15 YEARS OF INVESTING
IN CLEAN TECHNOLOGY
2023-2024
ANNUAL REPORT
June 1, 2023 — May 31, 2024
In the spirit of reconciliation, we have the privilege of living, working, and investing on traditional territories, which include Treaty 6, Treaty 7, and Treaty 8 Nations; Metis Nations (Region 3 and 4); Inuit; and all others who have lived on and cared for these lands.
OUR VISION is for Alberta to have a diversified, net-zero economy with competitive industries that deliver sustainable environmental outcomes and attract investment.
Message from the Board Chair and CEO
“ERA continues to demonstrate there is an ongoing opportunity to support Alberta’s natural resources and industrial sectors through the development and commercialization of some of the most promising innovations the province needs to reduce emissions and increase our global competitiveness.”
Kelly J. Ogle, Board Chair, ERA
“An annual report isn’t just about reviewing the recent past, it’s also about celebrating our history and looking forward to future opportunities. Reflecting on our accomplishments over the past 12 months has inspired us to think about where we’ve come from and to aim for an even bigger impact moving forward.”
Justin Riemer, CEO, Emissions Reduction Alberta
15 YEARS OF IMPACT
Over the past 15 years, Emissions Reduction Alberta has been the way Alberta invests the revenues from the carbon price paid by large emitting industrial facilities directly back into clean technology solutions that reduce emissions, attract investment, and create jobs.
Beginning with Alberta’s 2008 Climate Change Strategy and the Specified Gas Emitters Regulation (SGER) and transitioning through to the Government of Alberta’s current Technology Innovation and Emissions Reduction (TIER) regulation, ERA has been one of the mechanisms for investing the revenues from the carbon price paid by large final emitters directly into clean technology solutions.
In 2023/2024, we made things happen
*Estimated from 2023-24 investments.
DESIGNED THE $50M STRATEGIC ENERGY MANAGEMENT FOR INDUSTRY PROGRAM
HERE’S HOW…
Investing in innovative technologies
Over $44 Million to Help Small- and Medium-Sized Enterprises
Small- and medium-sized enterprises (SMEs), organizations with fewer than 500 employees, are the backbone of Alberta’s economy and represent the largest portion of companies in the province. Through the Emerging Innovators Challenge, ERA invested in the scale-up, pilot, demonstration, and first-of-its-kind projects led by these critical organizations. To address barriers typically faced by SMEs, ERA is working with innovation-focused service providers to help these companies achieve higher commercialization success rates.
“We are giving Alberta’s small and medium businesses the funding they need to launch their innovation-driven technologies faster and grow their startups to create jobs, save money and lower emissions here at home and around the world.”
Rebecca Schulz, Alberta’s Minister of Environment and Protected Areas
Alberta Announces Almost $60 Million to Accelerate Hydrogen Technologies in Alberta
ERA committed $34.5 million for eight projects worth approximately $162 million to advance a hydrogen economy, reduce emissions, and create jobs in Alberta. Projects cover the spectrum of hydrogen production, storage, transmission, distribution and usage. An additional $22.5 million was invested by Alberta Innovates for 20 early-stage projects worth approximately $118.8 million.
“Hydrogen demand is growing around the world. The challenge we have is how can we maximize its use for the environment and energy security. The individuals and companies here are truly enabling Alberta’s position as a world leader in this space. Every advance has the potential to change the world for the better, and I wish you all the best in your ventures.”
Danielle Smith, Premier Of Alberta
Over $33 Million Through to 13 Projects Worth $88 Million that will Reshape how Energy is Transported, Managed, and Used
Funding will advance technologies for energy transport, distribution, storage, and optimization, reducing emissions, creating economic opportunities, and enhancing energy resilience and efficiency.
“Alberta’s TIER carbon pricing system is a powerful tool for converting our historical emissions levies into future emissions reductions, modern jobs, and economic activity.”
Sean Collins, CEO, Varme Energy
Nearly $23 Million for Advanced Carbon Fibre, Storage, and Energy Efficiency Technologies Announced at COP28 in Dubai
This funding aims to develop technologies at eight emissions-reducing projects including producing carbon fibre from bitumen, battery storage at a hydroelectric dam, waste heat utilization for decarbonizing food processing, emissions-reducing oil extraction, and more.
“ERA is pleased to support homegrown technologies that will lead to future materials, energy systems, and markets with funding from the Government of Alberta, and in collaboration with our partners in the innovation ecosystem.”
Justin Riemer, CEO, Emissions Reduction Alberta
Up To $50 Million Industrial Transformation Challenge To Spearhead Emissions Reduction Across Alberta’s Industrial Landscape
The annual Industrial Transformation Challenge advances clean technology to cut emissions and enhance the competitiveness of Alberta’s industrial and resource sectors.
“We are helping develop, test and commercialize the technologies that companies need to stay competitive and attract talent while they drive innovation. The last industrial funding challenge led to more than a dozen ground-breaking projects.”
Rebecca Schulz, Minister, Environment and Protected Areas, Government of Alberta
Investing $3 Million In International Clean Technology Funding Opportunity
Over 45 national and regional funding organizations are participating in Joint Call 2024, the third annual call under the CET Partnership. ERA committed up to $3 million in this transnational initiative to accelerate the energy transition through joint research, technological development, and innovation (RTDI) programming.
