$35 million carbon use international competition in the global search for innovative carbon uses
The Alberta-based CCEMC uses funds collected from a levy on large GHG emitters to fund innovative projects to reduce emissions. In 2013, the not-for-profit corporation issued an international CDN $35 million Grand Challenge to find innovative uses for carbon.
The goal of the multi-year competition is to significantly reduce greenhouse gas emissions by fostering the development of technologies that create new carbon-based, value-added products and markets. Ultimate success will result in technologies that can provide a net reduction in greenhouse gas emissions of 1 megatonne annually in Alberta. Ideally, the winning technology will have application all over the world.
The CCEMC intends the Grand Challenge to be complimentary to carbon capture and storage. If captured carbon dioxide can be converted to make useful and high value products, it will create market pull that will assist in accelerating technology development.
For the first round of the competition, the CCEMC received 344 submissions from 37 countries on six continents and selected 24 projects to receive $500,000 each and access to an ecosystem of support to help them develop their ideas.
Mr. Andries will speak to the strategy behind the CCEMC Grand Challenge: Innovative Carbon Uses, the outcome of the first call for submissions and plans for the second round of the competition which will open for submissions in 2015.