A commitment of nearly $50 million will see an array of cleantech companies in Canada commit to developing solutions targeting the circular economy.
Powered by the Government of Alberta’s Technology Innovation and Emissions Reduction fund, Emissions Reduction Alberta is investing $49M across 18 projects to accelerate solutions.
SeeO2 Energy, for example, will get $250K to help the Calgary innovator develop a reversible solid oxide fuel cell capable of generating electricity from fuel or producing fuels from electricity, including material selection, production, manufacturing integration, and pilot testing.
And Canadian cleantech-to-watch CarboMat garnered $1M to scale up production of battery anode materials derived from asphaltenes, a byproduct of bitumen upgrading.
“This is how we drive responsible growth,” stated Justin Riemer of Emissions Reduction Alberta, by “supporting home-grown technologies, accelerating commercialization, and building stronger, more resilient industries.”
One of the larger projects being funded by ERA is from Carbonova Corporation.
The Calgary cleantech is receiving over $4M to develop a process to produce carbon nanofibres from various carbon-rich feedstocks, culminating with the design, construction, and operation of commercial units at three different scales.
“This support from ERA enables Carbonova to turn breakthrough science into real-world infrastructure,” says cofounder and chief executive officer Mina Zarabian, who was recently recognized as an Emerging Leader at the Global Energy Show Canada 2025 (while Carbonova itself accepted the Emerging Clean Technologies honour). “Alberta is proving that climate leadership and industrial innovation can go hand-in-hand.”
Built on proprietary catalytic technology, Carbonova has developed a process that converts CO₂ and methane into sustainable, high-performance carbon nanomaterials for use in batteries, plastics, and construction.
“With customers lined up and eager for better, lighter, and more sustainable materials, ERA is catalyzing the emergence of a new industry—one where carbon emissions become the feedstock for high-performance advanced materials,” remarked Zarabian.
In total, the projects are expected to generate more than 1,500 new jobs over the next few years while cutting millions of tonnes worth of emissions by 2050.