Canadian Forestry Firms Can Now Apply For Up To $20M In Funding
Funding Overview
The Investments in Forest Industry Transformation (IFIT) program facilitates the adoption of transformative technologies, products, and processes by bridging the gap between development and commercialization. The IFIT program aims to create a more competitive and resilient forest sector with a focus on low-carbon projects that result in new or diversified revenue streams.
General Enterprise Capital Investment Projects
- Open to companies of any size, including small enterprises
- Funding up to a maximum of $20 million per project
- The maximum amount payable by the IFIT program to a recipient will be 50% of total cost of a capital project
Small Enterprise Capital Investment Projects
- For small enterprises (50 or fewer employees)
- Funding up to $1 million for a project of $3 million or less
- Small Enterprises can request more than $1 million for a project of any amount through General Enterprise Capital Investment Projects
Eligible Applicants
For-profit companies located in Canada, that
- Produce forest products in an existing forest product manufacturing facility (for example, pulp, paper or lumber mills) or
- Are / will be new entrants in the Canadian forest sector for the purpose of the proposed project
Clusters, joint ventures and consortiums are included if a for-profit company acts as the lead applicant and will be designated as the recipient of IFIT funding.
Funding Details
The Investments in Forestry Industry Transformation (IFIT) program is accepting applications for General Enterprise Capital Investment projects and Small Enterprise Capital Investment projects that can demonstrate they are “ready to build” with planned capital expenditures starting no later than January 1, 2021. Projects not meeting this requirement are encouraged to apply under our next call for proposals expected in early 2021.
Deadline
Deadline for expressions of interest (EOI): Thursday, August 13, 2020, 5:00 p.m. EDT.
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