Exclusive-Canada oil sands carbon capture project struggles to get key contract
OTTAWA - Canada is struggling to get a key tool in place for major carbon capture and storage projects, said a representative of one of the largest such ventures, as the country seeks to launch incentives vital to cutting emissions from Alberta's oil sands.
Pathways is still in talks with the government to set up such a contract, though probably not through the C$15 billion Canada Growth Fund - a body set up last year by the Finance Ministry to help attract private investment in clean tech by mitigating financing risks - the representative said. However, Canada is lagging behind the U.S., which has offered massive incentives to clean tech companies under the U.S. Inflation Reduction Act for more than a year now.
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