Nova Scotia’s Forestry Innovation Transition Trust Announces Funding for Two New Projects

On Thursday (4-20-23), trustees of the Forestry Innovation Transition Trust (FITT) announced two more projects, totaling more than $2.5 million (CAD), have been approved.

1. The Verschuren Centre for Sustainability in Energy and the Environment is receiving $926,500 to further support the development of the Bio-technology and Bio-manufacturing Acceleration Center in Sydney. It aims to advance commercialization of key forestry and biomass sector innovative technology companies.
2. Research Nova Scotia will receive about $1.6 million for a project to assist the forestry sector as it transitions to the ecological forestry model. The five-year research and knowledge mobilization program will be led by Dalhousie University.

According to Rosalind Penfound, chair of FITT, “These two projects are excellent examples of using innovation to support Nova Scotia’s forest industry and transition it for the future. The projects, together with previously funded projects, are helping to strengthen the sector and ensure it’s sustainable for the long term.”

FITT funds may be used by companies, organizations, or post-secondary institutions working and researching forestry and biological resource sectors, and by forestry workers to access funding for training. The three FITT trustees review the submissions and make spending decisions.

To date, the FITT has committed more than $28 million of the $50 million fund.