Minister O’Regan unveils $1.5bn Clean Fuels Fund for Canada f-cell+HFC: Minister O’Regan unveils $1.5bn Clean Fuels Fund for Canada
By Molly Burgess, on Jun 21, 2021
The Honourable Seamus O’Regan Jr. has just announced a $1.5bn Clean Fuels Fund for Canada at the virtual f-cell+HFC event.
“Today our Government is launching a new $1.5bn Clean Fuels Fund to facilitate the next generation of fuel production, including clean hydrogen, and to deliver on some of the early actions laid out by our Hydrogen Strategy,” Canada’s Minister of Natural Resources just told the event’s audience.
“Clean fuels are pivotal to fuelling our future, a future which continues to great good jobs. It strengthens our competitiveness and dramatically lowers our emissions.
“Today, clean fuels make up less than 5% of the energy mix. By growing our domestic market, and increasing our capacity to produce clean fuels, we can increase that share up to 60% – and that’s where it needs to be.”
Announcing the funds, Minister O’Regan reaffirmed his commitment to hydrogen fuel, stating that, “Hydrogen is no longer a dream; it’s possible now.”
“Clean fuels are not only critical for tackling the climate crisis confronting us, they are also an economical opportunity. Building up Canada’s clean fuels industry will create more than 35,000 direct and in direct jobs.
“It will leverage an additional $3.5bn in other public and private investments over the next five years, and fundamentally, it will lower our emissions by up to 12-megatonnes annually.
Stating that Canada is not wasting time on getting started, Minister O’Regan announced that a 100-day competitive call for proposals is open right now.
Elaborating on the above, he stated that the Government is accepting applications for projects that increase Canada’s capacity to produce clean fuels.
“This is how we build back up. This is how we exceed our climate bills for 2030. This is how we lower emissions. This is how we lead. This is how we leave no-one behind,” he stated.