Open
Source change captured:
Canada Growth Fund (CGF)
Independent Canadian investment fund for emissions reduction
Deadline
Open continuously
Location
Canada
Who can apply
Canadian clean technology companies, including small and medium enterprises, scaling less mature but proven technologies in the demonstration or commercialization stages of development.
See full eligibility
Overview
Canada Growth Fund (CGF) is a $15 billion independent investment fund designed to catalyze substantial private sector investment in Canadian businesses and projects to grow Canada’s economy while reducing emissions. Eligible activities include investments (equity, debt, and hybrid instruments) and Contracts such as offtake contracts and contracts for difference that address demand, market price, and policy risk across Projects, Clean Technology, and Low-Carbon Supply Chains.
/100
Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Increase performance through digital transformation
- Improve governance or administrative structure
- Develop strategic partnerships
Eligible Funding
- Varies by project
Funds Providers
Eligible candidates
Eligible Industries
- All industries
Location
- Canada
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- All groups
Next Steps
1
Determine your project
Availability timeline
2026
Periods: 1
Activities funded
- Projects that use technologies and processes proven in pilots but not yet widely adopted to efficiently reduce emissions across the Canadian economy, including CCS, electrification and low-carbon electricity, hydrogen and biofuels.
- Clean technology companies, including small and medium enterprises, scaling less mature but proven technologies in the demonstration or commercialization stages of development.
- Projects, companies, and technologies across low-carbon supply chains, including critical minerals.
Sources and recorded changes
- Source change captured
- Change recorded
- Record updated
A captured source change or record update does not confirm eligibility. Check the funder’s current rules before applying.
CGF investment focus updated
Canada Growth Fund updated its investment strategy to explicitly include nuclear as an example of low-carbon electricity, expand low-carbon supply chain language, and clarify that it may invest through projects, companies, and external-manager funds.
The Investment Strategy page now explicitly names nuclear as an example of low-carbon electricity, and it adds adjacent infrastructure to the low-carbon supply chain description. It also clarifies that CGF may invest in projects, companies, and investment funds managed by external investment managers. A newly available fund presentation also shows $5.77B in total CGF commitments, with $3.72B in Projects, $1.11B in Clean Technology, and $990M in Low-Carbon Supply Chain.
Eligibility
Who is eligible?
- Canadian clean technology companies, including small and medium enterprises, scaling less mature but proven technologies in the demonstration or commercialization stages of development.
- Projects that use technologies and processes that have been proven in pilots but not yet widely adopted to efficiently reduce emissions across the Canadian economy.
- Projects, companies, and technologies across low-carbon supply chains, including critical minerals.
Who is not eligible
- Organizations seeking research & development (R&D), demonstration, or pilot-stage project funding.
- Early-stage start-ups looking for venture capital–style investments.
- Mature companies or projects using mature technologies that can typically attract sufficient private sector investment on market terms.
- Government-owned projects.
- Applicants expecting a grant or contribution program (CGF is an investment fund using instruments such as equity, debt, hybrids, and contracts).
Eligible expenses
- Capital expenditures (CAPEX) required for the construction or expansion of a project or facility (financed through equity, debt or hybrid instruments).
- Working capital required during the start-up (ramp-up) period of a project.
- Transaction costs and third-party advisory fees related to the structuring and execution of an investment.
- External management fees related to commitments in funds managed by external managers.
Eligible geographic areas
- Canada
Selection criteria
- Mandate alignment: the investment will advance the CGF Mandate and Strategic Objectives.
- Long-term benefits for Canada: the investment has a reasonable chance to strengthen the development of Canadian workers and generate knowledge that will produce long-term benefits for the Canadian economy.
- Additionality: the investment may attract private sector investment, immediately or in the future, that would likely not have been secured without the participation of CGF.
- Financial soundness: the investment will fit within a portfolio that will assist CGF in meeting internationally recognized standards of sustainability-related measurement, disclosure, and performance.
How to apply
- Submit an investment opportunity through the Contact page.
Processing and Agreement
- Sourcing uses dual-track sourcing through active outreach and public email for inbound proposals.
- Screening starts with a pre-clearance memo to align deals with the CGF Mandate.
- CGFIM drafts an initial investment recommendation detailing key merits and risks.
- CGFIM secures internal approvals and then performs full due diligence.
- CGFIM finalizes the investment structure, prepares a full investment recommendation, and seeks IRIC approval.
- After final approval, the transaction is funded and closed, and CGFIM monitors the asset post-close.
Additional information
- Canada Growth Fund Inc. is a $15 billion independent investment fund, operating at arm’s length from the Government of Canada.
- Canada Growth Fund Investment Management Inc. (CGFIM), a wholly-owned subsidiary of Public Sector Pension Investment Board, acts as the exclusive, arm’s length and independent investment manager of CGF.
Contacts
Frequently Asked Questions about the Canada Growth Fund (CGF) Program
What is the Canada Growth Fund (CGF)?
Canada Growth Fund (CGF) is a $15 billion independent investment fund designed to catalyze substantial private sector investment in Canadian businesses and projects to grow Canada’s economy while reducing emissions. Eligible activities include investments (equity, debt, and hybrid instruments) and Contracts such as offtake contracts and contracts for difference that address demand, market price, and policy risk across Projects, Clean Technology, and Low-Carbon Supply Chains.
What is the deadline to apply?
The program is accepting continuous intake
Who is eligible for the Canada Growth Fund (CGF) program?
To be eligible for the Canada Growth Fund (CGF) program, you must:
Projects that use technologies and processes proven in pilots but not yet widely adopted.
Clean technology companies, including small and medium enterprises, scaling proven technologies in the demonstration or commercialization stage.
Projects, companies, and technologies across low-carbon supply chains, including critical minerals.
What expenses are eligible under Canada Growth Fund (CGF)?
Capital expenditures (CAPEX) required for the construction or expansion of a project or facility (financed through equity, debt or hybrid instruments).
Working capital required during the start-up (ramp-up) period of a project.
Transaction costs and third-party advisory fees related to the structuring and execution of an investment.
External management fees related to commitments in funds managed by external managers.
Who can I contact for more information about the Canada Growth Fund (CGF)?
You can contact Canada Growth Fund (CGF) by email at infoCGF@cgf-fcc.ca.
Where is the Canada Growth Fund (CGF) available?
The Canada Growth Fund (CGF) program is available across Canada.
Is the Canada Growth Fund (CGF) a grant, loan, or tax credit?
Canada Growth Fund (CGF) is a Loans and Capital investments