Canadian Gas Association Announces Natural Gas Innovation Fund
The Canadian Gas Association (CGA) announced the intention to create the Natural Gas Innovation Fund (NGIF) to support research, demonstration and deployment of innovation in the natural gas value chain. CGA says investing in innovation in the natural gas sector is essential to create a pathway to greenhouse gas emissions reductions that is both affordable and reliable.
The Natural Gas Innovation Fund will bring utilities, government, academia, incubators, accelerators, and technology developers in the natural gas value chain to support natural gas innovation and reduce emissions, drive energy efficiency, and ensure the availability of affordable energy for customers.
A key priority for the fund will be to find ways to access monies collected from natural gas ratepayers from cap and trade, carbon tax or other emission reduction mechanisms instituted by governments, and direct those monies to the financing of innovation in the use of gas. In this way rate payers will have the levies they pay directed back to them – ensuring the continued availability of clean and affordable energy for their needs.
The Natural Gas Innovation Fund will consider support for a range of investment opportunities including technologies to support natural gas use as a clean and affordable alternative transportation fuel such as high horsepower engines for on and off road transportation, and home refueling compressed natural gas kits. The fund will also consider technologies for the broader use of renewable natural gas (RNG).
“CGA has made innovation a key focus for the last six years with initiatives and investments around the use of our fuel and our infrastructure,” said Timothy M. Egan, President and CEO, CGA. “Natural gas is an affordable, clean, safe, and reliable energy choice for Canadian consumers and investments made through this fund will build on the value proposition of that choice.”