ecoAgriculture Biofuels Capital Initiative 2012 Deadline Extended
The deadline for Agriculture and Agri-Food Canada’s business funding grants towards the construction or expansion of biofuels facilities, has been extended to September 30th, 2012. ecoAgriculture Biofuels Capital Initiative (ecoABC) now has an extended deadline to allow eligible projects to secure the necessary financing and complete construction.
Government Funding For Business in Agriculture Industry
This government funding initiative is a Federal $200 million four year program that provides repayable contributions for the construction or expansion of transportation biofuel production facilities. The ecoABC Initiative is delivered nationally by Agriculture and Agri-Food Canada and its goal is to provide an opportunity for agricultural producers to diversify their economic base and participate in the biofuels industry through equity investment/ownership in biofuels production facilities.
Available Funding for Small Business
The ecoABC Initiative provides repayable contributions of up to $25 million per project. This government funding for small business is provided for eligible projects that use agricultural feedstocks to product biofuels and that have new agricultural producer equity investments in the projects equal to, at minimum, five percent of the total eligible project costs.
To be eligible for this government funding for business, you need to:
- Build the facility in Canada
- Supply at least 5% of the costs of the project
- Keep the factory for at least two years after construction is done and biofuel is being produced
- Get an environmental assessment
- Use plant material to make fuel
- Produce at least three to five million litres of fuel per year
- Must repay this money
Next Steps for Ontario Government Funding
If you are interested in learning more about government funding tools and opportunities, please contact Bernadeen McLeod, the Canadian Government Funding Expert. For current updates on other small business government funding options, sign-up for a Free 60 Minute Workshop or follow us on Twitter.