FREDERICTON, NEW BRUNSWICK -- (Marketwired) -- 08/29/13 -- The Government of Canada announced today an investment in Atlantic Hydrogen to develop a new process to efficiently and economically turn carbon dioxide and natural gas into a new generation of green fuels. This technology has the potential to produce precursors to liquid fuels, such as diesel and jet fuels, with near zero carbon footprint.
"Our Government's Economic Action Plan 2013 focuses on the drivers of growth-innovation, investment, skills and communities," said the Honourable Greg Rickford, Minister of State (Science and Technology, and Federal Economic Development Initiative for Northern Ontario). "Our long-term economic prosperity depends on supporting businesses that innovate, and we will be there to help them acquire the tools they need to prosper. A strong and vibrant economy improves the quality of life for all Canadians, and today's project in Fredericton is a concrete example of what we can do to better our collective environment."
Atlantic Hydrogen will receive up to $499,800 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) to develop the gas-to-liquid technology. This process will build on the company's proprietary CarbonSaver technology and convert carbon dioxide and methane, produced by landfills and agricultural gas for example, into precursors to liquid fuels.
"Financial and advisory services from NRC-IRAP over the past years have been an important part of our research and development activities," said David L. Wagner, President and Chief Executive Officer of Atlantic Hydrogen. "This funding helped us advance our CarbonSaver technology towards commercialisation. The current project will get us closer to our goal of using CarbonSaver technology as a step in the process to generate liquid fuels. Our success will benefit all by turning carbon dioxide, a greenhouse gas, into part of the feedstock for an energy source."
Economic Action Plan 2013 provides to leverage research and development and business innovation, leading to job creation, growth and long-term prosperity for Canadians. Of this investment, an additional $20 million was provided over three years for a new pilot program to be delivered through NRC-IRAP. The program will enable hundreds of small and medium-sized enterprises to commercialize their products or services more quickly and effectively by providing them with credit notes to help pay for research, technology and business development services at universities, colleges and other research institutions.
Media Relations Team
National Research Council of Canada
Mary Ann Dewey-Plante
Director of Communications
Office of the Honourable Greg Rickford
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 31, 2014
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