HCi3

What HCi3 does

HCi3 (Halifax Climate Investment, Innovation and Impact Fund) is a privately-held climate investment fund headquartered in Kjipuktuk (Halifax), Nova Scotia, and operating as a subsidiary of EfficiencyOne within the federally established Low Carbon Cities Canada (LC3) Network. The organization deploys capital toward net-zero initiatives in the Halifax region through a portfolio of four core programs: the Accelerating to Zero grant program (awards of $5,000-$75,000 for community climate projects), the Impact Investing program (equity and loans in scalable climate-solution companies), the Deep Retrofit Accelerator Initiative (DRAI, executed in partnership with the ReCover Initiative), and the EV Forward program (electric vehicle charging infrastructure expansion in partnership with the Province of Nova Scotia, Halifax Regional Municipality, Nova Scotia Power, Clean Foundation, and EfficiencyOne). The fund explicitly integrates equity, reconciliation, and community-benefit criteria into its investment and grant decisions, prioritizing African Nova Scotian and Mi'kmaw communities alongside general decarbonization goals.

HCi3's revenue model is that of a fund administrator rather than a product or services company: capital is sourced from government bodies (notably a $7.5M Province of Nova Scotia contribution and a $16.5M federal award routed through ReCover for 2024-2027), private foundations (Trottier Family Foundation $150,000), and corporate partners (RBC Community Investments $250,000), and is redeployed as grants, loans, and equity stakes. Documented investments include a $1,000,000 equity stake in Oberland Agriscience Inc. (the fund's largest to date, in black soldier fly larvae biotech producing low-carbon animal nutrition and insect-derived fertilizer) and a $500,000 loan to the ReCover Initiative for Atlantic Canada deep retrofits. Grant recipients span non-profits, community organizations, social enterprises, and early-stage companies across solar, building retrofits, recycled-material construction, ocean alkalinity enhancement, and electric thermal storage. HCi3's reach is explicitly regional — Halifax/Kjipuktuk and Atlantic Canada — with no global footprint claim.

The technology stack is non-proprietary: HCi3 operates a Squarespace-hosted marketing and grant-application website, has no API, no in-house models, and no patents, and outsources technical execution to investees and delivery partners. Recipients and partners cited include Oberland Agriscience (biotech), JD Composites/The Shaw Group (recycled-plastic modular housing), ReCover Initiative (retrofit program operator), Delmore "Buddy" Daye Learning Institute (solar resilience), and Halifax Chamber of Commerce (small-business energy advisory). The organization is led by Executive Director Sarah Chiasson with a small named team (Director, Strategic Initiatives Julia Sable; outreach/communications roles held by Naomi Ibiama and Ibiene Ibiama). HCi3's competitive position rests on its institutional parent (EfficiencyOne), federal-mandate membership in the LC3 Network, depth of community relationships within Mi'kma'ki and African Nova Scotian constituencies, and a growing coalition of co-funders and delivery partners across government, philanthropy, and corporate Canada.

Name

HCi3

Legal name

Halifax Climate Investment, Innovation and Impact Fund

Website

https://hci3.ca

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

HCi3 is a Halifax-based climate investment fund that deploys grants and impact investments (equity and loans) to support net-zero, equity, and reconciliation initiatives in the Halifax/Kjipuktuk region of Nova Scotia, operating as a subsidiary of EfficiencyOne and member of the LC3 Network.

