Low Carbon Economy Challenge

Funding Alert: Low Carbon Economy Fund

The Low Carbon Economy Challenge is a $500 million competitive program that supports a wide range of applicants in deploying proven, market-available technologies that result in material, incremental and cost-effective greenhouse gas emissions (GHG) reductions.

Programme Objective

The Low Carbon Economy Challenge (the Challenge Fund) leverages Canadian ingenuity to reduce greenhouse gas (GHG) emissions and generate clean growth.

Program Funding Amount

The LCEC program has $500 million allocated for eligible applicants.
Applicants may request from $1 million up to $25 million in funding for eligible project expenditures.

Eligible Applicants

Private sector for-profit small, medium, and large businesses.
Not-for-profit organizations.
Provincial, territorial, local governments.
First Nations, Métis and Inuit government, communities, or organizations.

Eligible Projects

A project must result in reductions in GHG emissions in 2030 and over the lifetime of the project. These reductions must be:

To sources of emissions controlled by the applicant or project partner.
Beyond what is required by existing regulations, standards, or codes and ongoing work by project proponents (incremental).
Directly and immediately the result of activities funded by the program.
Requests must be between $1 million and $25 million.

Ineligible Projects

Research, development, and demonstration projects.
Educational or capacity-building projects
Feasibility or other pre-engineering studies
Purchase of new vehicles or ZEV infrastructure
Construction of new buildings

Timeline

Applications will be accepted from October 3, 2023, to January 12, 2024.
Key dates:
1. September 2023: Self-screening tool and applicant guide are available.
2. October 3^{rd, 2023}: Application period open.
3. Summer 2024: Final funding decisions.
4. Project completion: March 31, 2028.

Thinking of applying for financing? These funds are highly competitive, contact us today to get started!

Why Ayming?

Our team of experts will take the time to understand your current and future planned projects. We will then align these initiatives to the program in order to provide you with the highest ROI and the highest chance of approval.

We have extensive experience working with Canadian SMEs and have the expertise to properly position and maximize your application to secure your business funding.
We are the first Canadian company to establish a national grants practice.
Our proprietary artificial intelligence (AI) driven database of grants provides live access to thousands of programs, including a custom snapshot of all federal and provincial grants currently available to each company specifically.
Our highly experienced delivery teams boast over 50 + years of combined grants experience and over 200+ years of combined SR&ED experience, meaning you partner with true subject matter experts who are invested in your success.
No risk success-fee remuneration.