Author: kieran

Green Economy: Highlights from 2024-25 Newfoundland and Labrador Provincial Budget

Posted on by kieran

Below are some highlights from the Newfoundland and Labrador provincial budget, delivered on March 21, 2024, relevant to green economy stakeholders. Click here to view the budget materials.

Tax Credits

Two provincial tax credits that can support cleantech adoption and production will continue, including:

  • The 20% ‘Green Technology’ tax credit (to help businesses with specific capital costs for green activities, such as equipment for energy conservation and clean energy generation and the efficient use of fossil fuels).
  • The 10% manufacturing and processing investment tax credit.

Green Transition and Innovation

Financing to assist businesses and research institutions pursue green economy opportunities will be funded again in 2024-25, including:

  • $13.7 million in funding for the Innovation and Business Development Fund.
  • $11.5 million for the Green Transition Fund.
  • $35 million to support economic development, with a focus on research and development, commercialization, investment attraction, and regional development – not specifically tied to ‘green’ but green activities eligible.

Net Zero

Investments to help decarbonize and reduce GHGs in the province, including:

  • $81.9 million to reduce greenhouse gas emissions, while addressing energy affordability including support to transition homes from oil to electric heat.
  • $1.1 million for electrical vehicle infrastructure.

Climate Change Adaptation

Contributions to help acquire vital information for municipalities and planners:

  • $1.5 million for flood risk mapping.

Wastewater

Dedicated funds to assist in tackling wastewater challenges in NL, including:

  • $50 million over five years to support water and wastewater projects.
  • $650,000 for a permanent wastewater surveillance program.

Mining

Plus, investments to help the province continue to position itself as a leader in critical minerals:

  • $2.6 million to support implementation of the Critical Minerals Strategy to enhance the province’s competitiveness and attract private investment.
  • $1.7 million for the Mineral Incentive Program, including $1.3 million for Junior Exploration Assistance.
  • $1.6 million annually for a Labrador-specific geoscience program that supports exploration in frontier regions.

Also of note, a $72.4 million contribution is being made to the Newfoundland and Labrador Future Fund (revenues from one-time sources and non-renewables resources) bringing the total contributions to $358.8 million.

Nominations are now open for econext’s Industry Awards!

Posted on by kieran

Do you know of an econext member that should be recognized for their successes?

econext is launching its industry awards program, celebrating the businesses, researchers, and professionals building the green economy in Newfoundland and Labrador over the past year.

The deadline for nominations is Tuesday, April 9, 2024. Awards categories include:

  • Cleantech Innovation
  • Business Excellence
  • International Business
  • Industry Champion

To see the awards categories and make your nomination, click the link below.

Make a Nomination!

WEBINAR: Clean fuels and economic development in Newfoundland and Labrador

Posted on by kieran

Newfoundland and Labrador is on the frontier of clean fuels development and production on a global scale. There are several projects being explored within the province that would be internationally significant in terms of their contribution in the fight against climate change.

These types of projects not only allow for Newfoundland and Labrador to make an important contribution to the world’s pursuit of net zero, but also create good jobs, business opportunities, and community investment here at home.

In partnership with the Economic Developers Association of NL, join econext CEO Kieran Hanley on April 12 for a webinar to learn more about the emerging clean fuels industry, explore the economic development considerations and opportunities that may present themselves, and understand what practitioners can do to prepare.

Date: April 12, 2024
Time: 12:00pm – 1:00pm
Location: Online
Price: Free

Click to Register

Tides of Opportunity: Scanmudring

Posted on by kieran

The Tides of Opportunity video series stemmed from a number of in-person events and real-time demonstrations where both students and skilled professionals could learn directly from industry leaders about available and emerging ocean cleantech careers in Newfoundland and Labrador.

This video spotlights econext member Scanmudring. Scanmudring’s specialized heavy-duty equipment and advanced technologies have made them the ideal partners for many marine companies operating in harsh subsea environments. They offer a range of services, from subsea decommissioning, to precision dredging. They also take sustainability very seriously, committing to becoming a Net Zero company before 2030.

See the Full Series!

This project is funded by the Government of Canada’s Community Workforce Development program.

