Investing in CleanTech Innovation: NBIF’s Climate Impact Fund

Paul Thornton, PhD

Innovation Partnerships Manager

 

The global climate crisis, while a pressing challenge, also presents a unique opportunity for innovation. As the world seeks sustainable solutions, there’s a growing demand for groundbreaking clean technologies. At NBIF we know that New Brunswick’s entrepreneurs and innovators can lead the way, developing and commercializing innovative CleanTech solutions to address the climate crisis and drive economic growth and create new markets.

The Climate Impact Fund: A Catalyst for Change

NBIF’s Climate Impact Fund is a partnership between NBIF and OpportunitiesNB. The $1.8M fund, which consists of 5 unique programs, to accelerate innovation in CleanTech and emissions reduction technologies in New Brunswick.

This strategic initiative contributes to the province’s economic growth and competitiveness by supporting New Brunswick’s startups and small and medium-sized enterprises through the transition to a low-carbon economy.

NBIF’s Commitment to Climate Innovation & Investment

Through the Climate Impact Fund, NBIF has been actively investing in and supporting New Brunswick’s Cleantech ecosystem since 2021. This year we’re expanding our efforts and leveraging our investment to attract more funding capital and innovation support for entrepreneurs and innovators: 

Early-Stage Investment: Early investment in New Brunswick growth startups is central to NBIF’s mission, and the Climate Impact Fund supports young companies that are commercializing CleanTech with potential for global impacts. Over $200K is allocated for investment for early-stage CleanTech companies, and for early-stage commercialization grants validating spinout opportunities from New Brunswick research institutions.

Corporate Innovation: The Climate Impact Fund also supports established companies in validating and scaling their CleanTech innovations. Nearly $700K is allocated to the Corporate Cleantech Innovation Fund to support companies developing innovative CleanTech solutions either as new products or solutions for export or for implementation in their own operations.

Strategic Partnerships: NBIF is excited to continue our collaboration with Net Zero Atlantic and announce a new partnership with Foresight Canada. By combining our deep understanding of the local landscape with the expertise and networks of our partners, we’re better equipped to support New Brunswick entrepreneurs in developing and commercializing innovative CleanTech solutions. These partnerships mean new programs available to eligible New Brunswick businesses and innovators. Check out our website for details.

Global Climate Crisis, Local Innovation Opportunity

Through the Climate Impact Fund, NBIF is addressing the challenges posed by climate change by reframing the work to be done as extraordinary opportunities for innovation, growth, and positive change.  We have the expertise in New Brunswick to build innovative solutions that address emissions head-on.

True to our mission, we’re actively driving innovation, fostering economic growth, and positioning New Brunswick as a leader in the global CleanTech revolution. By supporting local businesses and investing in cutting-edge technologies, we’re creating a more sustainable future for our province.

We’re excited to be part of accelerating New Brunswick’s transition to a green economy and to grow our province’s potential in a net-zero future. Stay tuned for program specific announcements and news on the Climate Impact Fund!