Published: July 12, 2012


Energy Firms Collect $46 Million Towards Six Projects which Aim to Cut Carbon Dioxide Emissions

EDMONTON – Alberta’s climate-change technology fund announced $46 million Thursday for six energy companies designing projects to reduce greenhouse gas emissions.

The money comes from the Climate Change and Emissions Management Corp. (CCEMC), a nonprofit, arm’s-length group created by the Alberta government.

It invests money collected from Alberta firms whose greenhouse emissions total more than 100,000 tonnes of a year who have to buy offsets, reduce emissions or send $15 per carbon tonne over target to the fund. It has grown to $312 million, with more than $167 million paid out to 31 clean energy projects.

Alberta Environment Minister Diana McQueen said the projects show the province is “striking a balance between environmental protection and economic growth and clean-energy development.”

Companies receiving money in this fourth round of funding are Cenovus Energy, Husky Energy, Imperial Oil, Svante Inc. (formerly Inventys Thermal Technologies Inc.), MEG Energy Corp., and N-Solv Corp. Their projects have a combined value of $327 million and are expected to reduce Alberta’