The Government of Saskatchewan has announced $25 Million to accelerate investment in emissions reduction technology.

The incentive is being delivered through the new Saskatchewan Technology Fund, which will make approximately $25 million available to fund industry-driven projects that reduce, sequester or capture emissions.

The fund is a 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.

The government explains in a news release that 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.

The Technology Fund will be administered by Innovation Saskatchewan. In the first intake this past September they received 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.