Ontario is helping researchers, entrepreneurs and companies create and commercialize new, globally competitive, low-carbon technologies that will reduce greenhouse gas emissions (GHG) in the province.
Daiene Vernile, Parliamentary Assistant to Reza Moridi, Minister of Research, Innovation and Science, was in Kitchener today to make the announcement.
The Low Carbon Innovation Fund (LCIF) will support emerging, innovative technologies in areas such as alternative energy generation and conservation, new biofuels or bioproducts, next-generation transportation or novel carbon capture and usage technologies. Successful technologies will need to show significant potential to reduce greenhouse gas emissions in Ontario. This initiative is part of Ontario's Climate Change Action Plan and is funded by proceeds from the province's carbon market.
The fund includes two streams:
Projects eligible for funding include new GHG reduction technology that addresses a specific need, and projects that show a significant improvement to an existing GHG reduction technology solution.
Supporting innovation while reducing greenhouse gas emissions is part of our plan to create jobs, grow our economy and help people in their everyday lives.
“Research and innovation are critical to addressing the global challenge of climate change. The Low Carbon Innovation Fund will help our innovators advance their concepts, create jobs and lead to a cleaner, healthier environment and a better quality of life for Ontario families and people around the world.”
“The Low Carbon Innovation Fund challenges local innovators to tackle greenhouse gas emissions – which is great for our province’s economy. Working together to develop creative solutions will help us fight climate change while preparing industries to thrive in a competitive, low-carbon economy.”
“By investing proceeds from Ontario’s carbon market into innovative initiatives such as the Low Carbon Innovation Fund, our government is helping accelerate the growth of Ontario’s thriving clean tech sector. This will ensure Ontario companies develop homegrown solutions to reduce greenhouse gas emissions and help the province transition to a prosperous, low-carbon economy.”
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