Eight teams compete for grand prize at econext clean growth Ideathon in Corner Brook

Posted on by kieran


For Immediate Release
March 13, 2024

Between March 1-3, 2024, the second econext clean growth Ideathon took place in partnership with Navigate Entrepreneurship Centre and Memorial University’s Centre for Social Enterprise.

Taking place in Corner Brook, the event saw 36 post-secondary students from Memorial University’s Grenfell Campus and the College of the North Atlantic compete to come up with solutions for reducing and/or repurposing waste material in Newfoundland and Labrador (NL).

The students, from many different disciplines, formed 8 teams. Each team worked together to develop their ideas which they pitched to a panel of expert judges. The students received mentorship and participated in workshops and networking throughout the weekend to help build their ideas. The top three teams walked away with prizes totalling $6,000. A Social Impact Award of $1,000, sponsored by the Centre for Social Enterprise, was also awarded to one team.

First-Place Winners


The first-place prize, sponsored by Hatch, was awarded to Team Waste Watchers (Dan Langdon, Riley Lockyer, and Ryan Whalen) who pitched a coordinated collection and processing of organic matter , and the sale of resulting fertilizing compost soil to suit agricultural demands.

Second-Place Winners


The second-place prize went to Team Green Revive (Andy Guilhem Awongue Nkada, Jemy Sara Joy, Soham Savant, Madison Organ, and Muhammad Zeeshan Siddiqui) who presented “Salt-ernative” – a de-icer alternative made from forestry and fisheries waste to reduce salt and its harmful effects. Green Revive were also the winners of the Social Impact Award.

Third-Place Winners


The third-place prize, sponsored by TD Bank, was presented to Team Eco Souls (Bhashitha Konara, Marie Lopez Cruz, Poornima Wijerathna) who introduced “Eco-Rewards” – a gamified approach to recycling with tangible rewards for participants.

In addition to the prize sponsors, econext would like to thank its opening ceremonies sponsor, NL Workforce Innovation Centre; event sponsor, Fuel 4 the Future; and meal sponsors, Electronic Products Recycling Association and Memorial University’s Cenovus Centre of Excellence in Sales and Supply Chain Management.


The econext Ideathon was made possible through partnership with the Business + Higher Education Roundtable, and with support from the Government of Canada.

More events will be taking place in 2024-25. If you are interested in partnering on a future event, please contact Chelsea Linfield at chelsea@econext.ca or Alex Rumbolt at alex@econext.ca.

econext is an association that accelerates clean growth in Newfoundland and Labrador and works on behalf of over 200 members to foster environmentally sustainable economic development. More information can be found at https://econext.ca.

Navigate is a champion of entrepreneurship in western Newfoundland, providing business coaching and support to the local entrepreneurial community and to students, faculty, staff, and alumni of MUN Grenfell Campus and CNA Corner Brook Campus. Learn more at https://navigatesmallbusiness.ca.

Since its official launch in 2017, the Centre for Social Enterprise has established itself as a hub of social enterprise expertise and activity with a wide network of collaborators and partners both within the province and beyond. Learn more at https://www.mun.ca/social-enterprise.

The Business + Higher Education Roundtable (BHER) is a non-partisan, not-for-profit organization bringing together some of Canada’s largest companies and leading post-secondary institutions. Since 2015, BHER has worked to harness the strengths of Canada’s business and post-secondary education sectors to build opportunities for young Canadians, boost innovation and drive collaboration. Learn more at www.bher.ca. Visit our WIL Hub for ways to explore, invest in and create quality WIL opportunities.

RFP: Meeting Short Term Workforce Needs Through Attraction and Retention in Newfoundland and Labrador’s Growing Clean Energy Industry

Posted on by kieran

Newfoundland and Labrador is expecting significant growth in its clean energy industry. However, there are anticipated challenges in finding enough skilled workers to meet the demand. To proactively address this, a plan is needed. econext is seeking consulting services to develop a strategy to attract and retain a diverse workforce that will help usher in NL’s clean energy future.

Download the RFP via the link below. Note that this page will be used to post any questions received and answers provided up until the submission deadline.

Download RFP

Questions and Answers

None.

