MEG Energy gets federal funding for cleantech innovation

Company developing a way to improve bitumen recovery while reducing greenhouse gas emissions and water consumption

Mario ToneguzziCalgary-based MEG Energy Corp. is one of four companies nationally to receive investment from the federal government for world-leading clean technology innovations.

The announcement was made on Wednesday at Sustainable Development Technology Canada’s Cleantech Leadership Summit.

The government said the $10 million it will invest in MEG is because the company “is developing a way to improve bitumen recovery in oil sands development and production while reducing greenhouse gas emissions and water consumption.”

“Our government’s investments in cleantech reflect our commitment to protecting the planet and growing our economy. They also point to a clear direction for economic development through innovation. That’s because innovations in cleantech have the potential to create thousands of well-paying middle-class jobs for Canadians. That’s how innovation leads to a better Canada,” said Navdeep Bains, federal minister of Innovation, Science and Economic Development.

Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.

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