The Government of Ontario has announced a new fund to support cleantech projects, in concept and commercialization, that reduce greenhouse gas emissions (GHG).
The Low Carbon Innovation Fund (LCIF) will support emerging, innovative technologies in areas such as alternative energy generation and conservation, new biofuels or bioproducts, next-generation transportation or novel carbon capture and usage technologies. Successful technologies will need to show significant potential to reduce greenhouse gas emissions in Ontario. This initiative is part of Ontario’s Climate Change Action Plan and is funded by proceeds from the province’s carbon market.
“The Low Carbon Innovation Fund challenges local innovators to tackle greenhouse gas emissions – which is great for our province’s economy. Working together to develop creative solutions will help us fight climate change while preparing industries to thrive in a competitive, low-carbon economy,” said Daiene Vernile, Parliamentary Assistant to Reza Moridi, Minister of Research, Innovation and Science, yesterday at the announcement in Kitchener.
As described by the Environmental Commissioner of Ontario’s report, Every Drop Counts, water and wastewater systems account for 38 per cent of municipal energy consumption. The report also outlines the many opportunities that exist for innovative technologies that can harness waste products and GHGs created through water systems and reuse them for better environmental service.
The fund includes two streams:
- The Technology Demonstration stream will support the development and commercialization of innovative low carbon technologies through testing in real-world settings. Self-assessments and Expressions of Interest for the Technology Demonstration stream are due September 22, 2017.
- The Technology Validation stream will fund proof of concept or prototype projects from eligible Ontario companies or academic organizations. This earlier-stage funding is expected to seed game-changing technologies and help them get to market faster. Applications for the Technology Validation stream will open in fall 2017.
“By investing proceeds from Ontario’s carbon market into innovative initiatives such as the Low Carbon Innovation Fund, our government is helping accelerate the growth of Ontario’s thriving clean tech sector,” said Ontario’s new Minister of the Environment and Climate Change. “This will ensure Ontario companies develop homegrown solutions to reduce greenhouse gas emissions and help the province transition to a prosperous, low-carbon economy.”
Projects eligible for funding include new GHG reduction technology that addresses a specific need, and projects that show a significant improvement to an existing GHG reduction technology solution. The LCIF has $25.8 million in funding available for projects.