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Canadian Government Announces $3 Billion for new 'Strategic Innovation Fund - Net Zero Accelerator' to Rapidly Expedite Decarbonization Projects
Thursday, December 24, 2020
Vancouver, BC, December 24, 2020--(T-Net)--Justin Trudeau, Prime Minister of Canada, recently announced an investment of $3 billion over five years for the new Strategic Innovation Fund - Net Zero Accelerator.
This initiative will be delivered via the Strategic Innovation Fund to rapidly expedite decarbonization projects with large emitters, scale up clean technology and accelerate Canada's industrial transformation across all sectors.
"This means more competitive and more innovative Canadian industries that provide Canadians with job opportunities today and well into the years to come" stated the government in a release.
This plan will drive investment into large emissions-reducing and job-creating projects across every region of Canada.
The Strategic Innovation Fund - Net Zero Accelerator will have three focus areas:
The Government of Canada invites companies to apply for funding for the new Strategic Innovation Fund - Net Zero Accelerator. The initiative uses the same program parameters as the current Strategic Innovation Fund but will have an added emissions reduction and sustainability lens. The new Statement of Interest can be obtained by sending an email to ic.sifadmission-fsiadmission.ic@canada.ca.
"Our government's plan to build a better future will protect our communities and grow the economy. This investment for the Strategic Innovation Fund - Net Zero Accelerator means companies in Canada will decarbonize faster and our clean-tech sector will scale up faster and, in turn, they will offer the world more of the low-carbon products that consumers and investors increasingly demand. Our government is committed to ensuring that Canadian businesses have the tools, support and conditions to become world leaders so that people everywhere equate 'made in Canada' with the most innovative and sought-after products." said Navdeep Bains, Minister of Innovation, Science and Industry.
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