Cenovus is the co-founder of a first-of-its-kind investment partnership, along with Suncor Energy and the BC Cleantech CEO Alliance, to connect the energy industry and the global clean technology community.
There is a significant opportunity to reduce our environmental impact in the oil and gas industry through technology development – from the production of fossil fuel all the way to its end use. Cenovus and Suncor are funding Evok Innovations, providing up to $50 million each over the next 10 years. Evok connects our industry with entrepreneurs who are developing the next generation of clean energy technologies.
Evok funds and accelerates the development and commercialization of technology to address our industry’s most pressing environmental and economic challenges in the following areas:
- Eliminating greenhouse gas emissions from the production of oil to its end use
- Eliminating the need for water consumption in the oil and gas industry as well as addressing wastewater disposal
- Eliminating environmental impacts of potential oil spills on land or in marine environments
- Delivering cleaner energy products to consumers
Evok provides entrepreneurs with funding, expertise and access to potential clients to help them advance the development of potentially game-changing technologies from concept to commercialization. The technologies developed through Evok could also be applied to other industries in Canada and around the world.