Carbon Capture Kickstart
Highlights
This program is designed for businesses like yours that are looking to invest in carbon capture projects. By participating, you can access up to $5 million in funding for pre-construction studies, which will help you lay the groundwork for larger investments. This funding is crucial for reducing technical and financial uncertainties, making it easier for you to make informed decisions about future projects.
What's in it for you?
- Significant financial support: Up to $5 million in funding.
- Job creation: Potential to create thousands of jobs.
- Environmental impact: Contribute to reducing 24 million tonnes of emissions annually.
- Knowledge sharing: Gain insights from other funded projects and share your learnings.
The approval process is competitive but transparent, ensuring that only the most promising projects receive funding. By being approved, your business will be positioned as a leader in carbon capture technology, enhancing your reputation and opening doors to future opportunities. This program is easier to qualify for than many others, thanks to its focus on pre-construction studies and the support from both provincial and federal governments.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment required. This is a non-repayable grant.
Eligible Expenses:
- Pre-construction studies for facility-specific opportunities.
- Onsite carbon capture technology.
- Direct air capture technology.
- Direct carbon conversion technology.
- Strategic CO2 transportation infrastructure.
Ineligible Expenses:
- Capital costs for construction.
- Operational expenses not related to pre-construction studies.
Fees:
- No application or processing fees associated with this grant program.
Qualifications
- Must be located in Alberta.
- Must target specific existing large final emitter sites.
- Must be involved in industrial sectors such as power generation, cement production, industrial manufacturing, oil and gas, etc.
- Must propose a project with a minimum capture rate of 200 ktCO2 annually.
- For transportation network projects, must have a minimum annual transport volume of 1 MtCO2 and include multiple capture sites.
- Must demonstrate how the study will advance the project beyond the current state.
- Must be a technology developer, industry operator, industrial association, small or medium-sized enterprise (SME), municipality, or similar entity.
- Must be willing to engage and include Alberta’s post-secondary and research institutions in project consortia where appropriate.
- Must commit to publishing study learnings and key outcomes following completion.
- Must participate in an annual confidential roundtable with other recipients to discuss and share learnings and best practices.
- Must participate in a wrap-up public Lessons Learned event to share high-level outcomes of their studies.
Must provide Post Project Reports to inform ERA on project outcomes.
Disqualifications:
- Projects not located in Alberta.
- Projects not targeting specific existing large final emitter sites.
- Projects not meeting the minimum capture rate of 200 ktCO2 annually.
- Transportation network projects not meeting the minimum annual transport volume of 1 MtCO2 or not including multiple capture sites.
- Entities not willing to engage Alberta’s post-secondary and research institutions where appropriate.
- Entities not committing to the publication and sharing of study learnings and outcomes.
Description
This program offers your business a chance to receive up to $5 million in funding. This money is specifically for pre-construction studies related to carbon capture projects. These studies will help you understand the economic and emissions reduction potential of these technologies.
The funding can be used for:
- Onsite carbon capture
- Direct air capture
- Direct carbon conversion
- Strategic CO2 transportation infrastructure
The goal is to reduce technical and financial uncertainty, making it easier for you to make final investment decisions. The projects funded by this program aim to be operational by 2030, positioning your business as a leader in carbon capture technology.
Key benefits include:
- Significant financial support for pre-construction studies
- Potential for future investments and job creation
- Reduction in emissions, contributing to environmental sustainability
By participating, your business will gain valuable insights and contribute to shared learnings, benefiting both Alberta and Canada.
Program Steps
Register for an Informational Webinar: Sign up for a webinar to gain a comprehensive understanding of the program and its requirements.
Prepare Necessary Documentation: Gather the following documents:
- Business plan
- Financial statements
- Project proposal
- Details of intended use of funds
- Quotes for equipment or services
- Any previous studies or related documentation
Complete the Expression of Interest (EOI): Fill out the EOI form to express your interest in the program. Ensure all sections are completed accurately.
Submit the EOI: Send the completed EOI form and the necessary documents to the designated submission portal or email address.
Review and Feedback: Wait for the review team to assess your EOI. They may request additional information or provide feedback.
Submit Full Application: If your EOI is successful, complete and submit the full application form along with any additional required documentation.
Participate in the Review Process: Be prepared to engage with the review team. This may include interviews, presentations, or site visits.
Await Approval: Once the review process is complete, await notification of approval. This will include details on funding and next steps.
Sign Agreement: Upon approval, review and sign the funding agreement, outlining the terms and conditions of the grant.
Begin Project Implementation: Start the pre-construction studies and other project activities as outlined in your proposal.
Report Progress: Regularly update the program administrators on your project's progress, including any milestones achieved and challenges faced.
Submit Final Outcomes Report: At the end of the project, submit a comprehensive report detailing the outcomes, achievements, and lessons learned.