Investments in Forest Industry Transformation — Studies projects
Highlights
This program is a fantastic opportunity for your business to adopt transformative technologies and diversify your product streams. By applying, you can receive non-repayable contributions of up to $10 million for capital investment projects or up to $1 million for studies. These funds can help you implement innovative, low-carbon projects, making your business more competitive and environmentally sustainable.
What You Get
- Up to $10 million for capital investment projects
- Up to $1 million for studies
Benefits
- Non-repayable contributions: Unlike loans, you do not need to pay back the funding.
- Support for innovative projects: Helps you adopt new technologies and create new revenue streams.
- Environmental impact: Contributes to decarbonizing industrial processes and efficient resource use.
- Job creation: Supports forest-reliant communities and secures jobs.
Ease of Application
- Simple two-phase process: Start with an Expression of Interest (EOI) and, if selected, submit a Full Project Proposal (FPP).
- Multiple application windows: Apply by June 30, 2024, for the final window.
Applying for this program can significantly enhance your business's innovation and sustainability, positioning you as a leader in the forest sector transformation.
Financing Details
Type of Financing: Non-repayable Contributions
Repayment Terms:
- No repayment is required as the contributions are non-repayable.
Eligible Expenses:
- Capital investment projects: Up to $10 million for costs related to adopting transformative technologies and diversifying product streams.
- Studies: Up to $1 million for costs associated with assessing market and technology feasibility for future capital investments or strategic shifts.
Use of Funds:
- Funds can be used for:
- Renewable energy projects
- Sustainable bioproducts
- Technologies for greater energy efficiency
- Bioenergy carbon capture
- Other innovative, low-carbon projects
Restrictions on Use of Funds:
- Funds cannot be used for:
- Routine operational expenses
- Non-innovative projects
- Projects that do not align with the program’s focus on environmental sustainability and technological transformation
Fees:
- There are no fees associated with applying for or receiving funds from this program.
Qualifications
- Must be a legal entity validly incorporated or registered in Canada, including:
- 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:
- Businesses not incorporated or registered in Canada
- Entities outside the specified organizational types
Description
This program offers your business up to $10 million in non-repayable contributions. You can use this money to adopt new technologies and diversify your product lines. This helps your business stay competitive and achieve better environmental outcomes.
You can use the funds for projects like creating renewable energy, producing sustainable bioproducts, and improving energy efficiency. These projects can lead to new revenue streams and make your business more resilient. The program supports both large capital investments and smaller studies to explore innovative ideas.
For studies, you can receive up to $1 million in non-repayable contributions. These studies can help you assess the feasibility of new projects and prepare for future investments. This program is a great opportunity to enhance your business's environmental performance and secure its future growth.
Program Steps
Submit an Expression of Interest (EOI):
- Log in with a GCKey through the NRCan Online Submission Portal.
- Complete the EOI form, providing high-level information about your business and project.
- Save your progress often and consider preparing your responses offline before submitting.
Prepare Required Documentation:
- Gather necessary documents such as:
- Business financial statements
- Project plans
- Market and technology feasibility studies (if applicable)
- Any other documentation specified in the Applicant Guidebook
- Gather necessary documents such as:
Submit EOI by Deadline:
- Ensure your EOI is submitted by 11:59 pm PST on June 30, 2024, for consideration within the final solicitation window.
Wait for Screening Results:
- Program staff will screen your EOI and contact you about the next steps.
Complete Full Project Proposal (FPP):
- If selected to move on to Phase 2, you will receive a link to the FPP form.
- Submit additional information and documentation as requested.
Review Assessment Criteria:
- Your application will be assessed against the Rated Program Criteria found in the Applicant Guidebook.
- Final funding decisions will consider assessment results, funding availability, and other criteria.
Submit FPP by Specified Deadline:
- Ensure all required information and documentation are submitted by the deadline provided in the FPP instructions.
Await Final Decision:
- The program will review and assess your full proposal.
- You will be notified of the final funding decision once the review process is complete.