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Government of Canada Announces $11 Million to Advance Small Modular Reactor Research and Hydrogen Technologies to Support Clean Energy Development

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CALGARY, AB, July 3, 2024 /CNW/ – As nations globally move to reduce carbon emissions and shift to non-emitting forms of energy, investing in advanced technologies will help ensure Canada remains a global energy leader. Through and beyond the energy transition that is already well underway, ultra-low carbon sources of energy such as wind, solar, hydro and nuclear power will be key to seizing the enormous economic opportunities that are available to Canadians in all regions of the country.

It is in this context that federal, provincial and territorial ministers are meeting in Calgary, Alberta, from July 3 to July 5, 2024, at the annual Energy and Mines Ministers’ Conference, to share perspectives and continue driving momentum in the energy and mining sectors.

Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced $11 million in funding for nine energy technology projects — $2.5 million in funding for small modular reactor research and $8.5 million to support innovation in Canada’s clean hydrogen sector.

Of this funding, $5 million will be allocated to three projects in Alberta selected through the Energy Innovation Program’s (EIP) Clean Fuels and Industrial Fuel Switching call for proposals, including:

$3,000,000 to Aurora Hydrogen Inc. to advance the use of microwave energy for pyrolysis technology to convert methane to hydrogen and solid carbon with minimal greenhouse gas emissions and no water use;$1,000,000 to Quantiam Technologies for the production of carbon-negative methanol and e-fuels from captured carbon dioxide and green hydrogen; and,$1,000,000 to Innova Hydrogen Corp for zero-carbon hydrogen production via catalytic methane pyrolysis.

The remaining four projects, also in Alberta, are funded through the EIP and support the Hydrogen Centre of Excellence, a strategic initiative led by Alberta Innovates. They include:

$1,300,450 to ATCO Gas and Pipelines Ltd., in partnership with Qualico, to conduct a feasibility assessment of a pure hydrogen pipeline network to heat new homes in the community of Bremner in Strathcona County, Alberta, including constructing a pure-hydrogen demonstration home;$1,264,550 to Innovative Fuel Systems to reduce emissions from heavy-duty vehicles by developing a hydrogen and diesel dual-fuel retrofit system applicable to 90 percent of heavy-duty engines;$508,935 to ATCO Gas and Pipelines Ltd. to develop the Fort Saskatchewan Operating Centre into the first commercial 100-percent hydrogen-heated building in North America and as a demonstration site for end-user heating technologies that utilize pure and blended hydrogen with natural gas; and,$415,000 to New Wave Hydrogen Inc. to accelerate the time of methane thermal cracking for hydrogen production via shock wave heating technology in preparation for successive field pilots.

These projects will drive progress in energy innovation across Canada while positioning the country to become a leader in hydrogen and other critical energy technologies.

Nuclear energy is part of the suite of non-emitting technologies needed for the world to transition to a net-zero future. NRCan introduced the Enabling Small Modular Reactors (SMRs) Program in 2023 to support the development of supply chains for SMR manufacturing and fuel and fund research on SMR waste management solutions to ensure that SMRs, and the waste they generate, can be safely managed, now and into the future.

As part of the Enabling SMRs Program:

The University of Regina will receive a total of $941,651 over three years to study long-term disposal strategies for intermediate level and non-fuel high level wastes from SMRs within Saskatchewan; and,The University of Alberta will receive a total of $1,656,000 over three years for its project on additive manufacturing (AM) of next-generation functionally graded materials for use in SMRs.

Canada is committed to achieving net-zero emissions by 2050 and recognizes that close collaboration with provinces and territories, Indigenous partners and key stakeholders is crucial to building a thriving, inclusive, low-carbon economy. By working together through gatherings such as the annual Energy and Mines Ministers’ Conference, Canada is advancing the most promising competitive advantages in every region of the country to drive a prosperous and sustainable economy for the future.

Quotes

“This week’s announcements are part of a series of significant steps the Government of Canada continues to take to support good jobs and promote sustainable growth, including the launch of the Hydrogen Strategy for Canada Progress Report, Canada’s Critical Minerals Strategy and Canada’s founding of the Sustainable Critical Minerals Alliance last fall. I will continue to work with all partners to ensure Canada remains a global supplier of choice for clean energy in a net-zero world — ensuring a prosperous and clean future for Canadians from coast to coast to coast.” 

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

“New Wave Hydrogen is honoured to be a part of the Canadian clean energy transition. The vision and benefits of these funding programs offer vital support to emerging companies. This funding stimulates growth, not just for the New Wave technology — it extends to support Canada’s innovation ecosystem and networked growth through engineering, manufacturing and clean energy sectors.”

