Canada’s Low Carbon Economy Fund (LCEF) was launched in March 2018 with up to $500 million to support projects that implement specific activities/technologies that have previously demonstrated effectiveness in reducing GHG emissions.
Provided through the Low Carbon Economy Fund, the Low Carbon Economy Challenge funds projects that generate environmentally friendly growth and greenhouse gas reduction. The Challenge offers funding via two streams: Champions and Partnerships.
While the Champions stream is currently closed, the Partnerships stream is open for its second intake, with a total of $10M available for Canadian SMEs.
Eligible projects are to focus on GHG mitigation. The Partnerships stream has an upcoming deadline of November 15, 2019.
About the Low Carbon Economy Challenge
The Low Carbon Economy Challenge seeks applicants to implement specific activities or technologies that have previously demonstrated effectiveness in reducing GHG emissions. Currently, only the Partnerships stream is open and accepting applications during its second intake.
Via the Partnerships stream, eligible costs are covered up to 25%, with a minimum of $20,000 to a maximum $250,000 in funding for GHG reduction.
Funding applications will be assessed based on the following impacts:
- Project feasibility and risk;
- Annual tonnes of GHG emissions reduced by 2030 per federal dollar invested;
- Cumulative GHG emissions reduced over the lifetime of the impact per federal dollar invested; and
- Other co-benefits, such as contributions to Canada’s environmental, economic, and social goals.
Eligible Applicants: Low Carbon Economy Challenge
The Low Carbon Economy Challenge Partnerships stream is open to for-profit, established small and medium (SME) businesses in Canada with 1-499 employees.
Eligible Projects: Low Carbon Economy Challenge
Projects eligible for Canadian government funding under the Low Carbon Economy Challenge Partnerships stream are to account for greenhouse gas (GHG) mitigation after implementation and should be completed by March 31, 2024. Projects may take place within (but are not limited to) the following sectors:
- Building energy efficiency and fuel switching;
- Electricity and/or energy production; and
- Low-emissions fuel production.
Technologies adopted must have a Technology Readiness Level (TRL) of at least 8 to receive Canadian government funding.
Eligible Costs for the Partnerships Stream
The Partnerships stream allows for the following to be considered eligible costs for cleantech funding.
- Equipment and capital investment costs;
- Materials and supplies;
- Staff salaries;
- Vehicle rental and operation;
- Project management and professional services costs; and
- Contractor fees.
Apply for the Low Carbon Economy Challenge Partnerships Stream
The Low Carbon Economy Challenge Partnerships stream is open and accepting applications under its second intake. The deadline is November 15, 2019. Accepted applicants will be notified in early 2020.
To learn more about the program and discuss if your upcoming project is positioned to succeed, please contact Mentor Works. We can also help optimize the application and reporting process.