British Columbia, Canada and Shell support low-carbon innovation and shift to cleaner energy
Jul. 16, 2021
The Government of British Columbia, Government of Canada and Shell announced the commitment of matching funding towards the B.C. Centre for Innovation and Clean Energy.
The Centre will bring together innovators, industry, governments, and academics to help accelerate the commercialization and scale-up of lower-carbon energy technologies. It will also be a catalyst for new partnerships and world-leading innovation to deliver near and longer-term carbon emission reductions.
Shell’s target is to become a net-zero emissions energy business by 2050, in step with society. Becoming a net-zero emissions energy business means that we are reducing emissions from our operations, and helping our customers reduce their emissions from the fuels and other energy products we sell to them. It also means capturing and storing any remaining emissions using technology or balancing them with offsets.
Our current business plans do not bring us there and this mean that they will need to change. We are transforming our business and finding new opportunities to provide more lower-carbon energy such as biofuels, hydrogen, charging for electric vehicles and electricity generated by solar and wind power. And, as illustrated by today’s announcement, we are partnering with governments, innovators and others to address emissions, including in sectors that are difficult to decarbonize.
The Government of British Columbia and Shell have each committed $35 million (CAD) towards the Centre that will leverage additional public and private-sector investments and participation. The Government of Canada has committed up to $35 million for the centre’s innovative projects.
The Centre’s initial focus areas for funding and project delivery include:
- carbon capture, utilization and storage;
- the production, use and distribution of low-carbon hydrogen;
- biofuels and synthetic fuels (including marine and aviation fuels);
- renewable natural gas; and
- battery technology, storage and energy management systems.
To be launched later this year, the Centre will be established as a member-based, non-profit corporation operating independent of government and private entities, with the intent to attract a wide range of companies and partners that share a common focus on lower-carbon innovation and scaling-up clean energy technology.
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We produce light tight oil (LTO) from the Montney shale formation in northwestern Alberta in Gold Creek. On February 17, 2021, Shell announced the sale of our Duvernay assets to Crescent Point Energy Corp.