The Opportunity Calgary Investment Fund (OCIF), along with PrairiesCan, Alberta Innovates, CIBC, Avatar Innovations and Pathways Alliance are investing in a project valued at over $10 million into the ETC Foundation, reinforcing Calgary’s position as the energy capital of Canada and leader in energy innovation.
“Calgary continues to lead the global conversation on energy innovation, sustainability and economic diversification. This investment into the ETC Foundation underscores our city’s readiness to collaborate internationally and lead by example in creating sustainable energy solutions that have a lasting global impact," said Mayor Jyoti Gondek, City of Calgary.
Calgary: A leader in energy innovation
This investment into the ETC Foundation includes a significant expansion of entrepreneurial resources and facilities, such as a 17,000 sq ft flexible workspace in downtown Calgary designed specifically to facilitate collaboration among low-emission energy startups, ecosystem partners, and investors. Expanded programming will feature structured educational courses, industry workshops and hands-on training, particularly benefiting graduate students, PhDs and professionals seeking to upskill.
“Our energy sector in our community was, and continues to be, built by innovators and doers, driven by an entrepreneurial spirit that is second to none. This investment by OCIF will help fuel local startups to find technological solutions that will power a low-carbon economy and secure economic prosperity for generations to come," said Brad Parry, CEO, Opportunity Calgary Investment Fund and President and CEO, Calgary Economic Development.
Powering Calgary's economy into the future
OCIF’s investment is expected to train up to 60 individuals, support 30 local companies, and incubate 10 new companies for commercialization over the next four years.
The ETC Foundation plays a pivotal role by bridging innovators and corporate partners to fast-track technologies essential for a low-carbon economy. The Foundation provides a convening space, education, development and strategic support for emerging and established players in the sector to collaborate and develop partnerships. Through these partnerships, ETC is accelerating innovative solutions that promise to power Calgary's economy into the future.
OCIF investments strengthen local innovation ecosystem
This new investment builds on OCIF’s original 2022 funding commitment that launched the ETC through Avatar Innovations. Over the course of that three-year initiative, the ETC supported more than 60 startups who collectively raised over $500 million in venture capital.
“The ETC Foundation is proud to receive significant support from Calgary’s Opportunity Calgary Investment Fund (OCIF), alongside Prairies Economic Development Canada and Alberta Innovates, reinforcing the city’s leadership in accelerating energy innovation. This investment in the Energy Transition Centre deepens Calgary’s commitment to community, collaboration, and connection, and marks a pivotal step in strengthening the local energy innovation ecosystem—fueling new technologies, talent development, and pathways to commercialization," said Nannette Ho-Covernton, Executive Director, ETC Foundation.
The Alberta Energy Transition Study found that a low carbon economy could generate nearly 170,000 jobs and contribute $61 billion to provincial GDP by 2050.
OCIF is helping build a diversified economy by investing in projects that accelerate innovation and make Calgary a top destination for bright minds and big ideas. Learn how this approach aligns with Calgary's long-term economic vision, Uplook: An Action Plan for Our Economy.