Subject: FINANCING AGREEMENTS
CRIN Funds an Additional Nineteen Projects through the Oil & Gas Technology Competitions
CALGARY, Alberta, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Clean Resource Innovation Network (CRIN)
The Clean Resource Innovation Network (CRIN) is proud to announce the funding of nineteen (19) additional high-impact projects, totaling $16.1 million CAD in support. With this new commitment, CRIN continues to validate its role as a springboard for advancing Canadian energy innovation and competitiveness, while simultaneously improving the environmental performance of Canada's oil and gas industry.
These projects have been selected to receive support through an optimization of funding dedicated to the high quality applicant pool from within CRIN's Oil and Gas Technology Competitions, which aim to address pressing environmental and economic challenges. Upon successful commercialization, these initiatives are poised to make tangible and substantial contributions to society, including emissions reductions, decreased water and land use intensity, and job creation. CRIN has entered the contracting phase, a rigorous process to finalize the funding agreement, for this portfolio of projects.
"CRIN is excited to provide funding for these impactful projects," said Glen McCrimmon, CRIN's Director of Operations. "These projects align well with CRIN's vision where Canada is the global leader in clean hydrocarbons from source to end use and exemplify how oil and gas energy development and environmental stewardship can go hand-in-hand. We look forward to seeing these initiatives progress in the coming months."
"The funding announced today will offer critical support to Canadian innovators and contribute to the commercialization of ground-breaking technologies that will help our oil and gas industry's environmental performance." said Francois-Philippe Champagne, Minister of Innovation, Science and Industry. "Congratulations to all recipients of the CRIN program support; your projects will help our innovative industries reduce their carbon footprint and play a key role in helping Canada reach its climate goals."
The following projects have been identified for funding, highlighting the diverse range of innovations and their potential to drive progress within the energy sector:
| Lead Applicant | Project Title | Funding from CRIN | |
| 3P Technology Corp. | 3P Technology's Stationary Seismic Monitoring | $100,000 | |
| Acceleware Ltd. | Electromagnetic Heating Technology (using radio waves) to Heat and Mobilize Heavy Oil and Bitumen | $3,000,000 | |
| AIRMarket Inc. | Energy UTM Trials Extension | $1,700,000 | |
| Arolytics Inc. | Development and Demonstration of an Integrated Emissions Management Platform | $400,000 | |
| Calscan Energy Ltd. | Tank Methane Emissions Mitigation with Calscan Hydrocyclone | $45,000 | |
| Cnergreen Corp. | Testing Nanoparficle-Based Foam Technology to Improve the Efficiency of CO2 Enhanced Oil Recovery and CO2 Storage | $900,000 | |
| COPSYS Technologies Inc. | Intelligent Digital Skin Tech Qualification & Pilot | $800,000 | |
| Enaimco Management Ltd. | Terra Nova Pilot Project | $550,000 | |
| G4 Insights Inc. | G4 PCH Reactor Scale Up Validation | $300,000 | |
| General Energy Recovery Inc. | Co-Injecting Steam & Combustion Gases | $1,574,000 | |
| GRU Organics | CSV Midstream Waste Heat Vertical Farm | $248,000 | |
| Hydron Energy Inc. | Waste to Fuel: Accelerating Commercialization of the Lowest Cost & Smallest Scale Novel Biogas-to-RNG Upgrading System | $602,000 | |
| Ionada Incorporated | Modular Membrane Decarbonization | $2,000,000 | |
| Kinitics Automation Limited | Kinitics Valve Actuator for Gas Producers | $185,000 | |
| St. Francis Xavier University | Flare Tip Combustion Efficiency Monitoring Using Drones for Methane Detection | $225,000 | |
| Standing Wave Reformers Inc. | A New Wave In Hydrogen Production | $600,000 | |
| Tourmaline Oil Corp. | Easy Storage and Smart Engine Management System | $1,000,000 | |
| University of British Columbia | Deployment of Low-Cost, Low Emission Hydrogen Plant from Natural Gas Pyrolysis | $1,250,000 | |
| University of Regina | Development Of an Integrated Mobile System (MMS) for Methane Utilization and Produced-Water Treatment | $596,000 | |
These funding amounts represent the maximum support available from CRIN for each project.
The funding for these innovative initiatives is made possible through the Government of Canada's Strategic Innovation Fund.
These projects align with CRIN's overarching objectives, targeting issues across CRIN's seven themes:
- Cleaner Fuels ? Reducing Carbon Intensity
- Digital Oil and Gas
- Carbon Capture and Value-added Products
- Novel Hydrocarbon Extraction
- Novel Land and Wellsite Remediation
- Methane Monitoring, Quantification and Abatement
- Water Development Technology
For further details on CRIN's themes and profiles of the funded projects, please visit our website at cleanresourceinnovation.com
About CRIN
The Clean Resource Innovation Network (CRIN) is a pan-Canadian network focused on ensuring Canada's hydrocarbon resources are sustainably developed and integrated into global energy systems. CRIN, as a ?network of networks,' connects a vast array of skills, knowledge and experience from oil and gas and other industries to technology developers, researchers, government, investors, academia, entrepreneurs, and youth. By identifying industry challenges, we create market pull in order to accelerate the commercialization and widespread adoption of clean technology, leading to significant environmental, economic, and public benefits to Canada. CRIN is supported in part by a $100-million investment from the Government of Canada's Strategic Innovation Fund (SIF).
About SIF
Strategic Innovation Fund (SIF)
SIF supports national innovation ecosystems, pan-Canadian network-led projects that involve a high degree of collaboration to stimulate innovation and commercialization in areas of Canadian advantage and enhance linkages between businesses and academia/research bodies.
CRIN uses the SIF investment to administer initiatives in seven technology focus areas for activities related to ecosystem growth, enhancement, and long-term sustainability. These technology focus areas have the highest potential for reducing the greenhouse gas emissions and environmental footprint of the oil and gas sector, helping advance net-zero emissions targets. At least half of this funding will go to small and medium-sized businesses, and all will contribute to helping the oil and gas industry continue to create public and economic benefits for Canada alongside environmental benefits.
For media inquiries and more information, please contact:
Sally Dawoud
Technology Enablement Advisor
[email protected]
Glen McCrimmon
Director of Operations
[email protected]
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