In support of New Brunswick’s transition to a green economy as described in the province Climate Action Plan, NBIF is partnering with Opportunities New Brunswick to support cleantech innovation at NB corporations. NBIF is offering non-repayable grants of up to $160,000 to support the development, scale-up, and implementation of innovative technologies with the potential to reduce industry emissions or improve sustainability. Innovation that improves the environmental impact of industry is increasingly important as businesses compete in a global economy shifting to cleaner energy and to lower-emissions technologies. This fund is intended to help companies validate and de-risk innovative technologies that are being developed as cleantech solutions for export or for companies to trial and implement in their own operations.
What Types of Projects?
Innovative: Projects supported by this fund must feature an innovative component. This includes either developing or implementing a new technology or using an existing technology or approach in a new way. Projects should not be for implementing an off-the-shelf solution.
Address a gap in development: Applicants should show that there is a need to address a gap in technical development for the innovation to be used in their business. Projects supported should be technology readiness level 4 or higher and focus on increasing scale or demonstration for specific use-cases.
Aligns with cleantech: The technology clearly falls under federal definition of cleantech (Clean Technology Data Strategy (canada.ca)). Applicants must show how their innovation will reduce emissions or have tangible environmental benefit.
The program is structured to support both proof-of-principal projects and demonstration and scale-up projects. These are offered through two streams of the program. The table below summarizes maximum grant size and the contribution amounts from each company. Company contributions can be from other granting agencies (e.g., IRAP etc.), company funds or a combination. Proof of contributions is required prior to NBIF disbursing funds.
| Proof-of-Principle Grant | Demonstration Grant | |
|---|---|---|
| Maximum NBIF contribution | $60K | $160K |
| Company contribution | 25% ($15K for a 60K grant) | 100% (requires an equal match from other sources) |
| Expected environmental impact | Environmental impact can be described broadly or with some degree of uncertainty. Project intended to validate impacts. | Quantitative metrics must be supported by data or previous trials and show projections for implementation. |
| Project duration | 8-12 months | 12-18 months |
| Types of projects | Evaluation of GHG reduction metrics, feasibility studies for new technology, prototyping. | Developing infrastructure, precommercial trials, projects with a strategic partner. |
These programs are offered exclusively to companies that:
• Are SMEs based in New Brunswick-either headquartered or with significant operating presence in province.
• Developing innovative cleantech (new technology or new use of technology)- either as a solution to be offered for sale or for implementation within their operation.
• Demonstrated revenue in FY2023-2024
Interested researchers should reach out to NBIF with questions about project eligibility and focus. The program manager is Paul Thornton, paul.thornton@nbif.ca.
The financing on approved projects:
• Is a non-repayable grant
• Eligible expenses include personnel costs, costs for third-party testing and technical work, IP protection, market research in support of commercial implementation, or infrastructure/equipment costs (up to 50% of grant)
• Requires reporting on use of funds at conclusion of the project
Submit applications via the NBIF Application portal. Once the application is submitted, NBIF will evaluate applications in accordance with program/internal guidelines and evaluation criteria. Successful applicants will be notified with an award letter with funds being disbursed after completion of a funding contract between NBIF and the corporation.
Program will run while funds are available. Applications must be submitted via the NBIF Portal: https://nbif-finb.smapply.io/
- Round 1: Portal Opens Sept. 4, 2024; Applications accepted until Oct. 28, 2024.
- Round 2: Portal Opens Nov. 18, 2024; Applications accepted until Jan. 24, 2025.
The project can start immediately after the funds are received. Projects should be 2 years or less in duration. Reporting will be due after the first 12 months (an interim status report) and after project completion (final status report). A maximum 6-month extension is possible with written approval from NBIF.