The Carbontech Challenge

With the earth warming every year and extreme weather events becoming more frequent, the time for strong climate action is now. CCUS will play a critical role in achieving the net-zero future, enabling industrial decarbonization, and removing CO2 from the atmosphere and oceans. According to the International Energy Agency (IEA), the CCUS sector needs to grow approximately 200 times from the 2022 level by 2050, more than the weight of all petroleum produced today, according to McKinsey, a ‘monumental endeavor’.

Despite the technology’s promise, CCUS deployment has been too slow. Net-zero success requires more commercial carbontech solutions deployed quicker across a range of industrial sectors and applications.  

Canada’s Carbontech Innovation Ecosystem

Canada has built a strong foundation in CCUS, positioning it for rapid growth in the future. According to the IEA, Canada is a global CCUS leader, with 5 of 27 industrial scale facilities. The country holds 14% of all CCUS patents, has 4 XPRIZE winners, and is home to several of the most-prominent emerging technologies.

Over 10 mega-scale CCUS projects are proposed or under development domestically, with a combined capital budget of over $25 billion to 2030. Canada is poised to take an outsized share of the estimated USD $1 trillion carbontech market by 2050.

carbontech-ecosystem-graphic-1

Accelerating Innovation

As Canada’s carbontech commercialization hub, carbonNEXT leverages the country’s largest cleantech venture pipeline through Foresight Canada, and leading CCUS technology development, validation and deployment expertise and facilities through Carbon Management Canada. carbonNEXT is positioning Canada as a leader in CCUS through: 

  • Sector-specific Acceleration including programs and seasoned Executive advisors to help ventures access capital, meet customer needs and scale 
  • Industry-driven Innovation Challenges to focus innovators on the needs of industry and accelerate adoption
  • One-Window Concierge Access to the national network of CCUS lab facilities and equipment to progress and validate innovations
  • Global market & capital connection events to engage with international carbontech customers, investors, and networks 
  • Financing and grant writing support 
  • Thought leadership to remove barriers and amplify Canada’s profile globally 

Companies Supported

Title Sponsor

Supporting Partners