It’s a world class facility that’s testing some of the most novel innovation from world class innovators to capture carbon dioxide and transform it into useful products, like concrete and vodka. But why are Canada’s oil sands producers involved with the Alberta Carbon Conversion Technology Centre (ACCTC) and the NRG COSIA Carbon XPRIZE in the first place?
As Wes Jickling, COSIA’s Chief Executive explains, it’s because global climate change is complex and the more bright minds that are brought together from academia, government, NGOs, and other companies and organizations to tackle different pieces of it, the sooner Canada and the world can make meaningful progress. COSIA and Canada’s oil sands producers are stepping up to do their part in this clean tech innovation space as they have been for years.
In fact, Canada’s oil and natural gas companies spend more on clean technology investments than all other industries combined. Of the $1.4 billion annual investment that Canadian companies put into clean technologies annually, 75 per cent comes from the oil and natural gas industry.
All to say that oil sands producers are supporting a range of clean tech development that will not only help solve industry-specific challenges, such as reducing water use and emissions, but, like the XPRIZE and the ACCTC, also deliver benefits to other industries in Canada and around the world.