$25.8 million Low Carbon Innovation Fund aims to help commercialize technologies that reduce greenhouse emissions.

Rezi Moridi, Ontario Ministry of Research Innovation and Science.

Until September 22, Ontario will accept initial applications for funding from the Low Carbon Innovation Fund. The fund is designed to 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,” according to Ontario’s Ministry of Research, Innovation and Science. Reza Moridi, Ontario’s Minister of Research, Innovation and Science explains the mission:

“Research and innovation are critical to addressing the global challenge of climate change. The Low Carbon Innovation Fund will help our innovators advance their concepts, create jobs and lead to a cleaner, healthier environment and a better quality of life for Ontario families and people around the world.”

 

 

Ontario’s “clean tech sector” brings in $8 Billion in revenue

Daiene Vernile, Parliamentary Assistant to the Minister of Research, Innovation and Science.

The green tech sector, made up of 3,000 companies — currently employing 65,000 employees — brings in $8  Billion in revenue, and is one of the fastest growing. In part, this is because Ontario’s strategy to fulfil the “Climate Change Action Plan” is to slash greenhouse gas emissions 15 percent below 1990 levels — by 2020. The ongoing goals, then include a 37 percent reduction by 2030 and 80 percent by 2050. The Low Carbon Innovative Fund will help support those goals. According to Daiene Vernile, Parliamentary Assistant to the Minister of Research, Innovation and Science:

“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.”

 

 

Two streams of funding: demonstration and validation

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.
Chris Ballard, Ontario’s Minister of Environment and Climate Change.

To be eligible for funding, the new “technology” must address a specific Green House Gas reduction need and show improvements over current solutions. The program is part of the Climate Change Action Plan and also Ontario’s Cap and Trade Program, which helps pay for the fund.

Chris Ballard, Ontario Minister of Environment and Climate Change, explains, “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. This will ensure Ontario companies develop homegrown solutions to reduce greenhouse gas emissions and help the province transition to a prosperous, low-carbon economy.”

 

Did you miss this?

Other Popular Stories

  • Consumer spending drives strong GDP growth in second quarter
  • Bruce Power nuclear deal good for Ontario manufacturers: CME
  • Canadian cleantech sector strong in research, innovation, but weak in commercialization
  • New super batteries could change electric vehicle industry
  • "Fireworks" in Canada's economy as GDP rises 2.3 per cent in January
  • May manufacturing sales higher on petroleum, cars
  • With $390 billion in trade at stake, Premier Ford met with manufacturing trade partners; says steel and aluminum tariffs hurt the U.S. more than Canada
  • June a very good month for manufacturers
  • First LNG-powered ferry to begin service in Quebec
  • Manufacturing grew in August; oil industry to lose $2.1 billion in 2015
  • Héroux-Devtek subsidiary to provide landing gear for Boeing 777
  • Overheated bearings, gearboxes among causes of wind turbine fires
  • CAE announces new flight simulator sales, higher profits
  • Bombardier to test fly CS300; equity offering increased
  • More consultation, less domestic content for Ontario's green energy process
  • Manufacturing recovers ground in January: GDP up 0.2 per cent
  • Petronas deal could get LNG moving in Canada
  • Bombardier promises to deal with Toronto's streetcars, while CSeries sales take off
  • Solar-powered nanoheaters offer solution for off-grid medical sterilization
  • Canada's economy grew in Q4, manufacturing up in December
Scroll to Top