In a significant step towards advancing environmental sustainability and economic growth, the Alberta government has announced a $44 million funding initiative aimed at helping small and medium-sized businesses (SMEs) reduce emissions and save money. Minister of Environment and Protected Areas Rebecca Schulz revealed the funding plan at an event, emphasizing the critical role that SMEs play in Alberta’s economy and their potential to drive innovation in emissions reduction technologies.
Speaking to a packed audience, Minister Schulz highlighted the importance of small businesses in the province. “Small businesses are the heart of our economy,” Schulz stated. “They make up 96% of all businesses and employ hundreds of thousands of people across Alberta. They are the backbone of our communities and the drivers of our prosperity.” The minister praised Alberta’s entrepreneurial spirit, noting that small businesses are often at the forefront of finding new ways to solve problems, streamline operations, and develop cutting-edge technologies.
Minister Schulz cited several examples of innovative Alberta-based companies making strides in emissions reduction. Ever Technologies, a Calgary startup, is developing the world’s first commercially operational geothermal EverLoop in Germany. Carbon Upcycling, another Calgary-based startup, is utilizing CO2 emissions to enhance everyday materials like concrete, plastics, and batteries.
The $44 million investment will support over 21 small and medium-sized businesses in scaling up, piloting, and demonstrating their projects. “We are tapping into the entrepreneurial and innovative spirit of Albertans to advance new technologies that will create jobs, reduce emissions, and grow the economy,” Schulz said.
The funding will be distributed across various sectors, including power generation, agriculture, forestry, oil and gas, and construction. This diverse application aims to ensure that the benefits of the investment reach all corners of Alberta’s economy. Projects receiving funding include an AI-powered lighting system designed to grow plants more efficiently while reducing energy costs and a new geothermal project that could potentially power homes and businesses across the province.
One of the highlighted recipients is SixRing, which will receive $5 million to transform their testing facility into a commercial operation in Lethbridge County. SixRing’s work in biomass technology exemplifies the innovative potential in Alberta. The company is focused on creating renewable diesel and ethanol for sustainable aviation fuel, among other products.
Justin Riemer, CEO of Emissions Reduction Alberta (ERA), also addressed the audience, stressing the economic impact of the funding. “These projects have the potential to reduce 5 million tons of emissions by 2050 and could lead to almost $240 million in gross domestic product in Alberta by 2027,” Riemer said. He underscored the importance of SMEs in driving innovation and attracting investment to Alberta’s clean technology sector.
The ERA has been instrumental in managing the funding process, using revenues from the carbon levy to support clean technology solutions. Riemer noted that ERA has committed nearly $1 billion to 299 projects since 2009, with a funding leverage of $8 for every $1 invested by ERA. This initiative is expected to create over 850 jobs, further emphasizing the economic benefits alongside the environmental gains.
Minister Schulz also discussed her recent meetings with federal environment ministers, expressing concerns about federal policies that she believes may hinder Alberta’s progress. She reiterated Alberta’s opposition to the clean electricity regulations and the upcoming oil and gas emissions cap, advocating instead for investments in technology, jobs, and economic growth. “Alberta has shown everyone that you can lead the way on emissions reduction, environmental stewardship, and responsible resource development without compromising our economy,” Schulz asserted.
By supporting SMEs in their innovative efforts, Alberta aims to position itself as a leader in global emissions reduction technology and sustainable energy solutions.