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

This Phase I Application will collect information about your company to help us assess your qualifications for GGRF funding and alignment with Elemental’s investment priorities. There is an optional section at the bottom of the application to submit specific project information. While not required, we encourage you to submit this information if available to help us more quickly evaluate your funding request. Companies that are a potential fit will be invited to submit a Phase II Application that will require specific project level information.

See here for additional information about NICF funding through Elemental.