Firms in­vest up to $100 mil­lion in B.C. cleantech fund

The Guardian (Charlottetown) - - BUSINESS -

CAL­GARY — Two oil­sands heavy­weights are mak­ing a push into B.C.'s cleantech sec­tor. Cen­ovus En­ergy (TSX: CVE) and Sun­cor En­ergy (TSX:SU) have each pledged up to $50 mil­lion over the next 10 years to sup­port a cleantech fund launched Thurs­day called Evok In­no­va­tions. With the oil and gas in­dus­try fac­ing in­creas­ing pres­sure over eco­log­i­cal is­sues, the new fund will look for ways to im­prove the sec­tor's en­vi­ron­men­tal per­for­mance. Evok says it will look to pro­mote early-stage in­no­va­tions fo­cused on the en­ergy in­dus­try and to bring them to mar­ket faster. Ar­eas of fo­cus will in­clude re­duc­ing green­house gas emis­sions and wa­ter use and the im­pact of oil spills.

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