In an effort to maximize and accelerate the decarbonization of Newfoundland and Labrador’s offshore through the development of carbon capture, utilization and storage (CCUS), the Honourable Dr. Andrew Furey, Premier of Newfoundland and Labrador, on October 17th announced a new CCUS Innovation Challenge.Through the CCUS Innovation Challenge, the Department of Industry, Energy and Technology is inviting expressions of interest for financial support to qualifying businesses, organizations and researchers engaged in research and development focused on the development of CCUS in Newfoundland and Labrador’s offshore. Up to $6 million in Provincial Government funding has been allocated for two streams of work:<ul><li>Up to $3 million to support research and development to advance the development of CCUS to decarbonize ongoing oil production in the province’s offshore; and</li><li>Up to $3 million to support studies of the potential and feasibility of the province’s offshore to serve as a regional CCUS hub for the storage of locally and externally-produced carbon dioxide.</li></ul>To learn more about CCUS, please see the backgrounder below.The funding can support up to 50 per cent of eligible project costs. Proposals must be submitted jointly by industry and academic partners to promote cooperation between these sectors. Lead applicants must be post-secondary institutions in Newfoundland and Labrador with CCUS research experience, and registered incorporated businesses with at least two years of offshore operations in the province. For more information see the backgrounder below, or contact&nbsp;<a href="mailto:CCUS@gov.nl.ca">CCUS@gov.nl.ca</a>.Premier Furey was joined in making the announcement by the Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology, the Honourable Bernard Davis, Minister of Environment and Climate Change, as well as Dr. Lesley James, a professor with the Memorial University Department of Process Engineering, Kieran Hanley, Chief Executive Officer of econext and Charlene Johnson, Chief Executive Officer with Energy NL.Offshore CCUS can play a key role in helping Newfoundland and Labrador achieve its greenhouse gas reduction targets. The province’s offshore storage potential could also help other jurisdictions to meet their own emissions reduction targets.Quotes “The CCUS Innovation Challenge will help ensure Newfoundland and Labrador’s educational institutions, businesses and workers are at the forefront of this emerging technology, with the goal of creating new, highly-skilled jobs here at home, and solutions that can help Canada and the world to achieve vital decarbonization goals.” Honourable Dr. Andrew Furey Premier of Newfoundland and Labrador“As net zero will not be achieved without large-scale carbon capture technology and storage, offshore carbon storage represents an excellent economic opportunity for Newfoundland and Labrador given its vast offshore storage potential and existing offshore workforce and infrastructure.” Honourable Andrew Parsons, KC Minister of Industry, Energy and Technology“Carbon capture and storage has an important role to play in mitigating climate change and attaining our net zero goals. We are pleased to support the CCUS Innovation Challenge as an impactful initiative to reduce greenhouse gas emissions, promote clean innovation and growth, and support the green economy.” Honourable Bernard Davis Minister of Environment and Climate Change“It is exciting to be part of energy-related research and development efforts. Carbon storage is taking our oil and gas subsurface knowledge and turning it upside down. Engineering wise, it’s exciting to re-think and re-work a complex problem with new objectives and constraints. To educate and train students and ourselves to solve a global greenhouse gas problem and find local innovations and solutions is inspiring.” Dr. Lesley James Professor, Memorial University“Our analysis tells us that net zero by 2050 is not achievable in Newfoundland and Labrador without initiatives that result in negative GHG emissions. Carbon capture, utilization, and storage is a promising technology that can help us – and the world – get there. Therefore, econext is excited about the creation of the CCUS Innovation Challenge. Targeted investments in innovation like the one being made today will help put our province on the leading edge of cleantech development on an international basis.” Kieran Hanley, CEO econext“Carbon capture and storage has the potential to further decarbonize our already lower carbon offshore, while also extending the life cycle of current projects. The CCUS Innovation Challenge is an important way to bring together offshore companies and academic institutions and help move our sector forward. I highly anticipate the role Energy NL members will play in making this exciting initiative a success.” Charlene Johnson, CEO Energy NL &nbsp;

thumbnail_Premier-Furey-CCM_1698164632257-300x300-noup.jpg

Premier-Furey-CCM_1698164632257-300x300-noup.jpg

The Honourable Dr. Andrew Furey, Premier of Newfoundland and Labrador, on October 17th announced a new CCUS Innovation Challenge in an effort to accelerate decarbonization

Premier Furey launches new CCUS innovation challenge

Related Stories

Brewery-Inspired Scalable CO2 Liquefaction Solves Missing Link for Carbon Capture Startups

Ash Grove Cement and Carbon Upcycling Technologies Break Ground on Carbon 1 Mississauga

ANPG and Azule Energy Announce First Oil from the Agogo FPSO

Global Climate Experts Join Forces to Launch the Global Carbon Management Academy

Crusoe and Tallgrass Announce AI Data Center in Wyoming

Upcoming Events

North American SAF Conference & Expo

Premier Furey launches new CCUS innovation challenge.css-7jxktu{position:absolute;bottom:0px;left:0px;right:0px;height:3px;border-radius:3px;background-color:var(--chakra-colors-brandBlack);}