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.

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Two-thirds of the cumulative emissions reductions from CCUS … come from technologies that are currently at the prototype or demonstration stage. Given the time lags involved, innovation needs to be stepped-up now to ensure key applications are commercially available in the coming decade.

As we explored the carbon removal space, built out a network, and engaged the top researchers and academics, one thing became crystal clear: …there are simply not enough commercially ready solutions.

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

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carbonNEXT has been incredibly helpful to us at Planetary through both their well-developed and impactful podcast series, and their ability to offer introductions to key people.

carbonNEXT

The Carbontech Challenge

Canada’s Carbontech Innovation Ecosystem

Accelerating Innovation

Mike Kelland, CEO, Planetary Technologies

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