Webinar: Innovations in Tech and Growth of Climate Finance Creating Opportunities for Businesses, Students and Graduates

Date and Time: February 2, 2023 at 2 pm EST
Link to Register for this Webinar: Register

Event OrganizersIntegrated ClimateTech (iClimateTech) in partnership with the Clean Energy Zone and Science Discovery Zone at the Toronto Metropolitan University as well as Climate Solutions Advancement Network (ClimateSAN).  iClimateTech is a member of Clean Energy Zone.

One Sentence Summary + Event Poster:

This webinar will highlight a range of innovative complementary technologies, some example technology integrations to maximize climate impact in a profitable way, and a range of funding options to finance projects utilizing these technologies.  

1. Technologies Creating Opportunities

Opportunities have emerged for businesses, students and graduates due to advances in several complementary technologies and increased availability of climate finance.  For example, there have been advancements in power generation with carbon capture, biochar production, conversion of CO2 to renewable fuel, direct air capture, energy storage and renewable energy, which are now making it possible to create facilities that generate reliable energy with negative carbon emissions.  As a result of these innovations, an existing biomass-fueled power plant can be enhanced to include carbon capture, biochar production, conversion of CO2 to renewable fuel, energy storage and renewable energy.  To view a simplified schematic of this example, see the below image:

The system shown above is only one configuration that includes a biomass-fueled power plant to produce reliable power and renewable fuel.  The exact configuration will depend on the local regulatory framework and prices of products sold through long-term off-take agreements.  These types of facilities are eligible for considerable incentive funding from government programs and can be re-financed with Green Bonds after they are operational and generating income.  

There are many more ways complementary technologies can be integrated to lower costs and maximize impact.  To view information about more technology combinations that produce reliable carbon-negative energy, visit: Integrating Technologies to Produce Reliable Carbon-Negative Energy.  As well, there are technology combinations that produce food products and reliable electricity.  To view information about some examples of these combinations, visit Integrating Technologies to Produce Agricultural Products and Reliable Electricity.

Given below is a list of example complementary technologies that can be integrated with fossil or biomass fueled power-plants that are fitted with carbon capture systems:

a) Renewable Energy Systems – Companies can take advantage of solar and wind to be integrated with multiple complementary technologies to enhance their facilities and lower their carbon footprint
b) Energy Storage Systems – Energy Storage helps to manage short term differences between power generated and power needed.
c) Biochar Production Equipment – Biochar is a charcoal-like substance that’s made by burning organic material from agricultural and forestry wastes (also called biomass) in a controlled process called pyrolysis.
d) Low Carbon Fuel Production Equpment – Low Carbon Fuels are a traditional fuel alternative, with lower carbon intensities and emissions than traditional petroleum-based fuels.
e) Direct Air Capture Systems – Direct Air Capture (DAC) is a process that involves capturing and sequestering CO2 from the atmosphere on a global scale.
f) Indoor Farms – Indoor farming includes greenhouses, vertical farms and other automated indoor crop systems and can grow carbon-neutral crops.
g) Algae Growing and Processing Systems – There are different strains of algae that can be grown for produce a wide range of products including high-quality medicines, food supplements, biofuel, animal food and bio-degradable materials.
h) Sustainable Fish Farms – There is a wide range of fish farms being implemented.  One effective combination is to integrate a fish farm with algae and hydroponic plant production system.  To view a schematic of this combination, visit: Biomass power plant combined with indoor, fish and algae farms.

2. Brief Introduction to Funding Options

There is a large and growing amount funding available to implement innovative technologies and/or combinations of technologies.  To view some information about of these funding actions:

a) Federal Gov’t Clean Growth Hub webpage summarizing federal programs for clean growth: Clean Growth Hub 
c) Large program for indigenous community: Indigenous-led Clean Fuels Projects
d) Private foundation funding: Ivey Foundation to distribute $100 million endowment over next five years Nov. 29, 2022.
c) Green Bonds can fund substantial renewable energy and Carbon Tech-related projects.  For example, according to the ClimateBonds Initiative, over $500 billion in Green (Climate) Bonds were issued in 2021.  This organization is now leading an initiative to increase this amount to $5 trillion in Green Bonds by 2025.

3. Accelerating Carbon-related Technology (Carbon Tech) Implementation in Canada

As a result of many complementary government and private sector initiatives underway in the carbon-related technology (Carbon Tech) area in Canada, especially in Alberta, an ecosystem relating to this area has emerged. Components of this ecosystem include research centres, business accelerators, technology demonstration centres, companies developing Carbon Tech, buyers, investors and funding agencies. At the same time, rapid and simultaneous advances in technologies in several complementary areas have occurred, which is enabling many innovative combinations to be integrated with each other to lower costs and maximize impact. The combination of these developments can be harnessed to help accelerate Canada’s transition to net zero carbon dioxide emissions (NetZero). To view an illustration of how this ecosystem can integrate complementary technologies and leverage climate finance to accelerate this transition, click on this link below:

How Canada’s CarbonTech Ecosystem Can Help Accelerate Canada’s Transition to NetZero
Leveraging Canada’s CarbonTech Ecosystem, Climate Finance and Integrating Technologies to Accelerate Action

4.  Articles about Combining Complementary Technologies to Create Carbon-Negative Energy

Recently, some articles we prepared about combining complementary technologies to produce reliable energy with negative carbon emissions were published in industry magazines.  To view them, visit:

a) Biomass Magazine article: How Companies Can Profitably Create Carbon-Negative Energy from Biomass, April 13, 2022.
b) OilPrice.com article: How Oil & Gas Companies Can Profitably Create Carbon-Negative Energy, January 5, 2022.