The Fisheries and Aquaculture Energy Efficiency Innovation Fund
Maintaining a sustainable seafood, aquaculture, and sportfishing sectors throughout Nova Scotia is key to safeguarding these industries across the province. That’s why we’ve partnered with the Province of Nova Scotia to offer the Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) to reduce the effects of climate change by investing in innovative and efficient new practices.
The FAEEIF is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors to reduce energy use and climate change impacts to at least 53% below 2005 levels by 2030 and achieve net zero by 2050.
Incentives
The program will offer funding for eligible products and projects to a maximum as follows:
| Pathway | Eligible percentage of total project costs* | Maximum funding amount** | Additional requirements |
|---|---|---|---|
| Study | 75% | Up to $250K*** | Business Plan for requests > $100K |
| Electrification | 50% | Up to $250K | Business Plan for requests > $100K |
| Renewables | 50% | Up to $100K | N/A |
| Operational Efficiency | 50% | Up to $100k | N/A |
Total funding stacking from all third-party sources cannot exceed 80% of the total project cost, the applicant is expected to contribute a minimum of 20%*. Participants may request funding respecting the stacking limit of 80% and the pathway maximum funding limits below.
* Note: in-kind contributions are not considered with respect to stacking limits and applicant contributions.
**Applications will be competitively reviewed per path by funding dollars requested vs impact as evaluated by the scoring criteria.
***If a study is conducted to support future work related to the Operational Efficiency or Renewable Path, the maximum limit for funding is $100K.
Eligibility
The applicant must:
- Be the end user of the proposed project.
- Have legal capacity to operate in Nova Scotia.
- Be in good standing with the Fisheries and Aquaculture Loan Board.
Applicants must also meet one of the following criteria:
- Are an aquaculture business in Nova Scotia holding a valid licence and lease from the Nova Scotia Department of Fisheries and Aquaculture.
- Are a commercial fish harvester/business operating in Nova Scotia, holding a valid licence from the federal Department of Fisheries and Oceans.
- Are a fish buying or processing business registered and licensed in Nova Scotia and in good standing, holding a valid licence from the Nova Scotia Department of Fisheries and Aquaculture.
- Operates a business or organization registered in Nova Scotia that directly supports the commercial fisheries and aquaculture industries. A description of how the fisheries industry is supported will be required and evaluated by the steering committee.
- Be in good standing with the relevant regulatory authority.
Program Documents
Please download, fill out and reference the applicable forms:
Funding for this program is provided by
