This morning the B.C. Centre for Innovation and Clean Energy (CICE) announced the allocation of $2.82 million in non-dilutive funding for B.C. companies that support the measurement, monitoring, and verification (MMV) of carbon emission reduction, removal and avoidance.
Through this investment CICE is supporting the commercialization of MMV solutions which are vital to assessing carbon emissions reductions, removal and avoidance at scale.
This investment will help advance the expansion of the global carbon credit market and spur further investment in emissions reductions programs and technologies.
CICE launched the call for MMV innovation in June 2023, and welcomed over 100 potential applicants. Today’s MMV funding recipients include:
Arca is developing MMV technology for quantifying and validating carbon dioxide removal via carbon mineralization in alkaline waste. While Arca’s carbon dioxide removal technologies are currently focused on mine tailings, its MMV technology will be applicable to all methods of surficial carbon mineralization.
Metaspectral is creating a precise and cost-efficient method of assessing, quantifying, and tracking the carbon sequestration capacity of land for various industries, including agriculture. AI models ingest hyperspectral imagery in real-time to measure concentrations and fluxes of greenhouse gasses more accurately. With a more efficient way to measure the carbon sequestration capacity of large fields, farmers are able to optimize their practices to maximize the carbon sequestration potential of their land.
Miraterra is developing a faster, more affordable way to test the soil quality of farm fields. Its proprietary Raman sensors provide near instantaneous measurement of key soil components including pH, soil organic carbon, soil organic matter, and NPK. This technology is fast, delivers results at approximately one-third the cost of conventional sampling, eliminates the need for toxic chemicals in conventional soil testing, and will ultimately be deployable in-field.
Quatern Limited Partnership is a collaboration between Quatsino First Nation and Western Forest Products, who will be implementing a technology to measure the change in carbon sequestration of forests due to large-scale fertilization efforts. A technology called Treeid will be used to analyze growth rates of individual trees using LiDAR data collected several years apart.
“British Columbia has a unique opportunity to lead the advancement of carbon management solutions by establishing MMV pathways and innovations,” said Todd Sayers, Chief Operating Officer of the B.C. Centre for Innovation and Clean Energy.
“CICE is proud to lead catalytic investment into Arca, Metaspectral, Miraterra, and Quatern Limited Partnership and looks forward to seeing their solutions reach global scaling and climate impact potential.”