OTTAWA, ON (March 4, 2021) Today, the Natural Gas Innovation Fund™ (NGIF) welcomes Cutbank Dawson Gas Resources Ltd. (CDGR) as a new participating investor supporting innovation and clean technology development for the natural gas sector.
Cutbank Dawson Gas Resources Ltd. is a 100% subsidiary of Mitsubishi Corporation, based in Calgary, Alberta, which invests in the natural gas upstream development business in Canada. In addition to its investment in the upstream business, Mitsubishi Corporation holds other natural gas assets, including partial equity of LNG Canada.
With its assets in Canada, Mitsubishi Corporation is actively seeking and developing opportunities in GHG management, GHG abatement, GHG credit acquisition, and renewable LNG, through collaborations with organizations such as NGIF.
CDGR joins the 12 other leading energy corporations that are working with NGIF to invest in cleantech innovation to reduce emissions and improve the economic performance of Canada’s natural gas industry: Birchcliff Energy Ltd., Canadian Natural Resources Limited, Chevron Canada Limited, Perpetual Energy Inc., PETRONAS Energy Canada Ltd., Shell Canada Energy, and Tourmaline Oil Corp. representing the upstream natural gas sector; and ATCO Gas Ltd., Enbridge Gas Inc., FortisBC Energy Inc., Pacific Northern Gas Ltd., and SaskEnergy from the utility sector.
“NGIF is very excited to welcome CDGR to its group of natural gas companies committed to supporting innovation and cleantech development in the sector,” said John Adams, Managing Director, NGIF. “With the experience of CDGR and its parent company, Mitsubishi Corporation, I am confident in the expertise they will bring to the table.”
CDGR, together with the other 12 companies, will continue to leverage NGIF’s position as a Canadian innovation leader and the first cleantech innovation fund in Canada to focus on making our gas molecules the most competitive in the world.
“We are excited to be investing in Canadian innovation through the Natural Gas Innovation Fund. Canadian gas has the potential to be the lowest emission molecule in the world and can displace more carbon-intensive energy sources. We are excited to work with NGIF and their cleantech entrepreneurs to help us further emissions reductions and environmental leadership in Canada.”
Shinichi Seo, Chief Executive Officer, Cutbank Dawson Gas Resources Ltd.
“We created NGIF to help drive innovation in the natural gas value chain. I am very excited to have Cutbank Dawson Gas Resources Ltd. as a new participating investor supporting innovation to further advance this goal.”
Timothy M. Egan, President and CEO, Canadian Gas Association
About Natural Gas Innovation Fund:
NGIF was created by the Canadian Gas Association to support the funding of cleantech innovation in natural gas. NGIF fills a technology development gap in the sector and invests in innovation led by cleantech start-ups and small and medium-sized enterprises enabling natural gas solutions for current and emerging challenges facing Canada’s energy system.
About the Canadian Gas Association:
The Canadian Gas Association (CGA) is the voice of Canada’s natural gas delivery industry. Its membership includes natural gas distribution and transmission companies, equipment manufacturers, and suppliers to the industry. Our utility members are active in eight provinces and one territory and meet 35% of Canadians’ energy needs through a network of over 566,000 kilometers of underground infrastructure. This infrastructure can also be used to deliver renewable gases including renewable natural gas and hydrogen, to contribute to Canada’s greenhouse gas emission reductions. Today, over 7.2 million customer locations representing approximately two-thirds of Canadians, rely on natural gas for clean, affordable, and reliable heating and power.
Canadian Gas Association
Natural Gas Innovation Fund