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
January 19, 2022 - Calgary, Alberta - Prairies Economic Development Canada (PrairiesCan)
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.
