ST. JOHN'S, NL, June 2, 2026 /CNW/ - Canada is taking action to build a stronger, more secure and competitive economy to become a clean and conventional energy superpower.
Today, at the Energy NL Conference & Exhibition in St. John's, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, on behalf of the Honourable Tim Hodgson, Minister of Energy and Natural Resources, announced more than $4.5 million in funding for four energy projects in Newfoundland and Labrador.
- Newfoundland and Labrador Hydro is receiving over $2.6 million to identify and implement energy-saving opportunities for industrial facilities in communities served by diesel plants.
- Tacora Resources Inc. is receiving $141,500 to implement an ISO 50001-compliant energy management system at the company's Scully Mine in Wabush.
- Aker Solutions Canada Inc. is receiving $1.2 million to assess the technical, economic and regulatory feasibility of a marine-based carbon dioxide transport and offshore storage solution.
- Angler Solutions Inc. is receiving $497,200 to assess the potential for developing a regional carbon capture and storage hub in Newfoundland and Labrador's offshore capable of sequestering CO₂ from onshore Canadian and potentially international sources.
These investments will help businesses on the east coast improve productivity, strengthen competitiveness, create jobs and seize new opportunities across Newfoundland and Labrador's energy sector.
Quotes
"Newfoundland and Labrador's energy sector plays an important role in driving economic growth and strengthening Canada's energy future. Today's investments will support industrial efficiency, advance carbon management solutions and help position the province for long-term growth."
The Honourable François-Philippe Champagne
Minister of Finance and National Revenue
"Investing in industrial efficiency and carbon management is key to building a stronger, more competitive Canadian economy. These projects in Newfoundland and Labrador will help businesses reduce costs and boost productivity while creating good jobs for Canadians and supporting long-term economic growth."
The Honourable Tim Hodgson
Minister of Energy and Natural Resources
Quick Facts
- Newfoundland and Labrador Hydro and Tacora Resources Inc.'s projects are funded through Natural Resources Canada's Green Industrial Facilities and Manufacturing Program, which supports energy efficiency and energy management solutions in Canada's industrial sector, helping reduce emissions, lower costs and strengthen competitiveness.
- Aker Solutions Canada Inc. and Angler Solutions Inc. are funded by the Energy Innovation Program, which supports research, development and demonstration of clean energy technologies, strengthening Canada's energy systems, supporting regionally tailored solutions and driving economic growth and competitiveness.
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SOURCE Natural Resources Canada
Contacts: Natural Resources Canada, Media Relations, 343-292-6096, [email protected]; Charlotte Power, Office of the Minister of Energy and Natural Resources, [email protected]
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