The province is exploring the possibility of the development of carbon capture, utilization and storage (CCUS) in Newfoundland and Labrador.

Today, Premier Andrew Furey announced a CCUS Innovation Challenge, where they are inviting qualifying business, organizations and researchers to send in proposals.

 Up to $6 million in Provincial Government funding has been allocated for two streams of work:

• Up to $3 million to support research and development to advance the development of CCUS to decarbonize ongoing oil production in the province’s offshore; and

• Up to $3 million to support studies of the potential and feasibility of the province’s offshore to serve as a regional CCUS hub for the storage of locally and externally-produced carbon dioxide.

The funding can support up to 50 per cent of eligible project costs. Proposals must be submitted jointly by industry and academic partners to promote cooperation between these sectors.

Lead applicants must be post-secondary institutions in Newfoundland and Labrador with CCUS research experience, and registered incorporated businesses with at least two years of offshore operations in the province.