The way we consume, produce and invest energy resources constantly evolves. Moreover, Canada's sustained commitment to reducing greenhouse gas (GHG) emissions by 40-45% from 2005 levels by 2030 and achieving net zero by 2050 has put unparalleled pressure on the nation's established energy sector to adopt new and emerging technologies to help the nation not only meet its own targets but align itself with the broader UN 2030 Sustainability Goals.
Many might view this pressure as a pain point for cities' energy-centric hubs like Calgary. However, the local ecosystem has responded positively, using the incoming policies as a platform for innovation. While many inventors have sought to create novel first-of-kind technologies to respond to the climate crisis, VL Energy has taken a more pragmatic solution to lower GHGs by creating a tangible and easily integrated emissions monitoring system. Through the application of digitization and artificial intelligence, VL Energy's proposed technology solutions will not only allow companies to have a greater understanding of what their emissions are but will eventually allow them to create expansive predictive models on how production parameters may influence future emissions and future qualifications for carbon credits.
What is unique about VL Energy is their founder Ling Bai's capacity to meet producers where they are. Moreover, her company's hallmark technology will help established energy players align themselves with current regulatory processes. It can easily be applied to emerging energy technologies and sectors where environmental, social, and corporate governance (ESG) metrics could impact investors' decisions.
This technology's immediate potential to support the energy sector prompted VL Energy to take up residence in Calgary's newly minted Energy Transition Centre. This $4.2 billion project will serve as a collision space between academics, innovators, and industry to create and adopt new technology like VL Energy is proposing.
By collocating itself with the established ecosystem giants, the Energy Transition Centre houses – such as the Clean Resource Innovation Network (CRIN), Avatar Innovations, and Innovate Calgary (amongst others) – VL Energy is demonstrating its sustained commitment to supporting not only the transition of the local energy sector but Calgary's local economy as well.
"Calgary has the biggest foundation for energy transition as one of the largest energy hubs. Emissions benchmarks and reduction strategies will be a significant component of this."
— Ling Bai, CEO of VL Energy
With Alberta's Technology Innovation and Emission Reduction (TIER) Regulation applying to more than 60% of emitters, the timeliness of this technology cannot be understated.