Ownership category

akta.pro rank

Product category

Climate Investment Fund

NAICS

Other Financial Investment Activities (5239), Other Financial Vehicles (525990)

akta.pro primary industry

Carbon Markets & Climate Finance (Offsets, Allowances, Carbon Funds) (FSAAALAH)

akta.pro secondary industries

Carbon Finance & Investment Advisory (Project Finance, Funds, SPVs) (EUABADAD), Climate Finance Strategy (CapEx planning, green finance, incentives & grants) (EUABAKAG)

Keywords

• Climate investment fund
• Impact investing
• Carbon reduction grants
• Clean energy financing
• Building retrofit financing

Headquarters

HQ city

Halifax

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Grant Funding: HCi3 distributes grant funding to innovative climate projects through its Accelerating to Zero grant program, supporting carbon reduction initiatives in Halifax/Kjipuktuk. Grants range from $5,000 to $75,000 and are provided to non-profits, community organizations, and enterprises working on climate solutions.
2. Impact Investing: HCi3 provides impact investments including equity investments and loans to support scalable climate solutions. Examples include $1,000,000 equity investment in Oberland Agriscience and $500,000 loan to ReCover Initiative. The fund seeks novel financing structures to accelerate measurable, equitable climate solutions.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

HCi3 is a regional climate investment fund that deploys capital into carbon reduction initiatives in the Halifax/Kjipuktuk region through grants (Accelerating to Zero, $5,000–$75,000) and impact investments (equity and loans, with individual deals up to $1,000,000). The fund invests in low-carbon solutions such as solar energy, EV charging, building energy retrofits, recycled-material construction, biotech, and community-based climate projects, while integrating equity, reconciliation, and shared community benefit into its portfolio.

Product overview

HCi3 (Halifax Climate Investment, Innovation and Impact) Fund is a climate investment organization that operates as a subsidiary of EfficiencyOne and member of the Low Carbon Cities Canada Network. Rather than a unified software platform, HCi3 offers a portfolio of funding programs including the Grant Program (Accelerating to Zero grants), Impact Investing financing, the Deep Retrofit Accelerator Initiative (DRAI) in partnership with ReCover, and the EV Forward electric vehicle infrastructure program. The organization makes direct investments in climate technology companies and supports community climate projects across Halifax/Kjipuktuk and Nova Scotia to advance Canada's goal of net-zero emissions by 2050.

Differentiator

Problem solved

Functional benefit

Brands

• Grant Program: Supports innovative projects that help Halifax/Kjipuktuk reach its goal of becoming net-zero by 2050 through a just and equitable low-carbon transition
• Impact Investing
• Deep Retrofit Accelerator
• EV Forward

Products and services

• Grant Program (Accelerating to Zero) HCi3's flagship grant program that funds innovative climate projects in Halifax/Kjipuktuk with awards of $5,000 to $75,000, targeting non-profits, community organizations, and enterprises working on local carbon-reduction initiatives. Also referred to as the Accelerating to Zero grant program.
• Impact Investing HCi3's Impact Investing program provides equity and loan financing to scalable low-carbon solution companies that reduce greenhouse gas emissions, support a just transition, and positively impact communities. Examples include a $1,000,000 equity investment in Oberland Agriscience and a $500,000 loan to ReCover Initiative.
• Deep Retrofit Accelerator Initiative (DRAI) A program delivered in partnership with the ReCover Initiative that accelerates deep energy retrofits in commercial, institutional, and multi-unit residential buildings across Atlantic Canada and in Indigenous community housing, with HCi3's role focused on expanding access to and understanding of financing options for building owners.
• EV Forward (Accelerating Electric Vehicle Infrastructure in Nova Scotia) HCi3's electric vehicle infrastructure program, designed to foster community and industry partnerships, contribute to capital costs in strategic locations, and develop tools and resources to support charger installation across Nova Scotia, prioritizing engagement with Mi'kmaw and African Nova Scotian communities.

Quantifiable outcome

• 170,000 tonnes CO2eq per year emissions reduction (estimated at Oberland Agriscience full production)
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

15 partnerships are on record, tiered core, major and minor.

