NBIF is excited to announce the Corporate CleanTech Innovation Fund. The goal of this Fund is to support development and implementation of CleanTech at New Brunswick companies and help companies and/or their customers reduce greenhouse gases (GHGs) emissions or improve environmental outcomes.
Our Approach
NBIF is partnering with Opportunities New Brunswick to offer the Corporate CleanTech Innovation Fund for Fiscal Year (FY) 2025. This program offers up to $160,000 of non-repayable funds to support CleanTech innovation at New Brunswick companies. The funds will support project for the development, scale-up, and implementation of innovative technologies with the potential to reduce emissions or improve sustainability. The goal of the program is 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.
Corporate Cleantech Innovation Funding Stream Summary
| Validation Grant | Scale Up Grant | |
| Maximum Grant | $60,000 | $160,000 |
| Company contribution | 20% ($15K for a $60K grant) | 100% (requires an equal match from other sources) |
| Expected environmental impact | Define benefits qualitatively in application. Quantitative benefits can be described broadly or with some degree of uncertainty. | Define benefits both qualitatively and quantitatively. Quantitative metrics must be supported by data (e.g. from small scale experimentation) and show projections for implementation. |
| Project duration | 8-12 months | 12-18 months |
| Types of projects | Evaluation of GHG reduction metrics, technoeconomic assessments, prototyping. | Building or installing equipment or infrastructure, precommercial trials, development work with a strategic partner. |
The funds are non-dilutive grants made to the corporation. Companies must contribute 20% of the grant value for Validation grants and 100% of the grant value for Scale Up stream grants.
The program is open to New Brunswick-based small and medium-sized businesses (<500 employees). Business should either be incorporated in New Brunswick or have significant operational presence.
Companies should have demonstrated revenue in the previous fiscal year.
Eligible expenses include:
Wages for allocating employees to the project
• Contract work including temporary employees or consultants
• Third-party testing
• Materials, supplies
• Equipment and infrastructure (up to 50%) cost
A detailed report on project outcomes, including milestones set out in the proposal, use of funds, and commercialization progress is required at the conclusion of the project.
Applications may be submitted to either the Validation stream or the Scale Up stream. Validation submissions do not require detailed quantitative data on the innovation’s environmental benefits and have a maximum value of $60,000. Scale Up stream grants require quantitative evidence (e.g., experimental data, or data from prior projects) showing environmental benefits. These grants have a maximum value of $160,000.
The applications are evaluated in a competitive process led by NBIF and innovation ecosystem leaders.
The program consists of two rounds of application submissions:
• Round 1: Portal Opens October 14. Applications accepted until November 29, 2024
• Round 2: Portal Opens January 13. Applications accepted until February 28, 2025
Contact us at programs@nbif.ca.