$15 Million Climate Catalytic Capital Fund Launched

Today, the Maryland Clean Energy Center (MCEC) is launching the Climate Catalytic Fund (C3 Fund), to support projects that implement clean energy measures and technologies intended to help reduce greenhouse gas emissions and mitigate the impact of climate change.

With $15 million to distribute over three fiscal years, MCEC will support projects and investments with a special focus on assisting low-income households and communities by committing to distribute a minimum of 40% of all funds to these projects.

Fund investments, authorized through the Maryland Climate Solutions Now Act passed in 2022, are intended to support implementation of clean energy and technology solutions, but cannot be used to install new equipment or improve the efficiency of existing equipment that uses fossil fuels. For a full list of the types of eligible investments and clean energy solutions that qualify, visit www.mdcleanenergy.org/c3fund.

Potential project and investment partners interested in learning more about the fund and how to apply should attend the C3 Fund Application Overview with Program Q&A webinar on March 7 at 10:00 AM. MCEC staff will be also be available on an ongoing basis to provide technical assistance to complete fund applications.

The C3 Fund Investment Oversight Committee is chaired by Maryland Comptroller Brooke Lierman, appointed along with a diverse group of committee members with related qualifications and experience. MCEC is currently soliciting the services of a financial advisory firm to help manage and grow the fund. Responses to the Request for Proposals: MCEC C3 Fund – Investment Banking, Underwriting and Advisory Services are due on March 26, 2024.

The Maryland Clean Energy Center (MCEC) was created to fund and facilitate a clean energy future. To fulfill its mission MCEC offers procurement and technical support for project development, provides access to capital, engages in consumer education, and fosters climate tech innovation to advance the adoption of clean energy and energy efficiency products, services and technologies.

Published February 26, 2024