Business Roundup
May 22, 2026

Economic development

• The province has committed $21 million to the University of Alberta's DEFENDS initiative, which aims to connect researchers, businesses, and the Canadian Armed Forces on dual-use technology. The university said the investment is meant to build a provincewide defence innovation network anchored in part by Edmonton's manufacturing base and Canadian Forces Base Edmonton.
• Alberta is anticipating significant developments in AI data centres by 2026, with plans for major infrastructure expansion expected in the coming months. At the Upper Bound AI conference in Edmonton, Technology and Innovation Minister Nate Glubish and Beacon Data Centers CEO David Lane highlighted potential investments and projects that could elevate Alberta to Canada's "compute capital." Two European companies aim to invest over $1.2 billion in four data centres, while Alberta aims to attract $100 billion in five years. Concerns include jobs, water usage, and power, with requirements for self-sufficient energy generation.
• Keyera, AltaGas, and CN Rail are planning a $240-million rail terminal project in Fort Saskatchewan to move about 45,000 barrels a day of propane and butane to West Coast export facilities. The companies said the terminal is expected to enter service in mid-2028. On May 12, Keyera completed its $5.3-billion acquisition of the Canadian natural gas liquids business of Plains All American Pipeline, merging two of the three NGL processors. The federal Competition Bureau has applied to challenge the deal.
• Justin Riemer from Emissions Reduction Alberta and Nir Katchinskiy of PulseMedica have joined the board of Edmonton Unlimited.
• Edmonton city council's executive committee unanimously approved Mayor Andrew Knack's motion asking for a report to assess options for technology adoption and innovation in the City of Edmonton's procurement practices, with the report due in the fourth quarter of this year. Zack Storms of the Built World Tech program at Edmonton Unlimited welcomed the motion. "This is an opportunity for the City's $1.5B annual procurement spend to incentivize contractors, consultants, and project teams to trial emerging technologies on public projects," wrote Storms, who is married to Coun. Keren Tang, a member of the executive committee.
• Edmonton's $3.8-billion investment portfolio outperformed benchmarks over one, four, and 10 years in 2025, according to the City's annual Investment Committee Report. The Ed Tel Endowment Fund paid $48 million in dividends to the city last year and reached an all-time high valuation of $1.2 billion.
• The recent energy agreement between Premier Danielle Smith and Prime Minister Mark Carney is heading in the right direction, but policy gaps remain that are preventing investment in the kind of carbon capture projects that Varme Energy is trying to build, the company wrote in a letter to the federal government. "We must fix carbon pricing and incentives, and flow capital to build major carbon capture assets like Varme's shovel ready Heartland Waste to Energy with Carbon Capture project," the company said, urging both levels of government to meet with the bio-CCS sector to improve carbon economics.
• The Alberta government posted a job opening for a new Edmonton-based music commissioner to lead implementation of the Alberta Music Action Plan and coordinate with industry and government partners.
• Fort Edmonton Park cut admission by 10% this season, and Taste of Edmonton renewed a discount pass with KDays and the Great Outdoors Comedy Festival, as local attractions tried to respond to affordability pressure. Edmonton Chamber of Commerce CEO Doug Griffiths told CTV that rising living costs are squeezing both consumers and businesses.

Startups and SMBs

• Cole Christianson of Pulmvita, Tanay Kumar of Aqtiva, Anthony Ness of AIR BioSolutions, and Soroush Mirkiani of RISE NeuroProsthetics are the latest recipients of the Innovation Catalyst Grant at the University of Alberta. They will each receive up to $250,000 over two years to commercialize science-based products or services.
• The Top 5 selected for the finale of Startup TNT's Edmonton investment summit are Fairly Staffing, RNARevive, hi finance, Innovative Coating Technology Systems, and T.rex AI. The finale takes place on May 28.
• AIRMarket is part of an effort to build a 1,500-kilometre drone corridor across nine communities and two aerodromes in northern Alberta. The Alberta HUB Skyways project is meant to make it easier for drones to fly and potentially deliver cargo in remote areas. "We're working with (regulators) to say, 'Here's the framework that can be actually delivered and used,'" AIRMarket CEO Lindsay Mohr told Be Giant, noting that he expects to make significant progress in 2026. "We'll have multiple agencies flying."
• RUNWITHIT Synthetics has been accepted into the inaugural MaRS Adaptech Accelerator to further its work on climate change adaptation.
• Teemik Immigration Consulting and KB Moving Rentals are among the businesses that have been helped by the Indigenous Youth Entrepreneur Program at the Alberta Indian Investment Corporation. The program offers microloans of up to $25,000 for entrepreneurs ages 18 to 39, with up to 45% available as a non-repayable contribution.
• Agereh Technologies, an AI-enabled transportation and logistics company, has joined the Canadian Association of Defence and Security Industries after presenting at the Alberta Aviation, Aerospace and Defence's May summit.
• The Growlery has closed The Den, its downtown pub across the street from Rogers Place. Despite a $212,000 grant and marketing support provided by the Edmonton Downtown Business Association, the "location has become unsustainable, and we need to focus on the brewery as a whole," the owners posted.
• New Asian Village is celebrating 40 years in business. The Kapur family started by offering north Indian cuisine, but expanded to offer south Indian, Chinese, and tandoori flavours.
• DON'YA Ukraine's Kitchen co-founder Janice Krissa detailed how the business has shifted its approach after taking part in the Venturepark mentorship program by Arlene Dickinson, one of the investors on Dragons' Den to whom Krissa pitched last year.
• Shaffina Mohamed of Jetco Heavy Duty Lighting shared the story of her journey from medical professional to leader of the family business on the Executive Wins podcast.
• Lauren Kyle McDavid spoke to Daily Hive about her portfolio of Edmonton businesses that includes interior design, hospitality, furniture, and sports fashion. She said Sports Club Atelier grew from jackets she first made for the partners of Oilers players.

