GE Challenge Targets Oil Sands GHG Emissions
General Electric has launched an up to CAD$1 million ecomagination open challenge to help accelerate emissions-reducing technology development in Canadaâ€™s oil sands. The Innovation Challenge will target two of the biggest opportunities to reduce greenhouse gas emissions in the oil sands: new uses for waste heat and improved efficiency of steam generation.
The challenge is in two parts, with submissions due Sept. 30 and March 15, 2015, respectively. Winners of the challenge can potentially share up to CAD$1 million in seed funding to further develop and commercialize the proposed solutions and will be eligible to become a supplier or contractor to GE on future projects.
Canadaâ€™s oil sands are the third largest oil reserves in the world, next to Saudi Arabia and Venezuela. Oil sands production is expected to grow substantially over the next 20 years, driving increased efforts for collaboration to accelerate the development of technology that will reduce GHG emissions.
Strategic advisors for the GHG ecomagination Innovation Challenge include Canadaâ€™s Oil Sands Innovation Alliance (COSIA) and Alberta Innovates â€“ Energy and Environment Solutions (AI-EES).
The winners of the first part of the Challenge will be announced in January 2015. Entries are now being accepted at www.geghgecochallenge.com.
In 2011, GE awarded $63 million to 10 energy companies as part of a clean tech ecomagination Challenge.
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