The Greenhouse Gas Reduction Fund (GGRF) is a $27 billion program created by the Inflation Reduction Act and administered by the Environmental Protection Agency (EPA). It aims to mobilize financing for projects that reduce greenhouse gas emissions and other air pollutants and deliver benefits to American communities, particularly those that are low-income or disadvantaged.

Elemental is a subawardee under the National Clean Investment Fund (NCIF), a GGRF program. As an NCIF subawardee, Elemental will deploy $100 million in accessible, affordable financing for qualified clean technology projects. We will consider a variety of financial products to best achieve NCIF goals and meet project needs, including project debt and equity, corporate equity, and hybrid securities.

Elemental can only make NCIF investments in projects that meet the qualification criteria defined by the EPA. 

Projects eligible for NCIF funding must:

1. Reduce greenhouse gas emissions
2. Reduce other air pollutants
3. Deliver additional benefits to communities
4. Meet the requirement that it may not have otherwise been financed
5. Mobilize private capital
6. Support only commercial technologies

The Phase 1 Application will collect information about your company to help us assess your qualifications for GGRF funding and alignment with Elemental’s investment priorities. Companies that are a potential fit may be invited to submit a Phase 2 Application that will require specific project-level information.

If your company does not yet have a project to propose, we encourage you to fill out the Stay in Touch form to stay connected with us for future funding opportunities.

See here for additional information about NCIF funding through Elemental.