Government of Canada invests in Alberta's clean technology industry, Energy Transition Hub
More than $3 million through Prairies Economic Development Canada will support an Energy Transition Centre in downtown Calgary, build entrepreneurship capacity and grow Alberta's clean technology companies
CALGARY, AB, Jan. 19, 2022 /CNW/ - As global markets increasingly look for more sustainable solutions to meet energy needs, the clean technology sector presents an opportunity to strengthen the Canadian economy, create quality jobs, and contribute to a low-carbon future. A recent Alberta Energy Transition Study suggests the clean technology sector could create 170,000 jobs and contribute $61 billion to gross domestic product by 2050 in Alberta alone. The Government of Canada is committed to helping Canadian businesses capitalize on this rapid growth and to ensuring Canada is a leader in the development of clean technology solutions.
Today, 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, and the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance, announced a federal investment of more than $3 million to strengthen collaboration, advance emerging leadership, and attract private sector investment that will help grow businesses operating in Alberta's clean technology sector.
More than $2.1 million of this federal contribution will support an Energy Transition Centre in downtown Calgary. Federal funding will enable the University of Calgary and private sector partner Avatar Innovations to transform vacant office space in central Calgary into an innovation hub that advances the development of clean energy technologies.
The Energy Transition Centre will provide a space where Canada's largest energy companies collaborate with clean energy start-ups, innovators and investors. The Centre will facilitate access to specialized equipment, energy transition subject matter experts and entrepreneurship programming. As a central hub and world-class centre for energy transition, this initiative is expected to contribute to creating at least 25 new businesses over the next three years, and support the growth of many others operating in the clean energy sector.
An additional $900,000 investment through PrairiesCan will enable the Foresight Clean Technology Accelerator Centre to offer its proven accelerator programs in Alberta. Foresight will use funds to provide the training and investment attraction initiatives that clean technology organizations at various stages of scaling up need to grow and capture global market share.
"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 technolgy sector."
"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."
"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."
"The opportunity for economic growth in Calgary, spurred by clean tech and energy transformation, hinges on significant investment. The City of Calgary is pleased to see federal dollars directed towards innovative players such as Avatar Innovations, University of Calgary and Foresight. We are proud to be working alongside key partners to establish Calgary as a centre for excellence in the energy transition economy which in turn will act as a major catalyst for downtown revitalization."
"This generous funding takes us another step toward establishing Calgary as Canada's hub for the transition to a low carbon energy future. Finding solutions for sustainable energy production rests at the heart of the Energy Transition Centre, and the University of Calgary has been hard at work with our partner, Avatar Innovations in spearheading this transformation. This effort plays a vital role in revitalizing Calgary's economy, and we're proud to be a part of this entrepreneurial solution."
"Abundant, affordable and net-zero energy is the single greatest economic opportunity of our generation. Today, the Government of Canada stood up with industry, academia and thousands of energy workers to make this future a reality. Avatar looks forward to expanding the Energy Transition Center and realizing this opportunity for Alberta and all of Canada."
"Alberta has a strong track record of innovation and excellence in clean technologies. We are pleased to support the growth and impact of cleantech in Alberta in our efforts to position Canada as a world leader in cleantech by accelerating the growth of ventures with problem-driven solutions. Our acceleration and adoption programs and events provide learning, coaching, and connections that help innovators bring their solutions to market faster, creating a strong net zero economy and driving significant growth in green jobs."
SOURCE Prairies Economic Development Canada
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