Due to a decrease in emerging technologies there is a great barrier to market entry for many Canadian entrepreneurs, especially innovators that develop sustainable technologies. The NextGen Biofuels Fund program incorporates the same fundamental principles as the SD Tech Fund. SDTC is a foundation that received billions of dollars from the Government of Canada to help create healthy environments and increase the quality of life for Canadians. With this Canadian government funding program, SDTC’s aim is to increase companies project’s chances of success to market by helping to bridge high costs gap.
Canadian Government Funding Details
This $500 million funding for small business program is being provided by the Government of Canada and will be managed by Sustainable Development Technology Canada (SDTC). Every technology project considered for SDTC funding is subject to a multi-phased process.
The funding for small business supports up to 40% of eligible project costs and will not exceed $200M for the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels. The contribution will be repayable based on free cash flow over a period of 10 years after project completion.
This Canadian government funding program will:
- Facilitate the establishment of first-of-kind scale demonstration facilities for the production of next-generation biofuels and co-products in Canada
- Encourage retention and growth of technology expertise and innovation capacity for the production of next-generation biofuels in Canada
- Improve sustainable development impacts arising from the production and use of biofuels in Canada
Funding for Small Business Eligibility
Applicants are able to submit applications at any time during the year. To be eligible, a project must:
- Be located in Canada
- Be a first-of-kind facility that primarily produces a next-generation renewable fuel at large demonstration-scale
- Demonstrate their technology at the pre-commercial pilot scale
- Use feedstock’s that are or could be representative of Canadian biomass
Applying for Canadian Government Funding Programs
If you are interested in applying to the NextGen Bofuels Fund or other Canadian business funding options, contact one of our Canadian Government Funding Experts or Sign Up For A 60 Minute Workshop. In addition, connect with us on LinkedIn or subscribe to us on Google+ to receive the latest details on government funding options available to your business.