UCalgary and CIBC announce Energy Transition Centre agreement

The University of Calgary and CIBC have reached a multi-year sponsorship agreement for the new Energy Transition Centre. Located in the Ampersand building in downtown Calgary, the Energy Transition Centre is a collaboration between the university, Innovate Calgary, Avatar Innovations, and the energy industry.

The centre, which will officially open in September 2022, will take a novel approach to energy transition, providing programming which will engage highly qualified personnel from both the academic and industry sectors through career development, as well as technology development in areas of emerging technologies crucial for the energy transition. This includes engaging and supporting diverse industry employees as well as those involved in university research.

“The Energy Transition Centre will help spark a new wave of innovation within the energy industry that keeps pace with emerging technologies,” says UCalgary President Ed McCauley. “Thanks to the leadership of CIBC in this area, these new ventures will be empowered to build new pathways to knowledge translation and commercialization in clean energy development.”

Incubation, commercialization, investment

The Transition Centre includes incubation space, commercialization programming, and investments in startups. It will nurture innovation-led clean energy development, create companies, and generate economic activity and business expenditures in research and development that would not otherwise exist. In its role as sponsor, CIBC will support these activities by providing funding, and contributing to programming for the Energy Transition Centre.

“CIBC is proud to offer our expertise to energy transition innovators as they formulate new solutions and business models in pursuit of a lower-carbon future,” said Roman Dubczak, managing director and head, Global Investment Banking, CIBC. “This partnership with the Energy Transition Centre is another way we are enabling a more inclusive and sustainable economy.”

Directly support Canada’s net-zero commitments

CIBC is the latest institution to provide support to the Energy Transition Centre. In January 2022, through PrairiesCan, the federal government announced an investment of $2.14 million into the centre. With this financial backing, the Energy Transition Centre will help accelerate the transition from carbon-emitting energy systems by promoting cleaner energy alternatives while also enhancing workplace skillsets within the oil and gas sector. The collaboration at the Energy Transition Centre will directly support Canada’s net-zero commitments and also drive Calgary’s downtown revitalization.