To help reach an international audience of technical solution providers, the CCEMC is drawing on the expertise of NineSigma, an open innovation company that has one of the largest networks of technical solution providers in the world. With offices and partners on six continents, NineSigma has been managing open innovation processes and Grand Challenges for the last 13 years.
While submissions are being invited from around the world, all technologies must be applicable to Alberta. All technical solution providers will maintain their intellectual property.
Ultimate success in this challenge will result in technologies that can provide or exceed a net reduction in greenhouse gas emissions of 1 megatonne.
The CCEMC Grand Challenge: Innovative Carbon Uses offers three rounds of funding that total $35 million over a five-year period. The first round, with submissions due by July 15, 2013, offers grants of $500,000 for up to 20 projects. The winners will be announced in March 2014.
The second round of the competition is again open to submissions from around the world and will provide $3 million each for up to five projects that have successfully advanced their technologies.
The final round will identify a winner of the Grand Challenge, selected from the second round finalists, who will be provided a $10 million grant to assist in establishing and commercializing their technology.
The CCEMC will help connect winners of each round of funding with an ecosystem of support that includes mentors, business developers, venture capitalists and potential partners. The CCEMC Grand Challenge: Innovative Carbon Uses, draws on a broad network of supporters that includes Alberta Environment and Sustainable Resource Development, Alberta Energy, Chrysalix Energy Venture Capital, Carbon Management Canada, Canadian Oil Sands Innovation Alliance, Sustainable Development Technology Canada, June Warren Nichols and members of the Alberta Innovates organization including Alberta Innovates -- Energy and Environment Solutions, Alberta Innovates - Bio Solutions and Alberta Innovates - Technology Futures.
The CCEMC is a not-for-profit corporation that operates independently of government. Funding for the CCEMC is collected from industry. Since 2007, Alberta companies that annually produce more than 100,000 tonnes of greenhouse gas emissions over a baseline are legally required to reduce their greenhouse gas intensity by 12 per cent. Companies have three options to meet their reduction target: improve the efficiency of their operations, buy carbon credits in the Alberta-based offset system or pay $15 into the Climate Change and Emissions Management Fund for every tonne over the reduction limit. The CCEMC invests the money collected into the discovery, development and deployment of clean technology. More detail on CCEMC is available at www.ccemc.ca.
To view the photos associate with this press release, please visit the following links:
Climate Change and Emissions Management (CCEMC) Corporation
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