Via Provincial release:
Nova Scotia is helping its fishing industry become more environmentally friendly with a new fund called the Fisheries and Aquaculture Energy Efficiency Innovation Fund. The government is investing $6.5 million over three years to support projects that reduce greenhouse gas emissions from fishing and aquaculture operations.
The fund will help pay for new technologies like electric and hybrid boats, renewable energy systems, and other equipment to make operations more energy efficient. Two initial projects are getting funding: Glas Ocean Electric in Halifax will get $198,000 to work on electric boats, and Ignite Atlantic in Yarmouth will receive $150,000 for similar projects in Digby and Sheet Harbour.
Minister of Fisheries and Aquaculture Kent Smith said the fishing industry is already working hard to fight climate change, and this new fund will help even more. Stephen MacDonald from EfficiencyOne, a group that helps businesses save energy, said these investments will lower costs and make the industry more competitive.
The Nova Scotia Fisheries and Aquaculture Loan Board is also offering $10 million in loans at reduced interest rates to make these projects easier to afford.
The fund is part of Nova Scotia’s larger plan to reduce energy use and fight climate change. The goal is to cut greenhouse gas emissions by at least 53% by 2030 and reach net zero emissions by 2050.