Sustainable Development Technology Canada Approves $57M for Clean Technology Projects, CO2 Storage
August 18, 2008 // Published as a news service by IHS
Canada's position as a leading developer of clean technologies was bolstered by its recent funding of 19 clean technology projects, after $57 million was approved for new investments.
Sustainable Development Technology Canada (SDTC) approved funding for the development and demonstration of projects that benefit both the environment and the economy, including topics ranging from power generation to clean air and water.
"Clean technologies supported by Sustainable Development Technology Canada [SDTC] are adding value to the Canadian economy and making significant environmental progress," said Gary Lunn, Canada's minister of natural resources.
"Our government is committed to fostering a healthy, cleaner and more prosperous Canada."
According to SDTC chairman Juergen Puetter, the continued high number of applicants and the addition of 19 projects to the portfolio show that SDTC is succeeding in its mission to support the development of clean technologies in Canada. "The projects we support will contribute to securing Canada's position as a leader in the development of clean technologies, while delivering economic, environmental and health benefits to Canadians," he said.
One of the clean technologies to benefit from the funding is a project that will demonstrate the feasibility of storing carbon dioxide (CO2) in deep saline aquifers. The water contained in deep saline aquifers is unsuitable for drinking or agriculture, which means the geological formations can provide huge storage potential for large, stationary, industrial CO2 emitters around the world.
Another project being funded will demonstrate the safety of processing waste creosote railway ties, while cogenerating electricity and process heat. This approach is an environmentally beneficial alternative to stockpiling railway ties along tracks, sending them for incineration or landfilling them, all pollution-generating and costly methods of disposal.
"We are excited to add this new group of companies to our portfolio," said Vicky J. Sharpe, president and CEO of SDTC. "By providing them with both financial support and our extensive knowledge and experience, we will work with them to make sure they have all the necessary tools to successfully bring their technologies to the marketplace once their projects are completed."
SDTC will launch the next call for statements of interest (SOI) for the Sustainable Development (SD) Tech Fund on Sept. 3, 2008, which will include a request for projects with technologies that address climate change, clean air, clean water and clean soil issues. Solutions that address more than one focus area are of greatest interest.
Source: Sustainable Development Technology Canada (SDTC).