed in the value to Canada of being at the forefront of greenhouse gas mitigation and sustainable development. We became CMC Research Institutes’ partner in promoting and supporting this concept from its inception, and we are committed to its future success.”

Hassan Hamsa
President, BC Research

Investment News in Canada >>

Egypt >>  12/4/2019 - Egypt inked an executive agreement with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB), to...
Romania >>  12/2/2019 - Reabold, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, is pleased to announce that it has ful...

Russia >>  11/18/2019 - Today in Nizhny Novgorod President of LUKOIL Vagit Alekperov had a meeting with the Envoy of the Russian Federation President to the Volga Federal Dis...
Kuwait >>  11/13/2019 - Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, announced its first equity investment in Kuwait wi...

Australia >>  11/11/2019 - Woodside has taken a final investment decision on the pipeline component of the Pluto-North West Shelf (NWS) Interconnector and has entered into cont...
Japan >>  11/11/2019 - Marubeni Corporation (Marubeni) and Interstellar Technologies Inc. (hereinafter, “IST”) entered into a capital partnership via Marubeni’s investment i...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Canada Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.