The Newfoundland and Labrador government is looking for applicants to its newly announced CCUS Innovation Challenge, which stands for carbon capture, utilization and storage.

Specifically, Newfoundland is offering up to $3 million for research and development work on technologies to decarbonize the province’s offshore energy sector, as well as another $3 million to transform it into a regional carbon sequestration hub.

The money can pay for up to half of a project’s total cost, with the private sector and academic partners paying the rest. But all applicant teams must be led by a Newfoundland-based post-secondary institution or a corporation with at least two years of offshore operating experience in the province.

“Our analysis tells us that net zero by 2050 is not achievable in Newfoundland and Labrador without initiatives that result in negative GHG emissions,” said Kieran Hanley, CEO of cleantech industry group econext in a statement. “Carbon capture, utilization, and storage is a promising technology that can help us – and the world – get there.

“Therefore, econext is excited about the creation of the CCUS Innovation Challenge. Targeted investments in innovation like the one being made today will help put our province on the leading edge of cleantech development on an international basis.”

The deadline to apply is Nov. 17, and you can learn more here.