Cenovus, along with Suncor Energy and the BC Cleantech CEO Alliance, is a co-founder of Evok Innovations, a first-of-its-kind investment partnership to connect the energy industry and the global clean technology community.
There’s significant opportunity to reduce our environmental impact in the oil and gas industry through technology development – from the production of fossil fuels all the way to their end use. Evok is an independent, entrepreneur-led fund that offers mentorship, access to the oil and gas industry and development funding for early-stage clean technology companies.
Evok’s mission is to accelerate the development and commercialization of environmental and economic solutions for strategic partners by connecting cleantech entrepreneurs with major customers and subject matter experts in industry and providing them with opportunities to pilot and demonstrate innovative technologies. These are technologies that could be applied to other industries in Canada and around the world. Cenovus and Suncor have committed to provide up to $50 million each over 10 years to fund Evok Innovations.
- Eliminating greenhouse gas emissions from the production of oil and gas to their end use
- Eliminating the need for water consumption and wastewater disposal in the oil and gas industry
- Eliminating environmental impacts of potential oil spills on land and in marine environments
- Delivering cleaner energy products to consumers
In September 2016, Evok announced its first round of investments in five clean technology solutions:
These ventures address an array of environmental and economic challenges in the energy industry, from wellhead to wheels, and include technologies for carbon capture and conversion, industrial efficiency and the treatment of oil sands process water.