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CRIN Funds Nineteen Additional Projects in Oil & Gas Technology Competitions

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CRIN Funds Nineteen New Projects in Oil & Gas Technology Competitions

Clean Resource Innovation Network (CRIN) proudly announces the funding of nineteen additional high-impact projects, totaling $16.1 million CAD. These projects, selected through CRIN's Oil and Gas Technology Competitions, aim to address environmental and economic challenges in the industry.

Driving Tangible Contributions

Upon successful commercialization, these initiatives have the potential to make significant contributions to society. This includes emissions reductions, decreased water and land use intensity, and job creation. CRIN is currently finalizing the funding agreements for this portfolio of projects.

Advancing Energy Innovation

Glen McCrimmon, CRIN's Director of Operations, expresses excitement about funding these impactful projects. He highlights how they align with CRIN's vision of making Canada a global leader in clean hydrocarbons while demonstrating the compatibility of oil and gas energy development with environmental stewardship.
Government Support and Climate Goals
Francois-Philippe Champagne, Minister of Innovation, Science, and Industry, acknowledges the critical support provided by CRIN's funding. He emphasizes that these projects will help reduce the carbon footprint of the oil and gas industry, contributing to Canada's climate goals. The funded projects cover a diverse range of innovations within the energy sector. Some notable initiatives include 3P Technology's Stationary Seismic Monitoring, Acceleware Ltd.'s Electromagnetic Heating Technology for Heavy Oil and Bitumen, and Arolytics Inc.'s Integrated Emissions Management Platform. These funding amounts represent the maximum support available from CRIN for each project. The funding is made possible through the Government of Canada's Strategic Innovation Fund. CRIN's overarching objectives align with seven themes, including Cleaner Fuels, Digital Oil and Gas, Carbon Capture, and Value-added Products. CRIN, as a pan-Canadian network, connects various stakeholders to accelerate the commercialization and adoption of clean technology in the oil and gas industry. Supported by the Government of Canada's Strategic Innovation Fund, CRIN aims to ensure the sustainable development of Canada's hydrocarbon resources while creating environmental, economic, and public benefits. For media inquiries and more information, please contact: Sally Dawoud Technology Enablement Advisor dawoud@cleanresourceinnovation.com Glen McCrimmon Director of Operations gmccrimmon@cleanresourceinnovation.com

Implications of CRIN's Funding for New Businesses

The recent announcement by the Clean Resource Innovation Network (CRIN) to fund nineteen additional projects in the Oil & Gas Technology Competitions can have significant implications for new businesses in the energy sector.

Opportunities for Innovation

With a total funding of $16.1 million CAD, CRIN is not only addressing environmental and economic challenges in the industry but also fostering a culture of innovation. For new businesses, this presents an opportunity to develop novel solutions and technologies that could potentially revolutionize the industry.

Focus on Sustainability

CRIN's emphasis on reducing emissions, decreasing water and land use intensity, and creating jobs highlights the growing importance of sustainability in the oil and gas industry. New businesses must align their strategies and operations with these goals to stay competitive and relevant.
Government Support and Climate Goals
The acknowledgment by Francois-Philippe Champagne, Minister of Innovation, Science, and Industry, of CRIN's critical support underscores the government's commitment to achieving climate goals. This sends a clear message to new businesses that adopting environmentally friendly practices is not just beneficial but necessary for their survival and growth. In conclusion, CRIN's funding initiative can serve as a catalyst for new businesses, encouraging them to innovate and contribute to a sustainable future in the oil and gas industry.
Story First Published at: https://financialpost.com/globe-newswire/crin-funds-an-additional-nineteen-projects-through-the-oil-gas-technology-competitions
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