Released on December 5, 2023
The Government of Saskatchewan is proud to announce the launch of the first-ever Saskatchewan Technology Fund, which will make approximately $25 million available to fund industry-driven projects that reduce, sequester or capture emissions.
“Our government is committed to a long-term plan to transition our province’s power grid to net-zero,” Environment Minister Christine Tell said. “However, this transition cannot sacrifice the affordability and reliability of our power grid. The changes announced today support Saskatchewan’s clean electricity transition priorities while maintaining affordability and competitiveness for families, businesses and industries.”
The fund is a flexible compliance option for regulated emitters under the province's Output-Based Performance Standards (OBPS) Program and Prairie Resilience climate change strategy. It was designed in collaboration with industry partners to accelerate the adoption of innovative technologies and improve competitiveness by lowering industry emissions and costs.
"The Canadian Association of Petroleum Producers applauds today's announcement by the Government of Saskatchewan regarding the Saskatchewan Technology Fund," Canadian Association of Petroleum Producers President and CEO Lisa Baiton said. "The funding program, an important compliance option, supports market-ready technology, innovation, and improvement projects that have been proven to be effective means for the industry to reduce greenhouse gas emissions. The province's flexible approach, combined with the use of a competitive application process to provide funds for qualified technology projects, helps maintain competitiveness and prevent carbon leakage. We will continue to work collaboratively with the provincial government of Saskatchewan on additional emissions reduction opportunities."
Through a competitive, multi-stage application process, regulated emitters under the provincial OBPS Program can apply to the fund to help finance the adoption of technologies that reduce their emissions intensity.
"There are few places on earth with more potential for innovation than Saskatchewan," Tell said. "That's why we've partnered with industry to create a technology fund that can match the ambitions of our industry and grow our competitive advantage.
"We will continue to build a strong province and economy and protect what we have built together from the risk of global uncertainty and destructive federal policies that cost our provincial economy."
The Technology Fund will be administered by Innovation Saskatchewan, which announced the first intake in September 2023. In total, the fund saw 20 expressions of interest. Successful applicants will be invited to submit full project proposals that will be reviewed by a team of experts within the Government of Saskatchewan.
For information on the Saskatchewan Technology Fund, visit Output-Based Performance Standards (OBPS) Program and the Saskatchewan Technology Fund | Climate Resilience in Saskatchewan | Government of Saskatchewan.
For more information, contact:Val Nicholson