Tides of Opportunity: GRi Simulations

Posted on by kieran

The Tides of Opportunity video series stemmed from a number of in-person events and real-time demonstrations where both students and skilled professionals could learn directly from industry leaders about available and emerging ocean cleantech careers in Newfoundland and Labrador.

This video spotlights econext member GRi Simulations. GRi is focused on real-time simulation, modeling and visualization of critical marine activities using Digital Twin technologies to enhance the safety, security and productivity of marine systems and operations.

See the Full Series!

This project is funded by the Government of Canada’s Community Workforce Development program.

Tides of Opportunity: Whitecap Scientific Corporation

Posted on by kieran

The Tides of Opportunity video series stemmed from a number of in-person events and real-time demonstrations where both students and skilled professionals could learn directly from industry leaders about available and emerging ocean cleantech careers in Newfoundland and Labrador.

This video spotlights Whitecap Scientific Corporation (@rov3d931). Whitecap offers real-time 3D mapping sensors for ROVs, allowing for accurate subsea visual inspections and operations. Whitecap has packaged this into a seamless format called ROV3D, making it simple for companies to add this to their workflow.

See the Full Series!

This project is funded by the Government of Canada’s Community Workforce Development program.

New approach to funding program will advance circular economy innovation in Newfoundland and Labrador

Posted on by kieran

For Immediate Release
March 7, 2024

econext is congratulating the Multi Materials Stewardship Board (MMSB) on the re-launch of its Solid Waste Management Innovation Fund (SWMIF).

“Newfoundland and Labrador’s geography and demographics creates challenges for the management of waste,” said Kieran Hanley, CEO of econext. “Innovation is required to find new ways to address these challenges in effective and economical ways.”

The SWMIF offers financial support to innovators who are advancing sustainable waste management in Newfoundland and Labrador.

This year the program was increased from $15,000 to $50,000 in non-repayable funding for successful applicants. “This adjustment to the program will help to inspire and support bigger ideas,” said Hanley, noting that the innovative solutions developed in NL can be exportable to other jurisdictions facing similar challenges.

“It is important to look at these challenges as being green economy growth opportunities for our province,” said Hanley. “What’s good for the environment can also be good for business.”

More information on the SWMIF can be found at https://mmsb.nl.ca/funding-programs/swmif/.

econext is currently surveying commercial and industrial operators across to the province to understand how it can help them pursue innovative circular economy opportunities. “We are encouraging businesses in NL to tell us about their waste streams so that we can do better to help,” said Hanley. Business can fill out the short survey at https://econext.ca/econext-asking-nl-businesses-to-reach-out-about-their-solid-waste-streams/.

econext is an association that accelerates clean growth in Newfoundland and Labrador and works on behalf of over 200 members to foster environmentally sustainable economic development. More information can be found at https://econext.ca.

Media Contact
Kieran Hanley
kieran@econext.ca

Clean energy industry momentum building in NL with World Energy GH2 and Government of Canada agreement

Posted on by kieran

For Immediate Release
March 6, 2024

econext is highlighting a recent agreement between World Energy GH2 and the Government of Canada as an important step in the growth of Newfoundland and Labrador’s clean energy industry.

“World Energy GH2’s Project Nujio’qonik aims to be Canada’s first commercial-scale green hydrogen facility,” said Kieran Hanley, CEO of econext. “This agreement helps to cement confidence in the extraordinary opportunity this province has around clean energy.”

Last week Export Development Canada (EDC), on behalf of the Government of Canada, and World Energy GH2 signed definitive agreements in connection with a CA$128M credit facility to support the development of of the project through to its financial close of its long-term financing.

“We applaud EDC for using the tools that it has at its disposal to support clean energy development in Newfoundland and Labrador,” said Hanley. “With supports like these, our province will solidify Canada’s position as a leading supplier of clean energy and technology to the world.”

The Government of Canada’s news release can be found here. World Energy GH2’s news release can be found here.

econext is an association that accelerates clean growth in Newfoundland and Labrador and works on behalf of over 200 members to foster environmentally sustainable economic development. More information can be found at https://econext.ca.

Media Contact
Kieran Hanley
kieran@econext.ca