The Nova Scotia Department of Fisheries and Aquaculture and non-profit Efficiency Nova Scotia have announced a $6.5 million, three-year funding program to bolster electrification in the seafood industry, including through a demonstration study with Halifax-based Glas Ocean Electric.
Dubbed the Fisheries and Aquaculture Energy Efficiency Innovation Fund, the money is earmarked for research and development work that supports the decarbonization of the seafood sector, as well as to fund adoption of existing clean technologies by businesses. In addition, the Fisheries and Aquaculture Loan Board, a Crown lender, will offer a total of $10 million of debt financing to the selected companies.
Glas Ocean makes electrification kits for small- and medium-sized vessels and last fall said it was raising a US$2 million seed round. The company is receiving $198,000 to help develop its technology.
“The program will support new projects that reduce greenhouse gas emissions produced by boats, buildings and other commercial fisheries and aquaculture operations,” says program organizers. “Funding is also available to support adoption of clean technology in the sector.”
Specifically, the government is looking for proposals that adapt existing electrification technologies for use by fishing vessels and fleets, upgrade existing equipment, involve the installation of new renewable energy systems or centre on research that could contribute to future emissions reductions.
