FAQs: NextGen BioFuels Fund for CleanTech
Sustainable Development Technology Canada (SDTC) is a not-for profit organization that provides funding opportunities for projects that create environmentally friendly and sustainable solutions. One such initiative provided by SDTC is NextGen BioFuels, a funding program to support the development and advancement of new alternative fuel technologies.
What types of projects are eligible for funding from the NextGen BioFuels Fund?
The NextGen BioFuels fund supports a specific type of project. The goal of the fund is to help companies with an innovative biofuel project proceed through the commercialization stage.
What are the NextGen Biofuels Fund project requirements?
The project must meet the following requirements:
- First to develop a large scale production facility for the new and innovative biofuel
- Make use of Canadian biomass products
- Facility will be located in Canada
- Have proceeded successfully through piloting stage of the project.
Who is eligible to apply for funding from SDTC’s NextGen BioFuel Fund?
Canadian owned and operated for-profit companies are eligible to apply for funding. The company must be in the biofuel industry or partner with someone who is. The lead applicant must always be a Canadian for-profit company.
How much funding is available through Canadian business loans offered through the NextGen Biofuels Fund?
The NextGen BioFuels fund Canadian business loans program will support up to 40% of eligible project costs to a maximum amount of $200 million.
Is the funding from the NextGen BioFuel Fund a loan or a grant?
The funding offered through the SDTC NextGen BioFuel Fund is a loan.
What are the repayment terms for the loan?
The repayment terms are outlined in an agreement between SDTC and the applicant. Loans are to be repaid within 10 years.
What type of costs are considered eligible by the NextGen BioFuel Fund?
The NextGen Biofuels fund will support costs directly related to the project including:
- Salaries and contractor costs
- Equipment and machinery
- Environmental assessments
- Project management and administrative costs.
How long can NextGen Biofuels projects be?
There isn’t a defined maximum project length. However projects covered through the NextGen Biofuels Fund must be completed by April 1, 2017.
When are applications accepted to the SDTC NextGen BioFuels Fund?
Applications are accepted and evaluated as they are received on an ongoing basis. The only stipulation is that projects must be completed by April 1, 2017.
How does my company find out more information about this government funding program?
Find out more about the NextGen Biofules Fund by choosing from one of the following:
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