OILSANDS: Canada invests $72M in clean technology for two Alberta companies

[caption id="attachment_1003727496" align="aligncenter" width="474"] Titanium Corp.’s plant at the Horizon oilsands project will create a new source of zircon and titanium. (Image: Titanium Corporation)[/caption] CALGARY – The federal government has announced plans to invest $72.3 million in clean technology for the Alberta oil and gas sector to address climate change and create jobs. Minister of Natural Resources Amarjeet Sohi made the announcement on March 14. The funds will go to oil sands producer Canadian Natural Resources and Titanium Corporation’s Creating Value from Waste (CVW) technology. Canadian Natural will receive $5 million from the Clean Growth Program to further develop an open pit mining technique whereby the oilsands are separated into bitumen, solids and water. The technology is being applied at the Horizon oilsands mine in northern Alberta. Another $22.3 million from the Low Carbon Economy Fund will be directed to Canadian Natural for a new steam turbine generator to reduce emissions and provide power at the Athabasca oilsands project near Fort McMurray, Alta. Chevron Canada and Shell Canada are partners in the AOSP. Titanium Corp.’s CVW technology is to get a $45 million boost from both the Clean Growth Project and the Low Carbon Economy Fund to remediate tailings at the Horizon project. Titanium is developing a method of recovering lost bitumen, solvents and metals from tailings, thus reducing  volatile organic compounds and greenhouse gas emissions. The zircon and titanium recovered have uses in ceramics, coatings and other everyday products. Learn more at www.TitaniumCorporation.com and www.CNRL.com.