Saskatchewan is set to welcome an innovative, first-of-its-kind hydrogen production project, which marks the first, formally approved initiative under the provincial government鈥檚 Saskatchewan Petroleum Innovation Incentive (SPII).
Proton Technologies will deploy its patented process to extract hydrogen from existing oil reservoirs, while carbon dioxide will remain trapped in the ground. This cutting-edge technology is the first commercial deployment of its kind in the world. It also has the potential to repurpose abandoned wells, fields and facilities.
鈥淪askatchewan is a leader in the natural resource sector and continues to pilot new developments and technologies that benefit both the economy and the environment,鈥� Energy and Resources Minister Bronwyn Eyre said. 鈥淭his hydrogen project is a win-win: it has a low cost structure and will emit zero emissions.鈥�
The SPII was created to support the commercialization of significant innovations in the petroleum and natural gas sectors in the province. The program offers a 25 per cent transferrable royalty credit on eligible innovation projects and is open to pilot and commercial scaling projects that demonstrate oil and gas innovation in an operational environment.
SPII will target projects related to improving oil and gas recovery, managing environmental impacts, value鈥恆dded processing and production byproduct commercialization.
聽鈥淪askatchewan is a great place to invest and do business, especially in the energy industry,鈥� Proton Technologies chairman and CEO Grant Strem said. 鈥淲e are excited to move ahead with the first commercial deployment of this technology in the world here in Saskatchewan, and we have exciting plans to further advance and scale this technology in future stages.鈥�
鈥淥ur province looks forward to 小蓝视频 the home of the world鈥檚 first zero-emission hydrogen oil reservoir extraction technology,鈥� Kindersley 小蓝视频 Ken Francis said. 鈥淭his project already employs 14 people in the Kerrobert area and has the potential to employ up to 30 people by the end of the year, and lead to further economic diversification and growth, despite these challenging times.鈥�
The hydrogen market is expanding globally, with increasing use in power generation, transportation fuel and feedstock in the chemical industry.
