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May 31, 2022

Sector Profile: Accelerators

The commercialization and widespread adoption of cleantech innovations to address key environmental challenges in the oil and gas industry is the last stage of a complex process that entails taking an original idea or a promising pilot project and growing it in multiple layers until it can be successfully brought to market.

By utilizing a variety of resources and tools, cleantech accelerators are capable of effectively supporting this complex journey that startup ventures must go through as they bring innovative solutions to market.

Accelerators are one of the 19 Sectors that make up CRIN’s innovation ecosystem. As part of its mandate, CRIN brings sectors together to establish paths for collaboration between innovators and key ecosystem stakeholders, including accelerators, investors, government and industry. These relationships and resources such as funding, talent, labs and facilities serve to accelerate innovation that responds to industry priorities.

Foresight Canada: Accelerating Canada’s Net Zero and Green Economy Transition through Scaling Innovation and Technology Adoption

Being the largest cleantech accelerator in Canada, Foresight Canada takes a whole-ecosystem approach to enabling net zero goals and environmentally beneficial solutions within the oil and gas sector. Through its world-class accelerator programming, Foresight implements innovation challenges that are based on the industry’s needs. In the process, Foresight establishes partnerships with academia, government and investors, ensuring there is support during the stages of sourcing, evaluating and testing cleantech solutions. Foresight is the only Canadian cleantech accelerator that trains technology leaders in parallel with CEOs and business development teams, increasing the potential for commercialization and scaling.

Recently, Foresight alongside the Delphi Group supported CRIN by running Low Emission Fuels and Products Technology Competition, which resulted in four projects identified to receive CRIN funding of over $30 million CAD. These technologies, capable of reducing the carbon intensity of the products and processes from Canada’s oil and gas industry, are anticipated to result in a combined cumulative emissions reduction of 55 megatonnes (MT) of CO2 equivalent (CO2e) by 2033.

According to Jeanette Jackson, CEO of Foresight Canada, “our model for accelerating cleantech innovation includes engaging with stakeholders in academia to advance new research and ideas, validating existing technologies and supporting the commercialization of solutions. We also work with all levels of government to accelerate permitting and help fund pilots. Foresight actively creates networking opportunities between cleantech ventures and private capital investors to fund the scaling of solutions for oil and gas.”

Foresight is proud to have a strong relationship with CRIN. Jackson mentions that “through our partnership, we achieve increased engagement with industry that feeds future challenges and fills gaps in our national and international innovation network. We gain important knowledge and data that help us further develop our programs and initiatives to accelerate Canada’s net zero transition.”

carbonNEXT: Accelerating carbontech solutions and Canadian competitiveness

carbonNEXT is a collaborative and problem-driven innovation ecosystem established by leading accelerator Foresight and technology validation testbed facility provider Carbon Management Canada to accelerate the scale-up and adoption of Canada’s carbontech solutions and to position Canada as a global leader in carbon capture, utilization and storage (CCUS).

While Canada’s first generation of CCUS startups is belatedly gaining global attention and support after a decade of hard work, the next generation of Canadian CCUS tech developers requires sector-specific support to more speedily identify markets, derisk technologies, enable pilots, secure capital, and scale.

Jason Switzer, Director of carbonNEXT and Vice Chair of CRIN, says the carbonNext partnership with CRIN has been helpful for CCUS startups. Through three webinars hosted by CRIN and carbonNEXT, CCUS companies pitched their technologies and leaders from producer companies participated in panels discussing successful relationships with cleantech developers. The goal for carbonNext is to grow the CCUS further, says Switzer. “We seek to knit together Canada’s world-leading CCUS infrastructure, and the unparalleled expertise that has been developed here with the leadership of Canadian governments, producers and service companies”.

Upcoming Events in the Accelerators/Startups Space

Don’t miss Inventure$ on June 1-3, 2022, a hybrid event (in-person and online) taking place in Calgary. Inventure$ 2022 is where startups, innovators and investors meet to make things happen. Join the startups, investors and global thought leaders that are leading innovation breakthroughs.

On June 3, 2022,  Foresight hosts Calgary, Let’s Catch up! an in-person meet-up gathering where there will be an opportunity to celebrate collaboration in the cleantech innovation ecosystem and connect with community members, technology developers and partners. This gathering will take place at &Lounge located in The Ampersand, Calgary

The Global Energy Show, on June 7-9, 2022 will gather industry buyers and sellers, stakeholders and partners, CEOs and young professionals in one place to share knowledge and fuel innovation in the ever-changing energy landscape. Hear about all energy systems, including oil sands, hydrogen, CCUS, wind, solar, petrochemicals, gas and nuclear.

The Trade Commissioner Service’s Regional Office of Alberta and Northwest Territories is running a Matchmaking Program for Canadian Energy & Clean Technologies Companies during the Global Energy Show that is taking place in Calgary. The program includes Business-to-Business (B2B) meetings with international buyers and meetings between Canadian companies and Government of Canada Trade Commissioners (TC2B) from around the world.

Foresight is hosting the Fireside Chat: Employment Law (online event) on June 14, 2022. This event will address legal employment aspects that are specific to startup companies.

The Accelerating Cleantech Innovation in Oil & Gas Program launched by CRIN and Canada Cleantech Alliance early this year will end on June 16 with a virtual Demo Day, showcasing the eight cleantech innovators that have participated in the training program. Join us and register for this technology pitch event.

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