Investments in Forest Industry Transformation — Capital Investment Projects
Highlights
The Investments in Forest Industry Transformation (IFIT) program is designed specifically for businesses like yours in the forest sector. This program offers non-repayable contributions of up to $10 million for capital investment projects and up to $1 million for studies. These funds can help you adopt transformative technologies, diversify your product streams, and improve your environmental performance.
Why should you apply?
- Significant financial support: Up to $10 million for capital projects.
- Non-repayable contributions: Unlike loans, you don't have to pay this money back.
- Boost competitiveness: Adopt innovative, low-carbon technologies to stay ahead.
- Job creation: Support for forest-reliant communities, securing thousands of jobs.
What's in it for you?
- Environmental benefits: Projects that contribute to decarbonization and efficient resource use.
- Market leadership: Position your business as a leader in forest sector innovation.
- Easy application process: The initial Expression of Interest (EOI) takes just 30 to 60 minutes to complete.
Applying for this program can significantly enhance your business's growth and sustainability, making it a valuable opportunity you shouldn't miss.
Financing Details
Type of Financing: Non-repayable Contribution
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Capital investment projects: Up to $10 million for costs related to adopting transformational technologies and diversifying product streams.
- Studies: Up to $1 million for costs associated with market and technology feasibility studies.
Use of Funds:
- Funds can be used for:
- Renewable energy projects.
- Sustainable bioproducts.
- Technologies that enhance energy efficiency.
- Bioenergy carbon capture initiatives.
- Development of advanced bioproducts such as bioenergy, bioplastics, biochemicals, and next-generation building materials.
Restrictions on Use of Funds:
- Funds cannot be used for:
- Routine operational costs.
- Non-innovative projects.
- Projects outside the forest sector.
Fees:
- No fees associated with the program.
Qualifications
- Must be a legal entity validly incorporated or registered in Canada.
Eligible entities include:
- For-profit organizations such as companies.
- Not-for-profit organizations such as industry associations and research associations.
- Indigenous organizations and groups.
- Provincial, territorial, regional, and municipal governments and their departments and agencies where applicable.
Disqualifications:
- Entities not incorporated or registered in Canada.
- Individuals or sole proprietorships.
- Entities outside the forest sector.
Description
This program offers your business a chance to receive up to $10 million in non-repayable contributions. This money can help you adopt new technologies and diversify your product offerings. By doing so, you can stay competitive and achieve better environmental outcomes.
You can use the funds for projects that produce renewable energy, create sustainable bioproducts, or improve energy efficiency. This means you can explore innovative solutions like bioenergy, bioplastics, and advanced building materials. These projects not only support your business but also contribute to a more sustainable future.
Additionally, the program offers up to $1 million for studies that assess the feasibility of innovative projects. These studies can help you plan for future investments or strategic shifts in your business. By participating, you can position your business as a leader in the forest sector and secure new revenue streams.
Program Steps
Register for a GCKey: Visit the NRCan Online Submission Portal and register for a GCKey to access the application forms.
Submit an Expression of Interest (EOI): Complete and submit the EOI form for the stream you are applying for (Capital Investment Projects or Studies). This form requires high-level information about your business and project.
Prepare Documentation: Gather the necessary documents to support your application. These include:
- Business financial statements
- Detailed project plans
- Market and technology feasibility studies (if applicable)
- Any other relevant supporting documents
Save and Review: Save your progress regularly while completing the online form. Review the form structure and ensure all information is accurate before submission.
Submit EOI: Submit your completed EOI form through the NRCan Online Submission Portal. You can submit multiple EOIs if needed.
Await Screening: Program staff will screen your EOI and contact you about the next steps.
Full Project Proposal (FPP): If selected, you will receive a link to an editable FPP form. Complete this form with additional detailed information and documentation.
Submit FPP: Submit the completed FPP form along with all required documentation. Ensure it meets the Rated Program Criteria outlined in the Applicant Guidebook.
Review and Decision: Your application will be assessed, and funding decisions will be made based on the assessment results, funding availability, and other criteria.
Final Approval: If approved, discuss the final terms and conditions of the funding. Once agreed upon, the funds will be disbursed to support your project.