RDP and SVG Ventures|THRIVE sign MOU to support innovation

A new agreement signed by Red Deer Polytechnic (RDP) and SVG Ventures|THRIVE will bring together entrepreneurs, industry experts, researchers and students to support economic growth and sustainability in Alberta at the intersection of the agriculture and energy sectors.

The synergy between agriculture and energy is a topic of increasing importance around the globe. Nowhere is this synergy more profound than in Alberta where these sectors are not only essential drivers of the provincial economy, but also take the lead on the international stage.

This memorandum confirms both parties’ mutual interest in working toward initiatives in central Alberta that bring awareness and build Alberta’s ag-energy innovation ecosystem for local and global impact; foster the start-up, scaleup and applied research community at this nexus; and increase competitiveness across central Alberta’s agriculture and energy industries through effective technology demonstration and adoption.

“We are building this relationship with Red Deer Polytechnic with a view to strengthen Alberta’s innovation ecosystem with a specific focus on technology-driven solutions to support the vital agriculture and energy sectors,” says John Hartnett, CEO, SVG Ventures|THRIVE. “Since establishing our Canadian operations in 2021, we’ve seen first-hand the innovations that are coming from Alberta and this partnership allows us to support the ecosystem in a broader way. By 2050, global food production will need to meet the needs of nearly 10 billion people. An increase in agriculture production will result in an increased demand for energy.”

A sustainable future requires managing resource scarcity, decreasing and upcycling waste, reducing environmental impact, upgrading our processing capabilities and distribution networks, and adopting best innovative practices and emerging technologies. The ag-energy nexus offers significant opportunity for innovation and collaboration across the public and private sectors to capitalize on the strengths of Alberta.

“We’re experiencing rising costs of production and distribution in both the ag and energy sectors, which is felt at all levels of the value chain,” says Stuart Cullum, President, Red Deer Polytechnic. “Working with SVG and its leading innovation and investment platform enables RDP to accelerate technology development and adoption. Our focus is on providing enhanced learning and applied research environments to grow the talent and innovation solutions needed for our energy and agriculture sectors to coordinate effectively and thrive.”