Methane accounts for 43% of the oil and gas sector’s greenhouse gas (GHGs) emissions in Canada, but it’s also one of the lowest cost opportunities for reducing our emissions. The Canadian federal government has created the Emissions Reduction Fund – Onshore Program to help oil and/or gas sector companies reduce their methane emissions.
Eligible projects can receive up to $20M in repayable funding, with a portion to be potentially forgivable.
The goal of this program is to help transition Canada to a low-carbon economy by deploying green solutions, all while maintaining jobs.
Funding Snapshot: Emissions Reduction Fund
- Eligible applicants can receive up to $100,000 to $20,000,000 in repayable funding for up to 75% of costs of a project
- Program can be stacked with other funding programs to fund up to 90% of costs
- Multiple projects from one applicant can be approved (all projects must be submitted in one application)
- Loans must be paid back within five years after project completion date
All upstream and midstream oil and/or gas sector companies with projects to reduce or eliminate routine venting of methane-rich natural gas from conventional, tight, and shale oil and gas operations can apply.
Unlike many other Canadian government funding programs, the Emissions Reduction Fund – Onshore Program can approve multiple projects within one application from a business. In order to help eliminate the oil and gas sector’s GHGs, projects that eliminate emissions may be eligible to have a portion of the loan forgiven.
- If your project aims to reduce methane emissions, you may be eligible for a repayable loan.
- If your project aims to eliminate methane emissions, you man be eligible for a partially repayable loan.
- Deadline for applications is on November 30, 2020.
- Successful applicants will be contacted in Q1 of 2021.
Apply for the Emissions Reduction Fund
Application intake will open early November 2020 and run until the end of the month. If you are interested in applying for this program, consider reaching out to Mentor Works’ team of government grant and loan writers to find out if you’re eligible for this program and how we can work together on ensuring your application has the best chance of success.
Get notified about the latest government funding programs relevant to your business as they are announced by subscribing to the Mentor Works weekly funding update newsletter.