Kathleen O’Neil
CEO New Wave Hydrogen, Inc.

Quick Facts

According to an independent ranking from BloombergNEF, Canada has surpassed China as the world’s most promising jurisdiction for manufacturing lithium-ion batteries such as those used in electric vehicles.  The EIP advances clean energy technologies that will help Canada meet its climate change targets, while supporting the transition to a low-carbon economy. It funds research, development and demonstration projects and other related scientific activities.Interest in low-carbon hydrogen in Canada has increased significantly since 2020, with over 80 low-carbon hydrogen production projects announced, representing over five million tonnes of hydrogen production capacity and an economic expression of interest of over $100 billion in potential investment in domestic clean energy opportunities and jobs.Since 2020, British Columbia, Alberta, Ontario, Quebec, Nova Scotia and New Brunswick have published hydrogen strategies, identifying hydrogen as a provincial clean energy priority and describing provincial actions and objectives to realize regional low-carbon hydrogen objectives. Hydrogen has been identified as a key opportunity area by a number of jurisdictions as part of the Regional Tables and features prominently in the recently released British Columbia Regional Energy and Resource Table – Framework for Collaboration on the Path to Net-Zero.There are now 13 low-carbon hydrogen production facilities in operation across Canada, able to produce over 3,000 tonnes of low-carbon hydrogen per year. NRCan was allocated $29.6 million over four years in Budget 2022 for research and development to support the conditions and frameworks necessary for SMRs to displace fossil fuels and contribute to climate change mitigation. Funding announced today complements work taking place with a number of jurisdictions through the Regional Tables, as well as through the Canada-Alberta Working Group and a sub-working group on SMRs.The nuclear sector helps Canada avoid approximately 45 million metric tonnes of carbon dioxide emissions annually, compared to electricity produced from natural gas. In a country where 82 percent of our electricity already comes from low- or non-emitting sources, nuclear continues to be a complement to the strong renewables sector in continuous development. 

Related Information

Canadian Critical Minerals Strategy Hydrogen Strategy for Canada and Progress Report
Energy Innovation Program
Hydrogen Centre of Excellence – Alberta Innovates
Enabling Small Modular Reactors Program
Budget 2024 – Attracting Investment for a Net-Zero Economy
Backgrounder: Economic Growth and Productivity
2030 Emissions Reduction Plan: Clean Air, Strong Economy
Net-zero emissions by 2050
Clean Hydrogen Investment Tax Credit

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SOURCE Natural Resources Canada

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Strictly Money Launches Crowdcube Campaign, Inviting European Investors to Fuel its Growth Journey

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LONDON, Dec. 27, 2024 /PRNewswire/ — Strictly Money Ltd, the London-based fintech, has launched a crowdfunding campaign on Crowdcube to invite European investors to fuel its next phase of growth. Crowdcube, Europe’s largest private market investment platform, has powered success stories like Revolut, Qonto, and Monzo. Regulated by the UK’s Financial Conduct Authority (FCA), Crowdcube provides a trusted and innovative platform for investors to participate in transformative ventures.

Strictly Money’s primary objective with this campaign is to accelerate its growth, fuel product development, and expand its shareholder base. The funding will enable Strictly Money to launch its payment card and banking app in early 2025 and to strengthen its market presence in Scandinavia, the UK, and Ireland. The company plans to introduce hedge fund returns products, broadening investment options for consumers by the end of 2025.

Discover how you can be part of Strictly Money’s growth journey by visiting our Crowdcube campaign at https://crowdcube.getstrictlymoney.com.

Will Povey, CEO and Co-Founder of Strictly Money, said: “At Strictly Money, our vision is to empower everyday investors with access to wealth-building tools and opportunities that were previously reserved for high-net-worth individuals. With this crowdfunding campaign, we aim to bring together a diverse community of investors who share our passion for financial innovation and inclusivity. This funding will not only help us launch our innovative debit card and app but also drive the development of new products that deliver real value to our users.”

About Strictly Money:

Strictly Money is a UK-based financial technology company set to launch a debit card and a cutting-edge banking app in early 2025. The company aims to democratize access to high-performing hedge fund returns, providing innovative investment strategies and financial solutions tailored to investors, savers, and entrepreneurs. Strictly Money’s mission is to open up premium investment opportunities traditionally limited to high-net-worth individuals (HNWIs). For more information, visit https://strictly-money.com.

