How much funding can be received?

The Corporate CleanTech Innovation Fund offers New Brunswick companies up to $160,000 in non-repayable funds to support the development, scale-up, and implementation of CleanTech innovations aimed at reducing greenhouse gas emissions or improving environmental outcomes. Eligible activities include employee wages, contract work, third-party testing, materials, supplies, and equipment or infrastructure costs.

Financing terms and conditions

The Corporate CleanTech Innovation Fund provides structured financial support to accelerate CleanTech advancements in New Brunswick. Funding is designed to align with the developmental stages and environmental impacts of the projects.

Non-dilutive funding ranging from $60,000 for Validation Grants to $160,000 for Scale Up Grants.
Company contributions of 20% for Validation Grants and matching 100% for Scale Up Grants.
Grants for Scale Up stream require quantitative evidence of environmental benefits supported by data.

Eligible projects & activities

This fund is dedicated to enabling New Brunswick companies to enhance their CleanTech capacities by reducing greenhouse gases and improving environmental outcomes through technology. Eligible activities vary from technology validation to large-scale implementation.

Evaluation of greenhouse gas (GHG) reduction metrics using advanced prototyping and techno-economic assessments.
Development work with strategic partners to optimize CleanTech solutions for better sustainability.
Building or installing essential equipment or infrastructure aimed at supporting CleanTech projects.
Conducting precommercial trials to test and refine CleanTech innovations before full-scale market introduction.

Examples of admissible projects:

$ 20,000

Developing a digital health app for elderly care

$ 30,000

Launching an online educational platform for youth

$ 15,000

Launching an organic food cooperative market

$ 50,000

Establishing a microbrewery with sustainability focus

$ 25,000

Creating a sustainable fashion line using recycled materials

$ 12,000

Developing community workshops for mental health awareness

Eligibility criteria of the NBIF — Corporate Cleantech Innovation Fund program

Eligibility for this grant is determined by specific requirements related to the company's profile and activities.

The company must be a New Brunswick-based small or medium-sized business with fewer than 500 employees.
The company should either be incorporated in New Brunswick or have a significant operational presence in the province.
The company must have demonstrated revenue in the previous fiscal year.

Who is eligible?

New Brunswick-based small and medium-sized businesses with less than 500 employees are eligible to apply. Businesses must either be incorporated in New Brunswick or have a significant operational presence there. Additionally, the business should have demonstrated revenue in the previous fiscal year.

Eligible expenses

The grant covers specific expenses directly related to the CleanTech innovation project.

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.

Eligible geographic areas

This grant is available exclusively to companies that are operating within specific regions in Canada. The eligible geographical areas focus on fostering innovation and technological advancements within New Brunswick.

Companies incorporated in New Brunswick.
Businesses with a significant operational presence in New Brunswick.

Eligibility criteria of the NBIF — Corporate Cleantech Innovation Fund program

The evaluation and selection of projects for the Corporate CleanTech Innovation Fund are based on specific criteria that assess the alignment of projects with the fund’s objectives, as well as their feasibility and potential impact.

Clarity and feasibility of the project plan, including detailed timelines and milestones.
Demonstrated innovation in CleanTech with potential to reduce GHG emissions or improve environmental outcomes.
Evidence-based projections of environmental benefits for Scale Up grants, corroborated by quantitative data and analysis.
Strategic alignment with NBIF’s and Opportunities New Brunswick’s goals of supporting CleanTech solutions for export or local implementation.
Scalability and potential for commercialization of the proposed technology or solution.
Financial plan detailing the allocation and utilization of grant funds, supplemented by additional funding sources for Scale Up grants.

How to apply to the NBIF — Corporate Cleantech Innovation Fund program

Contact NBIF

Reach out to the New Brunswick Innovation Foundation via email at programs@nbif.ca to express interest and get further information on the submission process.

Determine Appropriate Funding Stream

Evaluate your project to decide whether it should be submitted under the Validation stream or Scale Up stream.
Ensure your project aligns with the eligibility criteria and objectives of the chosen funding stream.

Prepare Application

Draft a detailed project proposal including objectives, expected outcomes, and environmental benefits.
For Scale Up stream, provide quantitative data supporting the environmental impacts with evidence from experiments or prior projects.
Prepare a budget and identify sources for matching funds if applying under the Scale Up stream.
Compile supporting documents such as evidence of company incorporation or operational presence in New Brunswick and project deliverables.

Submit Application

Access the application portal which opens on the specified dates for each round (October 14 for Round 1 and January 13 for Round 2).
Upload all required documents to the portal and complete the online forms.
Review the entire application for completeness and accuracy before the deadline of your chosen round (November 29, 2024, for Round 1 and February 28, 2025, for Round 2).

Receive Confirmation

Receive confirmation of your application submission, which may include an application reference number for tracking.
Ensure to retain any confirmation email or document for your records.

Additional information

Here are additional relevant details for this grant:

The program partners with Opportunities New Brunswick to offer the grants.
Projects must validate and de-risk technologies aimed at CleanTech solutions for export or internal use.
Quantitative metrics for the Scale Up stream must be backed by data from small-scale experimentation.
Funding is non-dilutive, meaning it does not require giving away equity in the company.
Companies must have demonstrated revenue in the previous fiscal year to be eligible.