Support of up to $5 million drawing on CEFC finance and expertise to invest in innovative businesses to accelerate the transition to net zero emissions.
On this page you will find
What is the Clean Energy Innovation Fund (CEIF)?
The transition to a net zero economy is creating enormous opportunities for new technologies, new business models and rapid innovation and commercialisation.
The Clean Energy Innovation Fund (CEIF) is a special investment program that invests in companies with experienced and capable management teams, a competitive edge in technology and innovation, and the potential for both domestic and global market application of their technologies and solutions. It aligns these companies with climate tech investors, who are motivated by the positive environmental impact of climate tech innovation, as well as commercial potential and robust business fundamentals.
The CEIF is managed by Virescent Ventures, a specialist climate tech fund manager in which the Clean Energy Finance Corporation (CEFC) has a 30% shareholding. The decision to establish Virescent Ventures as an independent investment management firm allows the CEFC to catalyse and attract significantly more private sector investors into Australian climate tech.
Virescent is pursuing a capital raise in 2024, with a new Fund ll expected to be cornerstoned by the CEFC. Fund II will also target superannuation funds, institutional investors, large financial institutions and sophisticated wholesale investors. The goal of Fund II is to deploy a further $200 million or more into climate technologies over the next five years, complementing the focus of the Innovation Fund.
CEIF level of support
The CEFC doesn’t give grants. They invest, in both debt and equity, and work to deliver a positive return for taxpayers across their portfolio.
The CEFC has a flexible approach to investment, which recognises the needs of the evolving market. They offer tailored investment solutions for renewable energy, energy efficiency and low emissions opportunities.
Direct investments
- Direct investments for small and large scale clean energy projects include flexible debt and equity finance, or a combination of both, tailored to individual projects.
Debt markets
- We are a leading investor in Australia’s emerging green bonds market, creating new options for investors, issuers and developers.
Asset finance
- We work with banks and co-financiers to deliver discounted finance to businesses, farmers and manufacturers for their clean energy investments.
Alternatives
- We invest in new sources of capital via listed and unlisted funds to broaden our reach into areas of the economy with the potential for significant emissions reduction.
Projects are typically valued at up to $5 million, with an average investment of some $100,000.
CEIF important dates
- The CEIF Program is an ongoing program
- Register your interest here with GrantHelper
CEIF objective
The CEIF invests in innovative businesses helping to accelerate and achieve the transition to net zero emissions.
CEIF investment priorities
Clean energy transition
- Low cost renewables, decentralised generation, widespread electrification
Mobility and smart cities
- Multiple modes of transportation, optimised built environment, focus on embodied carbon
Food and agriculture
- Supply chain redefined to feed more with less, enrich and build resilient soils
Circular economy and industry
- Efficient production, industrial improvements, reuse and recycle to address the waste crisis
The CEFC provides the following guidelines for the term “low emission technologies” for the purposes of section 60 (Clean energy technologies) of the Clean Energy Finance Corporation Act 2012 (CEFC Act).
Low emission technologies may be applied to a number of activities including, but not limited to, the following (and includes enabling technologies):
- energy production
- electricity generation including the use of non-renewable, fossil fuels
- fuels for and modes of transportation
- using, reducing or eliminating existing greenhouse gasses or emissions.
The CEFC Board expects that, the low emission technology will result in emissions of CO2-e being substantially lower than the current average of the most relevant baseline for the activity being undertaken.
To satisfy this test a proponent must demonstrate that:
- if the technology is solely for electricity generation: it will achieve or enable an emissions intensity of less than 50% of the existing generation system as connected to the transmission network/grid, or where not connected to a grid, less than 50% cent of the emissions intensity of the baseline activity
- if the technology is not solely for electricity generation: it will achieve or enable useful life emissions at 50% less than the relevant current average baseline of the activity being undertaken
- for a technology not solely for electricity generation: that does not achieve the useful life emissions at 50% less than the relevant current average baseline of the activity being undertaken, the technology achieves (or has demonstrable ability to achieve) or enables meaningful aggregate emission reductions and other positive externalities.
Prohibited technologies
Low emission technologies exclude “prohibited technology” as described in the CEFC Act, s62 (Prohibited technology), namely:
- a technology for carbon capture and storage (with the meaning of the National Greenhouse and Energy Reporting Act 2007)
- nuclear technology
- nuclear power.
Other CEIF important details that you will need to know
Organisations eligible for CEIF support
The CEIF invests in companies with experienced and capable management teams, a competitive edge in technology and innovation, and the potential for both domestic and global market application of their technologies and solutions.
The CEFC Board will have regard to the following circumstances, conditions and/or other matters (as relevant) when determining whether an investment is “solely or mainly Australian-based” for the purposes of section 61 (Australian-based investments) of the CEFC Act:
- where the relevant project will be primarily located
- where the relevant project will be primarily used or exploited
- where the activity being funded by the investment will be primarily undertaken
- where the expenditure for the project will be primarily incurred
- where the intellectual property related to the project will be primarily located
- where the project’s management will be primarily located
- where the project’s operational activities will be primarily located
- whether (and to what extent) any benefits will flow to Australia (including, without limitation; carbon abatement, expertise, technological and/or economic benefits) in a manner consistent with the object of the CEFC Act and functions of the CEFC there under
- the nature of the investment recipient’s nexus (or proposed nexus) with Australia, including without limitation, the current or future location of its assets, employees, costs and/or revenues and whether it is (or plans to be) registered with the ATO with an Australian Business Number (ABN)
- any other matters the CEFC Board deems appropriate in the circumstances.
How do I get the CEIF?
Applicants must:
- Read and understand the guidelines.
- Ensure eligibility for the funding. Applicants that do not meet all the eligibility criteria will not be considered.
- Deliver the project as outlined in the application.
- Provide complete information requirements.
Applying for the CEIF
See the website source at www.cefc.com.au for more information on how to receive investment.
Register your interest here with GrantHelper to explore your alignment with this grant and how we can assist you to increase your chances of success.
CEIF resources
I need help applying for grants
Our Insights showcase some of the grant-winning methods we employ at GrantHelper, and they will help you create a stronger grant application. But no matter how well prepared you are, winning grants takes time—something we know many business owners and directors just don’t have. And that’s why we’re here to help.
- Check out our How to Prepare Before You Apply insight to help you reduce the stress levels when you apply for a grant.
- Check out How to write a successful grant application to learn some time-saving tips to make the grant writing process easier.
GrantHelper can assist with your organisation’s next grant application, no matter what stage of the funding journey you’re at.
Our in-depth eBook is the single most valuable resource you will find that helps organisations to truly understand how to win government grants.
Download our eBook to discover grant-winning secrets
Our free eBook features 10 chapters of expert advice, professional tips and more to help you do better with grants, whether you’re new to the process or you’ve applied before.
Get your copy of the Guide to Winning Grants now.
Is your business eligible for this government grant?
Or perhaps you’re not sure and want to know more?
GrantHelper offers a range of government grant services, helping businesses of all sizes to discover, apply for, and win the best grant opportunities. We can help you with anything from finding the right grants, to writing your application, formulating an ongoing grant strategy, and more.
Get started now by filling in the form below, or tap the ‘Book a Discovery Call’ button to schedule a no-obligation virtual meeting with an experienced government grants consultant.
Prefer to talk? Call 0409 478 850 now for a no-obligation discussion. We’re here to help your business better understand grants, submit your best possible application, and get you in the winners’ circle.
Check out some of the clients we’ve helped and what they had to say about us.
