Alberta’s Energy Transition Hub: Canada Invests in Clean Technology Industry￼
With global energy needs on the rise, markets around the world are looking for more sustainable solutions to meet demands. Many are looking at the clean technology sector as an opportunity to strengthen the Canadian economy while creating quality jobs and contributing to a low-carbon future. The recent Alberta Energy Transition Study suggests the clean technology sector could contribute $61 billion to the country’s gross domestic product and create as many as 170,000 jobs by 2050 in Alberta alone. The Canadian Government is dedicated to ensuring Canada is a leader in the development of clean technology solutions and is also committed to helping Canadian businesses capitalize on the rapid growth within the sector.
Minister of Northern Affairs, Minister responsible for Prairies Economic Development Canada, and Minister responsible for the Canadian Northern Economic Development Agency, the Honourable Daniel Vandal, along with the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance, recently announced more than $3 million in federal investment to help strengthen collaboration, advance emerging leadership, and attract private sector investment that will help grow businesses operating in Alberta’s clean technology sector.
“The Government of Canada is making strategic investments to build on Alberta’s strengths in clean technology, including its talent, energy expertise, and emerging capabilities in energy transition. Our support for an Energy Transition Centre in the heart of downtown Calgary and a proven accelerator for clean technology companies will help ensure that Alberta businesses can capitalize on these advantages and capture significant global market share in the clean technology sector,” explained the Honourable Daniel Vandal, Minister of Northern Affairs, Minister responsible for Prairies Economic Development Canada and Minister responsible for the Canadian Northern Economic Development Agency.
A new Energy Transition Centre in the heart of Calgary will be supported by more than $2.1 million of this federal contribution. The University of Calgary, along with private sector partner Avatar Innovations, plan to transform vacant office space in downtown Calgary into an innovation hub for the development of clean energy technologies.
“As the energy industry evolves, Alberta has the know-how and determination to be a leader in innovative clean energy solutions. With this investment, our government is taking action to ensure that Alberta remains a leader in the global energy industry for generations to come. Our support will enhance collaboration, investment, and innovation to help Alberta businesses and workers thrive in the clean technology sector,” added the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance.
Clean energy start-ups, innovators and investors will all be able to collaborate with Canada’s largest energy companies once The Energy Transition Centre has been completed. It is expected that The Centre will also facilitate access to specialized equipment, energy transition subject matter experts and entrepreneurship programming. Projections estimate that this central hub and world-class centre for energy transition will contribute to the creation of at least 25 new businesses within the next three years and support the growth of many others in the sector.
The Foresight Clean Technology Accelerator Centre will be able to offer its proven accelerator programs in Alberta thanks to an additional $900,000 investment through PrairiesCan. Clean technology organizations at various stages of scaling up need training and investment to grow and capture global market share and Foresight will have the funds to provide it.
“Calgary is well-positioned to continue leading in clean energy through our dynamic, experienced workforce and leading research institutions. This investment will empower our government to tap into local infrastructure and talent, driving innovation forward in Canada’s energy capital, helping us meet our emissions targets, and creating good jobs for Calgarians,” said George Chahal, Member of Parliament for Calgary Skyview.