HYDROGEN POWER PROJECTS RECEIVE $57 MILLION IN FUNDING FROM ALBERTA GOVERNMENT

Source: Isabelle Kirkwood | · BETAKIT · | May 1, 2024

Alberta government wants to make the province the “hydrogen capital of Canada.”

Alberta Innovates and Emissions Reduction Alberta (ERA) are investing a combined $57 million into 28 hydrogen power projects.

Alberta Innovates is investing $22.5 million for 20 early-stage projects through its Hydrogen Centre of Excellence in partnership with Natural Resources Canada. ERA is using funding from Alberta’s Technology Innovation and Emissions Reduction program to commit $34.5 million for eight late-stage projects through its Accelerating Hydrogen Challenge.

“Hydrogen has the potential to transform global energy markets and to create trillions of dollars of economic activity.”

The funded projects include some tech-focused initiatives, and all cover one or more areas of the hydrogen economy, including hydrogen production, storage, transmission, distribution, and usage. According to a statement from Alberta Innovates, the recipients of its funding have two years to complete their work, while recipients of ERA funding have three years.

Among the funding recipients are a few Canadian tech startups. Cleantech startup Ayrton Energy is receiving $1.7 million in funding from Alberta Innovates to develop a liquid organic hydrogen carrier for hydrogen storage and transportation.

Burnaby, BC-based cleantech startup Ekona Power is receiving $1 million in funding from Alberta Innovates. Founded in 2017 by venture capital firm Evok Innovations and cleantech startup incubator Innovative Breakthrough Energy Technology, Ekona will use the funding to  pilot its methane pyrolysis reactor, which it says converts natural gas into hydrogen and solid carbon. The startup closed $79 million CAD in Series A financing in 2022.