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Alberta Puts $37M Into Drilling Tech Across Oil, Geothermal, Minerals
Alberta is spending $37M through ERA to back 10 drilling-tech projects in oil, gas, geothermal, and critical minerals across Canada, the U.S., and Europe.
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Alberta is spending $37 million to push drilling technology beyond oil and gas into geothermal and critical minerals, the province said Tuesday.
The money flows through Emissions Reduction Alberta (ERA), a provincial agency. It will back 10 projects spread across Canada, the United States, Switzerland, Norway, and the Netherlands. The total value of the selected projects is nearly $179 million, including private co-investment.
Grant Hunter, Alberta’s Minister of Environment and Protected Areas, said in a statement that the province's innovators are “advancing world-leading drilling technologies that will create jobs, strengthen competitiveness, reduce emissions and unlock new opportunities in geothermal energy, critical minerals, and carbon capture.”