CALGARY, AB (May 30, 2024): NGIF Accelerator, through its Industry Grants program, is leading the way to support cleantech innovation in Canada by announcing a funding contribution of $53,909.00 for the development of ZEET Inc.’s ZEETExchanger, a proprietary heat exchanger process that facilitates efficient heat transfer between operational fluids and/or gaseous mediums. This heat transfer process is ideal for recovering waste (exhaust) heat from industrial compressor engines and effectively applying it to other heat-intensive processes within industrial operations.
The ZEET project will carry out a commercial demonstration of its technology at a natural gas processing facility in Northwest Alberta co-owned by Tourmaline and Cenovus Energy. The project will showcase the technology capturing the exhaust heat from a Caterpillar compressor engine and transferring the recovered heat to thermal oil (which would otherwise be heated by a natural gas-fired system), thereby reducing energy consumption and related GHG emissions.
Based in Calgary, Alberta, ZEET is focused on specialized heat transfer solutions. The primary goal of this project is to accelerate the commercialization of this emission reduction technology in the natural gas sector within Western Canada. This project is expected to offset over 2,000 tonnes of CO2 per year, and ZEET’s goal is to have over 450 installations done by 2027, with a projected annual emissions reduction of nearly 1.0 MM tonnes of CO2 within that timeframe.
Image: The ZeetExchanger
“We are extremely pleased to have the support of NGIF and their membership, along with Alberta Innovates, Tourmaline, and Cenovus Energy (owners of the host facility), as key stakeholders in this critical commercial demonstration project,” said Riley Milford, President and CEO of ZEET Inc. “We believe that our innovative heat recovery solution aligns well with the natural gas industry’s environmental stewardship initiatives and will contribute significantly to the long-term sustainability of Alberta’s (and Western Canada’s) key industry.”
“We are excited to support ZEET and their work in the technical development of waste heat recovery and heat transfer systems that will benefit the natural gas industry,” said John Adams, President and CEO of NGIF Accelerator. “Our Industry Grants program and its focus on de-risking clean technologies through field trials and pilots are part of NGIF’s integrated model of industry validation, customer creation, and technology commercialization.”
“Canadians want and need the affordable, reliable, clean energy service offering they have come to expect from the natural gas industry. When we created NGIF, it was our vision to bring the entire natural gas value chain together to support cleantech development that enhances environmental and economic performance for the sector. I am glad to see our vision in action as NGIF continues to support technologies like the ZEETExchanger,” said Timothy M. Egan, President and CEO, Canadian Gas Association and Chair, NGIF Capital Corporation.
Industry Grants Participants and Project Partners
About Industry Grants program
The Industry Grants program is industry-led and offers non-dilutive grants to fund early-stage startups for technology development and field demonstration. The program specifically de-risks pre-commercial technology solutions that have the potential to increase the environmental performance of the natural gas sector. Each project in the program will accelerate technology readiness level progressions through controlled pilot testing and field trials to advance commercialization.
About NGIF Accelerator
NGIF Accelerator is the not-for-profit arm of NGIF Capital and will operate all technology and innovation programs. The NGIF Accelerator mandate is to de-risk and accelerate technology development by supporting startups through their pilot projects, field trials, and industry validation. It will coordinate with federal and provincial governments to co-fund projects to advance market commercialization. NGIF Accelerator currently operates the Industry Grants program and the Emissions Testing Centre program.
About ZEET Inc.
Zero Emissions Energy Technology (ZEET Inc.) is an Alberta-born privately held corporation that is focused on REDUCING energy consumption and related GREENHOUSE GAS (GHG) Emissions with its innovative heat transfer technology (the ZEETExchanger™). For more information, visit www.zeetinc.com
About Canadian Gas Association
The Canadian Gas Association (CGA) is the voice of Canada’s gas energy delivery industry, including natural gas, renewable natural gas (RNG), and hydrogen. Its members are distribution and transmission companies, equipment manufacturers and suppliers and other service providers. Today, natural gas meets 38 per cent of the country’s energy needs.
Fund Information:
John Adams
President and CEO, NGIF Accelerator
President and CEO, NGIF Capital Corporation
Media Information:
Ayoola Ajibare
Communications Coordinator, NGIF Capital Corporation
(403)-389-2212
aajibare@ngif.ca
