Financing for Projects & Technology

The Climate Catalytic Capital (C3) Fund

The Climate Catalytic Capital (C3) Fund was established with passage of the Climate Solutions Now Act (CSNA) of 2022, It’s purpose is to increase implementation of clean energy measures and technologies intended to reduce greenhouse gas emissions and mitigate the effects of climate change.

An allocation of $15M over three fiscal years is committed to the C3 Fund beginning in FY24. This fund is intended to be leveraged further with additional investments of private capital for projects and programs. A minimum of 40% of the C3 Fund’s investments are to be targeted to assist low-income households and communities throughout the state to access decarbonization solutions and strategies.

Individuals, businesses, and organizations eligible to apply must be in good standing with the Maryland Department of Assessments & Taxation with an active Federal Tax ID or Social Security number, and will be required to complete and submit a IRS W-9 form.

View the Eligibility & Investment Criteria and C3 Fund Investment Guidelines.

Applications will be accepted on a rolling basis.

View C3 Fund Application

Additional Considerations Include:

  • Not more than 5% of the fund balance may be used for administrative purposes
  • The fund may not be used to install new equipment that uses fossil fuels or improve the efficiency of existing equipment that uses fossil fuels

C3 Fund Investment Oversight Committee Membership & Meetings

An Investment Oversight Committee (IOC), appointed by the Maryland Clean Energy Center Board of Directors, will manage the fund. The IOC will determine fund use and distribution using approved Guidelines and may engage contracts for service as needed. Meetings of the IOC are currently scheduled bi-monthly and are held in accordance with Maryland Open Meetings Act regulations.

Investment Oversight Committee (IOC)

Potential project and investment partners interested in learning more about the fund and how to apply can view the C3 Fund Application Overview Webinar Recording and slide deck.

MCEC staff will also be available on an ongoing basis to provide technical assistance to complete fund applications.

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