ERA Contributes to a $2.4 Million Decentralised Energy Initiative
In 2024, ERA announced support for Decentralised Energy Canada and the City of Medicine Hat’s Energy Innovation Challenge, a three-year program designed to invest approximately $2.4 million in small businesses to help them overcome commercialization obstacles and advance their decentralised energy solutions to the market.
Strengthening a Robust Investor Network
In 2023-24, ERA welcomed the Metis Settlements Development Corporation and strengthened ties with 13 other partners, boosting project participation in its Partnership Intake Program. Partnerships are crucial for accelerating technology. They enable like-minded organizations to pool funds, address challenges, and share risk. Through strategic collaboration, ERA leverages funding opportunities within Canada’s innovation ecosystem to reduce emissions and move Alberta towards carbon neutrality.
DRIVING COMMERCIALIZATION, KNOWLEDGE SHARING, AND MAXIMIZING IMPACT
Energy Savings for Business Program Wraps Up Due to High Demand
The Energy Savings for Business (ESB) Program was fully subscribed in 2024. Through its various funding streams, the $55 million ESB Program with $47 million in incentives provided funding to over 2,000 projects led by Alberta businesses to improve efficiency and reduce emissions
Building on Success to Reduce Emissions and Cut Costs
In 2024, ERA began detailed design and industry engagement for its $50 million Strategic Energy Management for Industry (SEMI) program to boost energy efficiency in Alberta’s industrial facilities. SEMI focuses on energy assessments, management systems, strategic management, and capital retrofits. Launched in the Fall of 2024 and running until March 2027, SEMI will accelerate technology adoption, enhance efficiency, and identify industry barriers.
Innovator Support Services Launched to Accelerate Commercialization
Launched in 2024, the Innovator Support Services program helps SMEs overcome commercialization barriers by providing ERA-funded projects with expert mentorship on funding, financial management, HR, strategy, scalability, product development, IP, regulatory compliance, and internationalization.
ERA Plans Inaugural BECCS Leadership Summit
Alberta has the potential to become a global leader in Bioenergy with Carbon Capture and Storage (BECCS). Cohosted by ERA and Alberta Innovates, the inaugural BECCS Leadership Summit takes place from October 16-18, 2024, in Banff, Alberta. The Summit will bring together over 100 leaders and decision-makers, including bioenergy and forest product producers, carbon capture and sequestration experts, prospective carbon dioxide removal credit purchasers, investors, governments, and First Nations representatives. The summit will include keynote speeches, panels, and workshops focusing on overcoming technology barriers and accelerating the adoption of BECCS technology in Alberta and Canada.
Welcoming the World at GHGT-17
In October 2024, ERA will co-host the 17th Greenhouse Gas Control Technology Conference (GHGT-17) in Calgary with IEAGHG (a division of the International Energy Agency). In 2024, ERA and the IEAGHG received a record number of abstracts submitted–over 1,100 from 52 countries–and secured sponsorship support of over $1.2 million. With over 50 per cent of registrations completed and 90 per cent of exhibition booth space committed five months before the conference, GHGT-17 is on track to break several attendance records. Conference-goers will also have the opportunity to visit some of Alberta’s most compelling industrial projects including the CPKC Hydrogen Train, the Alberta Carbon Conversion Technology Centre, Heidelberg Materials’ carbon capture project, Blindman Brewing and more. Along with the seven traditional technical streams, GHGT17 is introducing a new Business Stream curated by ERA and focused on strategy to help innovators advance their technology from idea to implementation.
WHITE PAPERS SPOTLIGHT ALBERTA’S INNOVATION ECOSYSTEM, BOLSTER INDUSTRY OBJECTIVES
In the 2023-24 period, ERA published two white papers and supported a third to share knowledge and expertise about specific aspects of Alberta’s innovation ecosystem.
Alberta’s Low-Carbon Hydrogen Production
Globally, there is growing focus on hydrogen standards based on lifecycle carbon intensity. While Alberta and Canada lack such standards, they are crucial for Alberta’s international hydrogen export ambitions. ERA and Alberta Innovates co-authored the white paper, Alberta’s Low-Carbon Hydrogen Production: How Low Can It Go?
Scaling Innovation In Alberta’s Concrete Sector
In 2023, ERA and the Cement Association of Canada (CAC) partnered on the white paper Scaling Innovation in Alberta Heavy Industry: 10 Case Studies of Innovation & Collaboration in the Concrete Sector, highlighting real-world technological advancements driving the industry’s carbon neutrality goals.
CCUS And Business Certainty
The International CCS Knowledge Centre, with support from ERA, released a new report titled CCUS and Business Certainty: Navigating policies, incentives, and credits for carbon capture and storage projects in Alberta. The report is helping companies across heavy-emitting industries understand the key federal and provincial supports that are in place or proposed for CCUS in Alberta.
Launching The Open Data Portal
In 2024, ERA launched an open data initiative to enhance transparency and simplify access to technology project investment information. This portal offers dashboards of ERA’s portfolio and allows searches by sector, technology area, innovation stage, and organization type. The dataset includes project start and end dates and expected job creation.
Refreshing The Technology Roadmap
In 2024, ERA engaged with government, industry, academia, and innovators to update the Technology Roadmap (TRM). It articulates the pathways that will enable Alberta to have a competitive economy that delivers sustainable environmental outcomes, attracts investment, and is contributing to a prosperous, lower carbon world.
Raising Alberta’s Profile At Strategic Events
At a series of strategic conferences, workshops, roundtables, ERA worked to raise Alberta’s profile as a global leader in the cleantech space through keynote speeches, panel participation, trade show booths, and more.
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