Turning Underground Resources into Jobs

New industry dollars will tap into Alberta’s vast underground resources to create new, good-paying jobs and keep growing the economy.

Alberta’s massive natural resources and unique geology have turned the province into an economic powerhouse and global energy leader. Now, industry is exploring more ways to maximize the potential of Alberta’s underground caves and geological formations.

Up to $12.7 million from the industry-funded TIER program will be invested to support three new energy projects that use natural infrastructure to strengthen the electricity grid, safely store carbon dioxide and extract critical battery metals needed around the world. These projects will help grow the economy and create jobs from the County of Newell in the south to Valleyview in the north.

“These three projects will help tap into the massive potential of Alberta’s unique underground resources. By helping support these new technologies, we are showing how our unique geology can help grow the energy sector, strengthen the grid and create more high-paying jobs for Albertans for decades to come.”

Rebecca Schulz, Minister of Environment and Protected Areas

“This investment helps de-risk and advance technologies that unlock greater value from Alberta’s vast underground resources, reduce emissions, and strengthen the province’s competitive position. ERA’s Continuous Intake Program enables us to ensure high-impact innovations get the support they need to move forward and reach the market faster.”

Justin Riemer, Chief Executive Officer, Emissions Reduction Alberta

Alberta has a significant number of salt caverns, primarily located in central and northeastern parts of the province. A $5-million investment through Emissions Reduction Alberta (ERA) will help Cache Power Corp. advance the Marguerite Lake Compressed Air Energy Storage Demonstration Project. This project would use electric motor-driven compressors to capture excess electricity generated from Alberta’s grid, store it underground as compressed air and release it again when power generation is limited.

LithiumBank Resources will receive $3.9 million to advance its technology that pulls battery-quality lithium out of brine aquifer stored deep underground in northern Alberta. This exciting project uses Alberta’s existing resources to create critical metals needed for batteries, potentially providing another source for highly skilled jobs and innovation in northern communities.

Carbon Management Canada will receive $3.8 million to test a new monitoring system that will safely and cheaply sequester carbon dioxide underground. This will help advance the province’s massive potential for carbon capture, utilization and storage (CCUS) and keep growing its responsible energy sector.

“The substantial support received from the Government of Alberta and Emissions Reduction Alberta is critical to advancing the Marguerite Lake Compressed Air Energy Storage Project. This investment helps position Alberta as a leader in innovative, long-duration energy storage and supports the province’s goals of building a reliable, affordable, and sustainable electricity system, while also advancing energy partnerships with Indigenous communities.” 

Jordan Costley, President, Cache Power Corp.

“This grant funding from the Government of Alberta, through Emissions Reduction Alberta, is evidence of Alberta stepping up and supporting the advancement of lithium production in the province. This grant that matches private investment will expedite LithiumBank’s development of the Boardwalk project and advance the company towards battery grade production.”

Kevin Piepgrass, Chief Operating Officer, LithiumBank Resources

“This new project will enable Carbon Management Canada (CMC), in collaboration with our joint industry partnership, to develop cost-effective and real-time, innovative monitoring solutions for CO2 geological storage. Monitoring systems are an essential component to derisk and establish secure operations at geological carbon storage sites that support CCUS deployment. The work will be undertaken primarily at CMC’s Newell County Field Research Station and is made possible with financial support from the Government of Alberta through Emissions Reduction Alberta.”

Neil Wildgust, President and CEO, Carbon Management Canada
Quick Facts
  • The combined value of the three projects is $35 million.
  • Funding is delivered through Emissions Reduction Alberta’s Continuous Intake Program.
  • Emissions Reduction Alberta is funded by Alberta’s Technology Innovation and Emissions Reduction (TIER) system, which uses industry dollars to help Alberta facilities invest in innovative emissions-reduction technology to stay globally competitive, create jobs and save money.
Related Information
Media Inquiries

Ryan Fournier
Press Secretary, Environment and Protected Areas
Ryan.Fournier@gov.ab.ca
780-232-2213