Ontario Supporting Projects to Reduce Greenhouse Gas
New Low Carbon Innovation Fund Now Open
Ontario is helping researchers, entrepreneurs and companies create and commercialize new, globally competitive, low-carbon technologies that will reduce greenhouse gas emissions (GHG) in the province.
Daiene Vernile, Parliamentary Assistant to Reza Moridi, Minister of Research, Innovation and Science, was in Kitchener today to make the announcement.
The Low Carbon Innovation Fund (LCIF) will support emerging, innovative technologies in areas such as alternative energy generation and conservation, new biofuels or bioproducts, next-generation transportation or novel carbon capture and usage technologies. Successful technologies will need to show significant potential to reduce greenhouse gas emissions in Ontario. This initiative is part of Ontario's Climate Change Action Plan and is funded by proceeds from the province's carbon market.
The fund includes two streams:
- The Technology Demonstration stream will support the development and commercialization of innovative low carbon technologies through testing in real-world settings. Self-assessments and Expressions of Interest for the Technology Demonstration stream are due September 22, 2017.
- The Technology Validation stream will fund proof of concept or prototype projects from eligible Ontario companies or academic organizations. This earlier-stage funding is expected to seed game-changing technologies and help them get to market faster. Applications for the Technology Validation stream will open in fall 2017.
Projects eligible for funding include new GHG reduction technology that addresses a specific need, and projects that show a significant improvement to an existing GHG reduction technology solution.
Supporting innovation while reducing greenhouse gas emissions is part of our plan to create jobs, grow our economy and help people in their everyday lives.
- $25.8 million has been allocated to the Low Carbon Innovation Fund.
- Eligible LCIF projects must be conducted in Ontario and have the potential to play a significant role in helping the province meet its GHG reduction targets as part of Ontario's Climate Change Action Plan.
- Ontario has the fastest growing clean tech sector in Canada, with $8 billion in revenue, 3,000 companies and 65,000 employees.
- The Climate Change Action Plan and carbon market form the backbone of Ontario's strategy to cut greenhouse gas pollution to 15 per cent below 1990 levels by 2020, 37 per cent by 2030 and 80 per cent by 2050. The government will report on the plan's implementation annually and review the plan at least every five years.
- Supporting clean tech innovation is part of Ontario’s five-year, $650-million Business Growth Initiative that is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale-up and modernizing regulations for businesses.
“Research and innovation are critical to addressing the global challenge of climate change. The Low Carbon Innovation Fund will help our innovators advance their concepts, create jobs and lead to a cleaner, healthier environment and a better quality of life for Ontario families and people around the world.”
“The Low Carbon Innovation Fund challenges local innovators to tackle greenhouse gas emissions – which is great for our province’s economy. Working together to develop creative solutions will help us fight climate change while preparing industries to thrive in a competitive, low-carbon economy.”
“By investing proceeds from Ontario’s carbon market into innovative initiatives such as the Low Carbon Innovation Fund, our government is helping accelerate the growth of Ontario’s thriving clean tech sector. This will ensure Ontario companies develop homegrown solutions to reduce greenhouse gas emissions and help the province transition to a prosperous, low-carbon economy.”