Green forest with contextual icons

CleanBC: Funding available for BC companies looking to invest in clean tech

November 23, 2022

CleanBC: Funding available for BC companies looking to invest in clean tech

Synopsis
4 Minute Read

The provincial government’s CleanBC initiative has a myriad of programs that BC businesses can and should leverage for their benefit.

Partner, Consulting Services

The challenges you face as a British Columbia business owner or leader — increasing costs of fuel along with volatility in the energy markets, supply chain disruptions, evolving technologies and more — can seem ubiquitous and tough to navigate.

From a business standpoint, decarbonizing operations is a part of corporate citizenship; it’s a vital ESG metric that consumers and investors will pay attention to. Larry Fink, the CEO of the world’s largest investment management company, has boldly declared in his annual letter to CEO’s that “climate risk is investment risk.”

These principles are true across Canada and the globe, they’re not unique to your province. What stands out in British Columbia is the provincial government’s CleanBC initiative, which includes funding to help circumvent the challenges mentioned above.

CleanBC programs

If you do business here, you’ve undoubtedly heard of the CleanBC initiative as a whole, but you may not be aware of all the programs that fit under the CleanBC umbrella. Some examples include:

These CleanBC programs share a common purpose: to incentivize companies to cut emissions, adopt low-carbon fuels along with building materials, and increase sustainability through investment in clean technologies. You can receive funding for reducing your emissions or developing technologies that have the potential to scale.

Success stories

By most discernable metrics, the CleanBC initiative has been widely successful. In the province’s Budget 2022 announcement, they included large financial commitments to keep the programs running, because so many BC individuals and companies have been taking advantage of the incentives available to them through CleanBC.

Some examples of companies who have done this successfully:

Damon Motors Inc.

Damon Motors is an award-winning BC-based electric motorcycle manufacturer founded in 2017.

Due to the zero-emission nature of its bikes, Damon Motors is receiving $400,000 from the CleanBC Go Electric ARC program for its modular electric vehicle (EV) powertrain system. It is also constructing a new clean-tech manufacturing, research, and development facility in Surrey.

Harbour Air Seaplanes

Harbour Air, based in Richmond BC, is one of the world’s largest all-seaplane airlines in the world, flying over 500,000 passengers a year on commercial and tourist flights.

In December 2019, Harbour Air completed a flight of the world’s first all-electric commercial aircraft. It is currently developing clean technology to decarbonize aviation — specifically a new design of the electric motor installation and battery systems to gain efficiencies that will allow carrying commercial passengers. This enables it to convert existing planes into zero-emissions aircraft. It received almost $1.6 million from the CleanBC Go Electric ARC program.

Seaspan Ferries

Seaspan Ferries provides daily, drop trailer ferry service for general freight products, consumer goods, regulated commodities, and automobiles, between Vancouver Island and the Lower Mainland.

In an effort to reduce fleet emissions and explore alternative, low-carbon technologies, Seaspan Ferries has been able to leverage the CleanBC Go Electric CVP program to fund the procurement of two battery-powered terminal trucks and corresponding charging infrastructure.

Write your own success story

If your company is considering making investments in clean technology, or developing green solutions of its own through research and innovation, there may be no better time than now. CleanBC is making millions of dollars available to catalyze these changes for BC businesses.

Contact us

MNP helps administer many of these programs on behalf of the BC Government, including the ARC & CVP Programs. For more information on these programs and how to apply, reach out to:

Karan Suri, Manager, Consulting
[email protected]

Todd Nash, RPF, Partner, Consulting
[email protected]

Insights

  • Confidence

    November 28, 2022

    What you need to know about the CRA’s self-assessment tax audit process

    How do you prepare when the CRA requests an audit of specific expenses or deductions you’ve made?

  • Performance

    November 28, 2022

    Managing your farm’s living and dynamic budget

    Consider your farm’s budget as more than just a limit on your spending. When done properly, budgeting on your farm can be liberating, not limiting.

  • Performance

    November 25, 2022

    Managing your farm in an era of rising interest rates

    Rising interest rates present new challenges to farmers, but using the right strategies allows you to stay in control and navigate this period of change.