New Nova Scotian fund to reduce aquaculture greenhouse gas emissions

The 'Fisheries and Aquaculture Energy Efficiency Innovation Fund' consists of $6.5 million in a three-year program.
Fishing boats are seen in Yarmouth County this spring.

Fishing boats are seen in Yarmouth County this spring.

Communications Nova Scotia

Nova Scotia has presented the new 'Fisheries and Aquaculture Energy Efficiency Innovation Fund' to reduce greenhouse gas emissions produced by boats, buildings, and other commercial fisheries and aquaculture operations. The funding, which also will promote the adoption of clean technology in the sector, consists of $6.5 million in a three-year program.

Precisely, the Government of Nova Scotia has indicated that the proposal projects will include emerging electric and hybrid technology for fishing vessels and fleet proposals, the installation of renewable energy systems, equipment upgrades, and future emission-reduction research projects

Regarding this initiative, the Minister of Fisheries and Aquaculture, Kent Smith said: "Our industries are already leaders in fighting climate change through the investments they’re making to reduce energy use. With this new funding, they’ll be able to do even more to build a sustainable future and grow while helping Nova Scotia get to net zero."

Additionally, the Nova Scotia Fisheries and Aquaculture Loan Board will offer $10 million over three years in dedicated lending so applicants can access a loan with reduced interest rates. Also, the Department of Natural Resources and Renewables will support the fund with $2 million.

Two projects are already benefiting from the fund

Two demonstration studies on electric vessel conversion are already being funded:

  • Glas Ocean Electric, Halifax, will receive $198,000 to work with industry in northern Nova Scotia and Cape Breton.

  • Ignite Atlantic, a Yarmouth-based rural innovation hub, will receive $150,000 to support the sector in Digby and Sheet Harbour.

According to Stephen MacDonald, EfficiencyOne President and CEO, the non-profit operator of Efficiency Nova Scotia, "investments in energy efficiency will lower costs, increase competitiveness and further position the sector as a global leader."

Finally, the Nova Scotia Seafood Alliance Executive Director Kris Vascotto expressed satisfaction regarding the fund: "Today’s announcement will guarantee that this good work will go on and the Nova Scotia shore-based fish and seafood sector will continue to be leaders in this important work from their operations that feed a growing world."

Canada's seafood industry aims to grow to 25 billion dollars by 2035, according to Canada's Ocean Supercluster (OSC). Both aquaculture and wild fisheries will be responsible for driving this growth.

Related Stories

No stories found.