A new £5 million Low Carbon Grant Fund to help Cornish businesses reduce their carbon footprint has been launched.
Josie Gough, from the Convergence secretariat, explained: “The purpose of the fund is to enable private sector businesses in Cornwall and the Isles of Scilly to realise some of their low carbon ambitions.
“Through the fund, ERDF Convergence will support investments in operations that will have a significant impact on reducing carbon impact and increasing energy and resource efficiency.”
She continued: “The overall objective is to offer grants that both help businesses to invest in reducing their carbon footprint but the fund should also have a wider impact on the economy of Cornwall and the Isles of Scilly.
“These wider benefits could include a demonstrable impact on the local supply chain, ‘firsts’ for Cornwall, dissemination of good practice and, where appropriate, links with other Convergence investments such as the Environmental Sustainability Institute (ESI) at Exeter University.”
The call for applications will be launched on April 25 and will be followed by a workshop to provide more information and to respond to questions from potential applicants.
Applications for between a minimum of £70k of Convergence investment up to a maximum of £1 million can be made. In all cases this investment must be matched by the applicant at a rate that will be dependent upon the size of business and project proposal.
It is anticipated that successful contracts will be issued in the autumn.
The process will be managed by the Convergence team at Cornwall Council.