March 09, 2022 13:45 ET | Source: Clean Resource Innovation Network Clean Resource Innovation Network

CALGARY, Alberta, March 09, 2022 (GLOBE NEWSWIRE) -- Clean Resource Innovation Network (CRIN)

Today CRIN is announcing funding of over $44 million CAD for 17 projects identified through its Reducing Environmental Footprint oil and gas technology competition. This brings the total investment through three competitions to $80 million. CRIN’s competitions are designed to accelerate solutions that have the potential for significant contributions to environmental and economic challenges faced by Canada’s oil and gas industry, including emissions reduction and climate change.

Early analysis by the 17 proponents suggests significant reductions in impacts to air, land and water from oil and gas industry activity from source to end use. These include potential combined accumulative direct and indirect contributions* of:

In addition to environmental benefits, CRIN competitions are designed to accelerate innovations with strong potential to provide significant benefits for Canada such as:

Combined Reducing Environmental Footprint oil and gas technology competition project value is estimated at $177 million, including CRIN funding of $44.6 million. This competition focused on specific objectives within priority theme areas defined by industry:

Projects identified for funding: CRIN Reducing Environmental Footprint Technology Competition

“The environmental and innovation leadership of CRIN is critical to helping Canada transition to a low-carbon economy. The funding we’re providing will support the recipients to significantly reduce the sector’s impacts on air, land and water while giving Canadian businesses the tools to grow. We all must work together to lower our emissions and tackle climate change.”

– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

“CRIN is pleased to support these diverse projects that will significantly contribute to Canada's achievement of identified targets for reductions in greenhouse gas emissions, and land and water impacts. Most have high potential for commercialization across multiple industries, which will help increase these positive impacts beyond the oil and gas sector and internationally. Canada can be proud of its innovation community.”

– Ginny Flood, Chair, Clean Resource Innovation Network

“ERA has a long history working with partners to help mobilize the large-scale public and private investments in the technology needed to turn climate change ambitions into emissions-reducing action. All 17 projects include a partnership between a large oil and gas company and a small and medium enterprise. By design, this competition will reduce emissions, and create more competitive Canadian industries.”

– Steve MacDonald, CEO, Emissions Reduction Alberta (competition coordinator)

CRIN’s trio of oil and gas technology competitions have now identified $80 million in support of 28 projects. This investment in clean hydrocarbons is made possible by funding from the Government of Canada’s Strategic Innovation Fund (SIF):

Project teams were required to include a SME technology solution developer working in partnership with at least one oil and gas producer to demonstrate vital collaboration, industry investment, and technical expertise and facilities or sites that are necessary to pilot and scale innovation for commercialization.

CRIN’s two-stage Reducing Environmental Footprint Technology Competition included a field of over 65 eligible applicants in the expression of interest phase with 22 finalists invited to the full project proposal phase.

Metrics: Early analysis by the 17 proponents suggests significant reductions in impacts to air, land and water from oil and gas industry activity from source to end use. These include potential combined accumulative direct and indirect* contributions of:

* Emissions reductions are projections provided by project proponents based on estimated market uptake of clean technologies and as a result are preliminary. Indirect contributions include market uptake of the technology within Canada’s oil and gas sector as contemplated by the project proponents. These figures do not include potential broad adoption in other industries such as cement, agriculture, mining, pulp and paper, etc.

The Clean Resource Innovation Network (CRIN) is a pan-Canadian network focused on ensuring Canada’s hydrocarbon resources are sustainably developed and integrated into the global energy systems. CRIN, as a ‘network of networks,’ connects a vast array of skills, knowledge and experience from oil and gas and other industries to technology developers, researchers, government, investors, academia, entrepreneurs, youth and many other sectors. By identifying industry challenges, we create a market pull to accelerate commercialization and widespread clean technology adoption with environmental, economic and public benefits for Canada. CRIN is supported in part by a $100 million investment from the Government of Canada’s Strategic Innovation Fund. Join the CRIN network today to see how the network can support your project!

Strategic Innovation Fund (SIF) SIF supports national innovation ecosystems, pan-Canadian network-led projects that involve a high degree of collaboration to stimulate innovation and commercialization in areas of Canadian advantage and enhance linkages between businesses and academia/research bodies. CRIN uses the SIF investment to administer initiatives in seven technology focus areas for activities related to ecosystem growth, enhancement and long-term sustainability. These technology focus areas have the highest potential for reducing the greenhouse gas emissions and environmental footprint of the oil and gas sector, helping advance net-zero emissions targets. At least half of this funding will go to small and medium-sized businesses, and all will contribute to helping the oil and gas industry continue to create public and economic benefits for Canada alongside environmental benefits.

Janice Harvie Member Engagement & Outreach Coordinator Clean Resource Innovation Network jharvie@cleanresourceinnovation.com

Lisa Rushka 403 816 1038 lisar@momentumcommunications.ca