Teck Secures $10 Mln From CleanBC Industry Fund

(RTTNews) - Teck Resources Limited (TECK) announced on Wednesday that it has received $10 million from the British Columbia government's CleanBC Industry Fund for the advancement of its Carbon Capture Utilization and Storage (CCUS) pilot project.

The company revealed that the CCUS pilot plant is under construction and that the CleanBC funding will advance the assessment of viable options for carbon utilization of the captured carbon dioxide from Trail Operations.

The company expects the CCUS pilot project to reduce the carbon intensity of operations by 33% by 2030 and become a net zero operator by 2050.

The CCUS pilot is expected to begin operations late this year.