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A Calgary company hopes to start construction later this year on a $100-million demonstration plant in the Industrial Heartland that will make low-sulphur fuel for the shipping industry.

But Field Upgrading still needs to line up financing that could include up to $50 million in government investment before making a final decision to go ahead with its Clean Seas project, commercialization advisor Lisa Doig said Thursday.

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The Alberta government should indicate within about a month whether it will approve Field’s application for an initial $10 million, she said.

“It’s extremely critical because of the technology risk … A sign from government shows they’re behind it, and if your government is behind your project, private equity will step in,” she said.

“If we could get roughly 30 to 50 per cent of the project funding between the governments, however they work together, that would be helpful.”