Electric Vehicle (EV) — Stream 2
Highlights
This program is designed for businesses like yours that are involved in developing and demonstrating electric vehicle (EV) and battery-focused technologies. By participating, you can receive up to $1,000,000 in co-investment to support your projects over a maximum of 24 months. This funding can help you advance your technology, validate your products, and bring innovative solutions to market.
Why apply?
- Significant financial support: Up to $1,000,000 in funding, matched by a minimum 2:1 contribution from you and/or your partners.
- Commercialization opportunities: Showcase your Ontario-made technologies to potential customers and partners.
- Collaborative R&D: Build relationships with researchers and other industry players to extend your company's R&D capabilities.
What's in it for you?
- Enhanced market position: Develop marketable solutions to current challenges and gain a competitive edge.
- Public/private partnerships: Collaborate with various stakeholders, including academic institutions and municipalities, to maximize commercial opportunities.
- Environmental impact: Contribute to reduced environmental and carbon footprints with innovative EV technologies.
Qualifying for this program is straightforward, and the support from an OCI Business Development Manager ensures you have guidance throughout the application process. This is a unique opportunity to scale your business and make a significant impact in the EV industry.
Financing Details
Type of Financing: Co-Investment
Repayment Terms and Interest Rates:
- No repayment terms or interest rates are applicable, as this is a co-investment.
Eligible Expenses:
- Development, testing, and validation of electric vehicle (EV) and battery-focused technologies.
- Projects related to mass light vehicles, heavy-duty vehicles, charging infrastructure, intelligent transportation systems, and transit-supportive systems and vehicles.
- Specific technologies such as light weighting, electrified powertrains, electric motors, transmission systems, battery management systems, EV batteries, battery materials, charging systems, EV fleet management technologies, hydrogen and alternative fuel cell EVs, and electric micro-mobility.
Ineligible Expenses:
- Basic technology research or feasibility studies.
- Any expenses not directly related to the development, testing, and validation of EV and battery-focused technologies.
Fees:
- No fees are associated with this program.
Qualifications
- Must be a small or medium-sized enterprise (SME) with fewer than 500 global, full-time employees.
- Must have operations in Ontario and carry out the project in Ontario.
- Must have at least one partner, which can include:
- Small and medium enterprises (SMEs)
- National and multinational enterprises (NEs and MNEs)
- Academic institutions (as clients only)
- Municipalities
- Indigenous communities
- Not-for-profit organizations representing industry
- Crown Corporations
- Transit Authorities
- Project must have a total budget of up to $3,000,000 over 24 months.
- Project must be at Technology Readiness Level 3-9.
- Project activities should include technology development, demonstration, product/service validation, testing, and piloting.
- Project must demonstrate close collaboration and scalable outcomes with high potential for commercialization, strong commercial pull, competitive advantage, and alignment with intended program benefits.
Project must include the demonstration of actual products that can be showcased in Ontario at events, on the road, to OCI and its partners, and/or at customer sites.
Disqualifications:
- Projects intended to prove feasibility or for basic technology research.
Description
This program offers your business up to $1,000,000 in co-investment funding. This money can be used for developing, testing, and validating electric vehicle (EV) and battery-focused technologies. The funding is available for a wide range of projects, including mass light vehicles, heavy-duty vehicles, charging infrastructure, and intelligent transportation systems.
You can use the funds for:
- Light weighting
- Electrified powertrains, electric motors, and transmission systems
- EV batteries, battery materials, and chemistry
- Charging systems and EV fleet management technologies
- Hydrogen and alternative fuel cell EVs
- Electric micro-mobility
The program requires that all funds must be matched by a minimum 2:1 contribution from you and/or your private sector partners. The funding period is up to 24 months, giving you ample time to develop and demonstrate your technologies.
This is a great opportunity to commercialize Ontario-made technologies and showcase them to potential customers. It also helps you build relationships with researchers and partners, creating marketable solutions to current challenges. This program not only benefits your business but also contributes to society by improving road safety, reducing environmental impact, and enhancing transportation systems.
Program Steps
Complete the Client Intake Form: Start by filling out the client intake form to express your interest in the program. This form is available on the OVIN Resource Document Page.
Contact an OCI Business Development Manager: After submitting the intake form, an OCI Business Development Manager (BD) will reach out to discuss the opportunity and assist you with the application process.
Prepare Required Documentation: Gather the necessary documents to support your application. These include:
- Program Guidelines
- OCI Funding Agreement
- Eligible Expenditures Guide
- Full Proposal Questionnaire
- Letter of Support Template
- Data and Information Sharing Protocol (DISP) documents
Submit an Expression of Interest (EOI): Work with your OCI BD to prepare and submit an Expression of Interest. This initial submission will outline your project and its alignment with the program's objectives.
Develop a Full Proposal: If your EOI is approved, you will be invited to submit a Full Proposal. This detailed proposal will include comprehensive information about your project, partners, and expected outcomes.
Review and Finalize Proposal: Collaborate with your OCI BD to review and finalize your Full Proposal. Ensure all required information and documentation are included.
Submit Full Proposal: Submit the finalized Full Proposal through the appropriate channels as directed by your OCI BD.
Await Application Review: The program administrators will review your Full Proposal to ensure it meets all criteria and aligns with the program’s objectives.
Approval and Funding: If your proposal is approved, you will receive co-investment funding of up to $1,000,000. Discuss the final terms and conditions with your OCI BD.
Project Implementation: Begin the development, testing, and validation of your electric vehicle (EV) and battery-focused technologies as outlined in your approved project plan.