Energy Efficiency Innovation.

Our Energy Efficiency Innovation financing aims to support eligible seafood businesses with the adoption of energy efficient technologies to reduce GHG emissions. Financing is complementary to the Fisheries and Aquaculture Energy Efficiency Innovation Fund administered by EfficiencyOne and can assist eligible seafood businesses to invest in electrification, operational efficiency or renewal energy and alternative fuel projects.

Financing

Successful applicants will be eligible for a 0.50% interest-rate reduction on the entirety of the loan for eligible projects.*

Eligibility

Applicant must be eligible for funding under the Fisheries and Aquaculture Energy Efficiency Innovation Fund. Proof of eligibility and approval will be required.

Grant funding from EfficiencyOne to be assigned to the FALB or paid upfront as a deposit/down payment.

Eligible for FALB financing and satisfying all other lending criteria.  Applications can be made using existing FALB application forms available elsewhere on this website.

*Projects Supported

Electrification: Supporting the transition to use of electric vessels and support vehicles, charging infrastructure, and energy storage capacity.

Operational Efficiency: Energy efficient technology adoption and exploration of energy monitoring and cost of production management projects.

Renewable Energy and Alternative Fuel: Supporting adoption of tidal, solar, wind, geothermal, biofuel, and carbon capture projects.