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NGIF Launches $5.5 Million Innovation Challenge for the Canadian Natural Gas Value Chain

NGIF-Launches-5.5-Million-Innovation-Challenge-for-the-Canadian-Natural-Gas-Value-Chain.

On Thursday, NGIF Industry Grants, a division of NGIF Capital Corporation, launched a $5.5M (CAD) funding competition to accelerate clean technology solutions across the natural gas value chain.

Read more of our news content, here; Breaching the Gap: McKinsey & Company commits $15M to support Black-owned businesses

Indeed, this first-of-its-kind challenge will invest in upstream, midstream, and innovative downstream solutions; particularly, those that address challenges currently present in Canada’s natural gas industry.

Moreover, the competition’s goal is to improve the energy sector’s environmental performance and competitiveness.

The Innovation Challenge – NGIF

Therefore, the Innovation Challenge invites startups and SMEs with innovative solutions to critical challenges facing the industry. Moreover, those solutions must create value and mitigate environmental impacts in the production, transmission, distribution, and end-use of natural gas in Canada.

Accordingly, NGIF is offering an industry grant of up to $500,000 (CAD) per project, representing as much as 33% of a project’s eligible expenses.

Interested applicants should download the Applicant’s Guide, which provides information on investment priorities, eligible expenses, and conditions on funding. Worth noting, the deadline for submitting the Expression of Interest (EOI) is July 8, 2021, at 3:00 pm EST.

In this sense, John Adams, NGIF Capital Corporation President, and CEO commented that the competition is NGIF’s; “largest Innovation Challenge to date. Particularly, one that aims to harness ideas to develop and scale technologically and economically impactful solutions in the natural gas sector.”

Furthermore, “developing low-emission and resilient technology is key to enhancing our sector’s leading environmental performance.”

About the applications guidelines

Worth noting, NGIF is accepting applications for innovations that have the potential to generate significant environmental and economic performance benefits in seven strategic focus areas. For instance, Renewable Natural Gas (RNG), Hydrogen, Carbon Capture Storage and Utilization, Heat Pumps and Micro-CHP, Transportation, Waste Heat Utilization, and Water Management.

In fact, since 2017, NGIF has fostered a trusted partnership model. Therefore, through this scheme, the organization encourages clean technologies commercialization. It is particularly aiming at supporting economic growth, job creation, and emission reductions across Canada.

Indeed, “NGIF’s trusted partnership model has resulted in a strong portfolio of projects with federal, provincial, and industry support,” says Adams. “Working together with our trusted partners accelerates innovation faster to commercialization.”

Similarly, Bruce Ralston, BC Minister of Energy, Mines and Low Carbon Innovation, said; “Through this collaboration, we are supporting innovations that will grow B.C.’s world-leading cleantech sector and create good jobs. Hence, the technologies and ideas needed for the transition to a low-carbon future; will drive economic growth and provide opportunities for B.C. businesses.”

Moreover, “maintaining our leadership in emerging technology development and deployment is crucial to Ontario’s success,” said Dr. Claudia Krywiak, President and CEO of The Ontario Centre of Innovation. Thus, “through our partnership with NGIF, we are accelerating the commercialization of made-in-Ontario technologies. Besides, we are helping startups get the tools they need to scale and succeed in the global marketplace.”

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