The project will assess the technical, economic, and regulatory feasibility of a marine-based CO₂ transport and offshore storage solution, laying the groundwork for scalable carbon management across eastern Canada. 

The investment is part of the federal government’s Energy Innovation Program, which supports research, development, and demonstration of clean energy technologies. Designed to strengthen Canada’s energy systems, the initiative enables regionally tailored solutions and drives economic growth and competitiveness.  

“We are proud to play our part in advancing large-scale decarbonization solutions, creating new opportunities across Newfoundland and Labrador’s energy sector and supporting Canada’s path to a lower-carbon future. The project will help unlock practical pathways for offshore CO₂ transport and storage at scale,” said Stephen Penton, director at Entr, Aker Solutions.  

The funding forms part of a broader announcement made by the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, on behalf of the Honourable Tim Hodgson, Minister of Energy and Natural Resources. More than $4.5 million was committed for energy projects in Newfoundland and Labrador.