Accelerating the Energy Transition: Where SR&ED Fits In

Source: Aryn Guthrie |· COPOINT · | June 3, 2022

The Scientific Research and Experimental Development Tax Incentive Program (SR&ED) is the largest source of federal government support dedicated to encouraging innovation in Canada. The program is available to businesses of all sizes and in all sectors that conduct research and development (R&D).

Research and development powers innovation. To stay competitive and meet Canada’s commitment to net-zero emissions, the energy industry needs to work together to mobilize at a pace never seen before and invest in the technologies that are paving a path forward. As the energy industry transitions, scientific knowledge and technology has become top of mind to aid this shift. Copoint has identified opportunities within these energy sectors that are prime candidates to take advantage of the SR&ED program:

Oil & Gas Innovation

The Oil and Gas (O&G) industry has made tremendous strides to commit to a low-carbon future. Throughout the years, Copoint has worked with clients whose innovations have helped establish Canada as a leading O&G producer while also reducing GHG emissions. We have seen first-hand how important the SR&ED program can be to the O&G industry to innovate and help companies grow faster, all while ensuring the long-term viability of global energy resources.