The provincial government announced a burst of funding for three emission reduction projects in Alberta on Wednesday.
A total of $10 million will be handed out to three different groups that are running projects aiming to improve emissions in Alberta, including using artificial intelligence capabilities.
The funding is a part of the government’s Technology Innovation and Emissions Reduction (TIER) program, which launched earlier this year.
“These programs will help industry identify, track, measure and ultimately reduce emissions,” Environment Minister Jason Nixon said. “They will also ensure we maintain our competitive edge while creating jobs and economic growth for Alberta.”
The Sundre Petroleum Operators Group will receive $3 million to test methane emissions reduction technology. With the funding, the group plans to launch its methane testing pilot program at around 500 different facilities in the Sundre area. The not-for-profit organization includes energy stakeholders from government, industry, and community groups in the central Alberta region.
The Alberta Machine Intelligence Institute, based in Edmonton, will be slated $5 million to develop artificial intelligence capabilities to help companies with emissions reductions. The Reducing Emissions through Machine Intelligence (REMI) project will see the company working with industry to help them use technology to increase emission reduction capabilities. The institute has been working on AI projects in the province for over 15 years, according to its website.
Applied methane research – Calgary
The Calgary-based Petroleum Technology Alliance of Canada (PTAC) is receiving $2 million to launch 10 new projects focused on methane leak detection, quantification and repair. The PTAC will also be contributing $1 million in non-government funds into the projects. The group is a non-profit organization that aims to work with industry to advance technology in the oil sector.
The government launched its TIER project in January 2020. The project aims to reduce emissions in large industries like oilsands operations and electricity producers, which, according to the government, account for about 65 per cent of Alberta’s total greenhouse gas emissions.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
