Canada’s Energy Innovation Program Funding Low Emission R&D
Canada’s Energy Innovation Program has announced their plans to fund R&D in low- and zero-emission medium- and heavy-duty vehicles. Projects will be eligible for up to $1.5 million in federal funding and up to $5 million for demonstrations.
The call for proposals opened May 25. Successful applicants could each receive up to 75% of eligible costs for the research and development, and up to 50% of eligible costs for demonstration projects.
Projects which plan to address existing barriers and limitations to the deployment of low- and zero-emission medium- and heavy-duty vehicles, such as improving energy efficiency, weight reductions through advanced materials, development of high-performance hydrogen fuel cells, and more.
Support is also available for infrastructure such as chargers for multi-unit buildings, and steps to improve charger reliability in extreme cold.
Funding for Indigenous applicants could cover up to 100% of total project costs, up to the program’s maximum amounts.
Applications will be accepted until July 20, and those who are successful will be invited to submit full project proposals in the fall.
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If you would like to find out more about how your business could benefit from R&D Tax Credit, contact a Swanson Reed R&D Tax Advisor today.