Alberta is spending more than $20 million to help local drilling companies bring new technologies to market faster, reinforcing its global leadership in energy innovation.The funding will support the Alberta Drilling Accelerator, a new program delivered through Emissions Reduction Alberta, and aims to reduce emissions while boosting the province’s energy output in areas such as oil and gas, geothermal, lithium, and carbon capture.“Alberta’s drilling expertise is second to none,” said Rebecca Schulz, Minister of Environment and Protected Areas. “This funding is all about getting the next generation of drilling tech out of the lab and into the field, powering the world and Alberta’s economy at the same time.”The money comes from the industry-funded Technology Innovation and Emissions Reduction (TIER) fund, and is part of phase one of the new initiative. The program is expected to officially launch in fall 2025, with planning and industry engagement taking place over the summer.Many emerging technologies struggle to get off the ground due to the high cost of testing and limited access to real-world trial sites. Alberta’s government hopes this program will bridge that gap, accelerating development in geothermal, helium, critical minerals, and carbon capture and storage.Justin Riemer, CEO of Emissions Reduction Alberta, said drilling technology has a clear role in cutting emissions in oil and gas, while also enabling breakthroughs in other resource sectors.“Drilling technology is highly relevant to Emissions Reduction Alberta’s mandate,” said Riemer. “We look forward to sharing the scope of this funding in the fall.”The province’s drilling sector, long regarded as one of the most advanced in the world, is positioned to benefit from rising global demand for clean and efficient energy technologies. Geothermal investment alone is forecasted to hit $1 trillion by 2050.Further phases of the Alberta Drilling Accelerator are expected to follow, as the province continues to support technologies that rely on its deep drilling expertise.
