Regina's IPAC-CO2 to close March 31

A Regina carbon capture agency that's been at the centre of some heated debates in the legislature lately is winding down after five years.

A Regina carbon capture agency that's been at the centre of some heated debates in the legislature lately is winding down after five years.

As of March 31, IPAC-CO2 will close its doors, company officials confirmed Thursday.

Last  month, CBC News did a series of  stories about conflict of interest and alleged waste of money during a time when the agency was in its startup phase.

In the legislature, Opposition MLAs have argued that the government has been asleep at the switch while the government says it has been open and above-board about problems at IPAC-CO2, which stands for the International Performance Assessment Centre for the Geologic Storage of carbon dioxide.

The organization was set up at the University of Regina in 2008 to create international standards for carbon capture and storage — a process that's a key part of Premier Brad Wall's climate change policy.

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IPAC's budget —up to $14 million — came from Royal Dutch Shell Canada and the federal and provincial governments, and was to last five years.  

That time has elapsed and those organizations are not renewing their commitments. 

IPAC's CEO Carmen Dybwad said the company has been well run the last few years and despite all the troubles, it was able to create standards for the capture and storage of CO2 which should serve the industry for years to come.