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Prairies Economic Development Canada (PrairiesCan) have announced a federal investment of more than $3 million to help businesses in Alberta’s clean tech sector strengthen collaboration, advance emerging leadership and attract private sector investment.
AN INNOVATION HUB AT THE HEART OF DOWNTOWN CALGARY
At least $2.1 million of this federal contribution will allow the University of Calgary and Avatar Innovations to transform vacant office space in downtown Calgary to an Energy Transition Centre, which will serve as an innovation hub advancing the development of clean energy technologies.
The remaining $900,000 is earmarked for the Foresight Clean Technology Accelerator Centre to offer its proven accelerator programs in Alberta, along with providing training and investor attraction initiatives that clean tech organizations need to further grow.
“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,” remarks the Honourable Daniel Vandal, Minister of Northern Affairs. “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.”
CALGARY: A CENTRE FOR EXCELLENCE IN ENERGY TRANSITION
The Energy Transition Centre will provide Canada’s largest energy companies, clean energy startups, innovators and investors alike a shared space to collaborate, while also facilitating access to specialized equipment, energy transition subject matter experts and entrepreneurship programming.
As a central hub and world-class centre for energy transition, the Energy Transition Centre is expected to contribute to creating more than 25 new businesses over the next 3 years, while also supporting the growth of many other organizations operating in the clean energy sector. It is expected to open in March 2022.
This investment positions Calgary to continue leading the way in clean energy, with an experienced oil and gas workforce, industry-leading research institutions, and a longstanding reputation as Canada’s energy capital. The Energy Transition Centre will also help ensure that Calgary becomes a centre for excellence in the realm of energy transition, while also acting as a major catalyst for downtown revitalization after years of a global pandemic.
“The opportunity for economic growth in Calgary, spurred by clean tech and energy transformation, hinges on significant investment,” says Calgary Mayor Jyoti Gondek. “The City of Calgary is pleased to see federal dollars directed towards innovative players such as Avatar Innovations, University of Calgary and Foresight.”
ALBERTA: A LEADER IN THE GLOBAL ENERGY INDUSTRY
The overall global shift towards more sustainable solutions to meet energy demands places the clean tech sector in a unique position to both strengthen the Canadian economy and contribute towards a low carbon energy future.
“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,” highlights the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance. “Our support will enhance collaboration, investment and innovation to help Alberta businesses and workers thrive in the clean technology sector.”
A recent Alberta Energy Transition Study conducted in December 2021 estimates that the clean tech sector could create upwards of 170,000 jobs in Alberta alone, and contribute $61 billion to Canada’s GDP by 2050.
PrairiesCan’s decision to support Alberta’s clean tech sector ensures that Canada will continue to serve as a leader in the development of clean energy solutions in the years to come, as well as support Canada’s commitment to achieve net zero carbon emissions by 2050.
