Alberta is leveraging its unique geological formations to bolster energy sector and economy.
The province is investing up to $12.7 million from the industry-funded TIER program into three innovative projects. initiatives aim to enhance the electricity grid, safely store carbon dioxide, and extract critical battery metals.
Cache Power Corp will receive $5 million to advance the Marguerite Lake Compressed Air Energy Storage Demonstration Project, which stores excess electricity underground as compressed air for later use.
LithiumBank Resources is set to receive $39 million to develop technology that extracts battery-quality lithium from deep brine aquifers in northern Alberta.
Additionally, Carbon Management Canada will receive $38 million to test a new monitoring system for the safe and cost-effective underground sequestration of carbon dioxide.
These projects are expected to stimulate economic growth and create jobs across the province, from the County of Newell in the south to Valleyview in the north.
By harnessing its natural resources and investing in cutting-edge technologies, Alberta continues to position itself as a global leader in energy innovation.
Keith Hopper, Trending 55