For media inquiries contact:
Mary Prendergast
Email: ir@getstrictlymoney.com 

Important Notice: 

Investing in startups and early-stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. It should be done only as part of a diversified portfolio. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Please read the full Risk Warning on Crowdcube’s website before deciding to invest.

Logo – https://mma.prnewswire.com/media/2588210/Strictly_Money_Logo.jpg

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HackIndia 2025 Expands to Reach 25,000 Students Across 150 Universities, Breaking Barriers to Web3 and AI Opportunities

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NEW DELHI, Dec. 26, 2024 /PRNewswire/ — HackIndia, the nation’s largest Web3 and AI hackathon series, is set to make a groundbreaking return in 2025. Building on the extraordinary success of HackIndia 2024, which engaged 9,000 students across 50 universities, HackIndia 2025 will grow its reach to 25,000 students across 150 universities, further solidifying its position as a transformative platform for India’s budding tech talent.

Organized by CSharpCorner, HackIndia’s mission is clear: to connect Indian students and universities with emerging Web3 and AI technologies by providing education, resources, and opportunities while eliminating barriers to entry. The initiative is not just a hackathon—it is a movement to empower India’s youth by fostering innovation, skill development, and career growth.

Empowering Students Through Innovation
HackIndia 2025 introduces an exciting new feature that will fuel real-world innovation. For the first time, teams will gain access to accelerated grants and industry mentors to develop their Web3 and AI projects beyond the hackathon stage. This initiative will enable young developers to transform their ideas into tangible solutions, pushing the boundaries of Web3 innovation in India.

Furthermore, HackIndia 2025 is addressing a crucial need for students by providing career pathways. The ten events will feature opportunities for participants to network with leading employers, explore career options, and even interview for roles within the Web3 and AI sectors. This addition reflects HackIndia’s broader commitment to not only educating students but also helping them secure meaningful employment.

A Legacy of Impact
HackIndia was created as part of CSharpCorner’s dedication to helping Indian students learn, earn, and grow. As a global community of 3 million developers and tech enthusiasts, CSharpCorner has consistently championed opportunities for Indian students, helping them access cutting-edge technology and mentorship. By expanding HackIndia year after year, the initiative has become a launchpad for India’s next generation of innovators, empowering them to succeed in the global tech economy.

“HackIndia is not just a series of events. It’s a movement,” said Stephen Simon, Director CSharp HackIndia. “By scaling HackIndia to new heights in 2025, we’re investing in India’s greatest asset—its youth—and paving the way for a brighter, more innovative future powered by Web3 and AI.”

HackIndia 2025 promises to be more than just a hackathon—it will be a stepping-stone for students to unleash their potential, build meaningful solutions, and shape the global future of technology.

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SOURCE CSharp Inc

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PEAK6 to Relocate Global Headquarters to Austin, Texas

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CHICAGO, Dec. 27, 2024 /PRNewswire/ — PEAK6 Investments LLC (“PEAK6”) today announced that, effective January 1, 2025, it will move its global headquarters from its current location in Chicago, Illinois to the company’s existing office in Austin, Texas, which it established in 2021. PEAK6 affiliates PEAK6 Group LLC, PEAK6 Strategic Capital LLC, PEAK6 APX Holdings LLC and PEAK6 LLC will also relocate their global headquarters to Austin. PEAK6 will maintain its office in Chicago.

Texas has been a cornerstone of PEAK6’s growth for over a decade,” said PEAK6 Co-Founder and Co-CEO, Matt Hulsizer, who continued, “With the majority of our talented workforce now based in Texas and Austin emerging as our largest office, moving our headquarters was an important decision to be closer to our team. We’re excited for the next chapter of PEAK6 that will be written from our new headquarters.”

Austin’s unique blend of creativity, technology and culture provides the ideal environment for PEAK6. The city’s highly educated workforce, business climate, and strong entrepreneurial spirit have enabled us to attract top talent and drive innovation.

About PEAK6

PEAK6 uses technology to find a better way of doing things. The company’s first tech-based solution was developed in 1997 to optimize options trading, and over the past two decades, the same formula has been used across a range of industries, asset classes, and business stages to consistently deliver superior results. Today, PEAK6 seeks transformational opportunities to provide capital and strategic support to entrepreneurs and forward-thinking businesses.

PEAK6’s core brands include PEAK6 Capital Management, PEAK6 Strategic Capital, Apex Fintech Solutions, We Insure, FOCUS, Zogo, Evil Geniuses and Poker Power.

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SOURCE PEAK6 Investments

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