Alberta is launching the Alberta Drilling Accelerator, a cutting-edge initiative designed to attract companies focused on geothermal energy, critical minerals, helium, and carbon capture. The hub will offer an open-access site for testing advanced drilling technologies, supporting innovation at extreme depths, high temperatures, and across diverse rock types.
The province has allocated $50 million from its carbon tax revenue to fund the project, which will become Canada’s first industry-led, technology-agnostic drilling hub. Major energy sector companies, including Tourmaline Oil, Halliburton, and Eavor Technologies, have already shown interest in participating.
The accelerator aims to address high drilling costs, which account for up to 90% of geothermal project expenses, by fostering the development of new technologies. This could make geothermal energy more accessible and affordable while attracting global investment to Alberta. The initiative also supports the province’s long-term goal of leveraging its expertise to develop and manufacture drilling technology for international markets.
The location for the hub is expected to be announced in early 2025, following a feasibility study conducted by Eavor Technologies and industry partners. Operations are slated to begin in 2026, with the project managed as a non-profit by a newly formed industry association.
The Alberta Drilling Accelerator represents a significant step in repurposing the province’s traditional oil and gas expertise to support clean energy transitions, strengthen its economy, and contribute to achieving net-zero emissions by 2050.