Real estate

• Alberta Real Estate Association data cited by Daily Hive showed Edmonton had an 11.2% year-over-year drop in home sales in April, one of the largest declines in the province.
• Starter homes remain within reach in Edmonton compared to other markets, though many first-time buyers have shifted to row homes, duplexes, or condos as detached-home prices stayed higher, Postmedia reported. "There are still quality areas where you can purchase a solid single-family home under $500,000," said Darlene Reid, chair of the REALTORS Association of Edmonton.
• Episode 356 of Speaking Municipally took a closer look at what was shared at the Edmonton Real Estate Forum on May 13, as well as Mayor Andrew Knack's first State of the City address.

More headlines

• Stantec's shares fell as investors reassessed the growth outlook for engineering firms amid AI concerns, noted The Globe and Mail. "The fear is that AI will be able to cheaply, and easily, perform tasks that consultants currently charge hefty fees for," wrote Tim Kiladze. "That fear started spreading about six months ago. Since then, Stantec's shares are down 23.7%."
• Innovotech has received up to $234,000 from the National Research Council Industrial Research Assistance Program to develop antimicrobial testing services for medical devices. In a separate Q1 update, it reported revenue of $648,140 and a net loss of $401,295.
• Stephanie Enders of the Alberta Machine Intelligence Institute has joined Venture for Canada's inaugural AI Advisory Council, which is focused on helping young professionals and businesses adapt to AI.
• John Walker resigned as a director of McCoy Global, citing personal reasons. "While we respect his decision to step away at this time to focus on personal matters, we are grateful for his contributions and retain a high regard for his continued association with McCoy," chair Terry Freeman said in a news release.
• The Alberta iGaming Corporation named Dan Keene its permanent CEO ahead of the July 13 launch of Alberta's regulated private iGaming market. Keene previously led gaming at Alberta Gaming, Liquor and Cannabis.
• The Atiq Family Foundation has created two scholarships at the University of Alberta in honour of entrepreneur Fred Atiq. The awards will support equity-deserving students with financial need.
• A Globe and Mail investigation found that Invest Alberta board member Sam Jaber has been calling himself a CPA or a certified public accountant even though he doesn't belong to CPA Alberta. He has also served as chief financial officer of MHCare Medical Corp., which has been embroiled in controversy over procurement and alleged conflicts of interest. An HR publication noted the issue underscores the rigor required in the profession.

Happenings

Here are some events coming up over the next seven days:

• May 22: Coffee with the Chamber starting at 8:30am at Sawmill Prime Rib & Steakhouse
• May 22: MLA Ministers Fireside Chat: Shaping Alberta's Economic Future starting at 9:30am at Dow Centennial Centre
• May 24: Ladies off the Green starting at 11am at Epcor Tower
• May 25: Insights and Perspective on Alberta Politics starting at 11:30am at the World Trade Centre Edmonton
• May 26: Metal and Manufacturing EXPO starting at 9am at River Cree Resort and Casino
• May 26: ERIN Community Initiatives Session #3 starting at 12pm online
• May 27: In The Loop: A Social Innovation Mixer for Edmonton's Circular Economy starting at 4:30pm at Brighton Block
• May 27: Alberta Women Entrepreneurs Connect Event starting at 7pm at Heavy Metal Place
• May 27-28: CIC Forum: Built by People, Powered by Technology at University of Alberta
• May 28-29: HSAA's 2026 Convention at Edmonton Convention Centre
• May 28-29: Power Up Leadership Summit at Edmonton Chamber of Commerce
• May 29: Alberta Manufacturing in a Tariff-Changed World starting at 9am

And here are some upcoming events to keep in mind:

• June 4: Voices of Alberta Entrepreneurs with Aaron Tong online
• June 8: The Relationship Between the Board Chair & CEO at Stantec Tower Ice District
• June 17: Business@Lunch at St. Albert Curling Club

Visit the Taproot Edmonton Calendar for many more events in the Edmonton region.