Funding CCUS project growth and innovation

B.C. places a significant emphasis on research and development of CCUS-related technology. This includes a specific focus on evaluating the capacity for CO₂ storage in key basins across the province (more on this is explained under the Geological potential section), alongside funding projects and research initiatives aimed at advancing CCUS techniques.

How the government supports CCUS project growth and innovation

B.C. is home to many established companies and start-ups that are developing technologies that represent significant contributions to advancing CCUS.

The Province is supporting individual projects with funding offered through two active industry programs: CleanBC Industry Fund (CIF) and Innovative Clean Energy (ICE) Fund. Since 2017, B.C. has allocated over $50 million to multiple CCUS projects through these programs.

Additionally, the Ministry of Energy, Mines and Low Carbon Innovation (EMLI) has provided support for two CCUS projects through the former Clean Growth Infrastructure Royalty Program (CGIRP). This program concluded in 2022 though funded projects are still in development.

B.C. has an active CCUS-related technology and process research and development sector. This sector is involved in the general application of technologies, as well as in specific aspects of the value chain, including capture and conversion. Ongoing research initiatives in the province include the BC Centre for Innovation and Clean Energy (CICE), BC Research Inc, CarbMin Lab and Solid Carbon which is a collaboration between Ocean Networks Canada and the Pacific Institute for Climate Solutions (PICS).

CCUS-ITC

Federal legislation released in early 2024 includes B.C. as a designated jurisdiction under the federal Carbon Capture, Utilization, and Storage Investment Tax Credit (CCUS-ITC).  It recognizes B.C.'s regulatory framework for geological sequestration (long-term storage) as sufficient for ensuring permanent CO₂ storage. The CCUS-ITC is expected to aid investors by lowering capital costs for CCUS projects and covers activities between the years 2022 to 2040.