The Government of Canada is investing $5 million in the Latitude 53 geothermal energy project located in Hinton, Alberta.
According to the Novus Earth website, the company spearheading the project, Latitude 53 “will combine geothermal energy with hydroponics and aquaculture to grow fresh produce and harvest seafood for the local region and Northern Territories.”
The funding will assist Novus Earth in its exploration of the geothermal resource and will also provide critical resources to advance the project. Specifically, the funds will assist in de-risking the project through technical feasibility and FEED studies, as well as through supporting community engagement and skilled training initiatives essential to the success of the project.
“Success at Novus Earth hinges on a well-diversified, collaborative team with the management and technical capabilities to bring the Latitude 53 project to fruition,” said Jeff Messner, President of Novus Earth Energy.
In a press release issued by Natural Resources Canada, the federal government says it is advancing the deployment of smart renewable energy and enabling grid modernization technologies in a number of communities across Canada. As a clean, renewable energy source, geothermal will help Canada meet its climate targets.
The Honourable Jonathan Wilkinson, Minister of Natural Resources said “the Government of Canada supports projects like the Latitude 53 Project that seek to explore and modernize geothermal technologies to lower emissions by creating a greener, more connected electrical grid.”
The $5-million investment in Novus Earth will help the company to execute a front-end engineering design (FEED) study for the Latitude 53 geothermal energy project in Hinton.
“We are deeply engaged and passionate about reinventing the way energy is produced and consumed, solving real world problems with innovative solutions,” said Messner. “The strong relationships built with academia, government, industry and the Hinton community will provide the additional expertise required for the proposed work.”
It is expected that the project will boost skill development, educational and curriculum opportunities, long-term employment and enhanced equality, diversity and inclusion for the residents of Hinton and surrounding Indigenous communities.
Novus Earth and Mitacs National Research Organization are also contributing to the project, bringing the total investment to nearly $6.6 million.
Federal funding for this project is provided by Natural Resources Canada’s Smart Renewables and Electrification Pathways (SREPs) program, a four-year, $964-million program that provides support for smart renewable energy and electrical grid modernization projects.