• ReCover InitiativecoreStrategic or Co-development Partner · 18 July 2024HCi3 partners with ReCover on the Deep Retrofit Accelerator Initiative (DRAI). HCi3's role focuses on increasing understanding and access to financing options for building owners to advance deep retrofits in Atlantic Canada. Government of Canada awarded $16.5 million to ReCover for DRAI implementation (2024-2027).
• Low Carbon Cities Canada (LC3) NetworkcoreStrategic or Co-development PartnerHCi3 is a member of the Low Carbon Cities Canada (LC3) Network established by the Government of Canada. This network supports climate investment at the local level across Canada.
• EfficiencyOnecoreStrategic or Co-development PartnerHCi3 is a subsidiary of EfficiencyOne, which provides organizational support and connection to energy efficiency expertise.
• Clean Economy FundmajorStrategic or Co-development PartnerPartnered with HCi3 on the EV Infrastructure Acceleration program. CEO Eric Campbell noted support for overcoming barriers to clean transportation in Nova Scotia.
• Province of Nova ScotiamajorStrategic or Co-development PartnerCollaborated with HCi3 on EV Infrastructure Acceleration initiative, building on work happening across Nova Scotia.
• Halifax Regional MunicipalitymajorStrategic or Co-development PartnerCollaborated with HCi3 on EV Infrastructure Acceleration initiative, working together on sustainable transportation transition.
• Nova Scotia PowerminorStrategic or Co-development PartnerPartner in EV Infrastructure Acceleration initiative, contributing to regional charging access development.
• Clean FoundationmajorStrategic or Co-development PartnerCollaborated with HCi3 on EV Infrastructure Acceleration initiative. Also partnered on Next Ride EV program with One North End.
• Tribe NetworkmajorStrategic or Co-development PartnerCo-hosted the Youth Climate Pitch Competition with HCi3 to support racialized youth in Nova Scotia in participating in the clean economy.
• One North EndmajorStrategic or Co-development PartnerKey community partner working with African Nova Scotian communities on climate action, EV awareness, and deep retrofit training. Multiple collaborative projects funded by HCi3.
• The Shaw GroupminorStrategic or Co-development PartnerPartner with JD Composites on Prefab Homes Nova Scotia project, bringing experience in industrial manufacturing and construction materials to help scale the recycled plastic panel technology.
• North Preston Medical SocietyminorStrategic or Co-development PartnerPartner on North Preston Day Care Centre deep retrofit project, advancing plans to cut energy use by up to 76% and GHG emissions by 60%.
• Union of Nova Scotia Mi'kmaqmajorStrategic or Co-development PartnerProject partner in Deep Retrofit Accelerator Initiative, working on housing within Indigenous communities in Atlantic Canada.
• Building to Zero ExchangeminorStrategic or Co-development PartnerProject partner in Deep Retrofit Accelerator Initiative, supporting industry capacity building for net-zero buildings.
• Net Zero AtlanticmajorStrategic or Co-development PartnerServes as secretariat for Building to Zero Exchange, a center of green building excellence in Nova Scotia supported by HCi3 grants.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• ReCover Initiative: Atlantic Canada non-profit accelerating deep energy retrofits in buildings, which HCi3 funds and partners with on the DRAI program. Operates in the same Atlantic Canada geography and building-decarbonization focus as a significant portion of HCi3's portfolio.
• Renewal Funds: Vancouver-based impact venture fund investing in climate and sustainable food companies. Directly comparable to HCi3's Impact Investing program in deploying equity into mission-driven climate businesses, with similarly modest check sizes and Canadian focus.
• Cycle Capital: Quebec-based cleantech venture capital firm investing in North American climate solutions. Comparable to HCi3's Impact Investing thesis in funding growth-stage climate companies, though operating with larger fund sizes and broader geography.
• Foresight Canada: Canadian cleantech accelerator and venture investor supporting climate solutions across sectors. Comparable to HCi3 in deploying capital and capacity-building support into Canadian climate startups, though operating at a national rather than regional scale.
• Low Carbon Cities Canada (LC3) Network: Federally established network of city-level climate investment funds of which HCi3 is a member. Sister funds in other Canadian cities operate with the same grant-and-impact-investing model, making LC3 both a parent network and a pool of direct peer funds.
• The Atmospheric Fund (TAF): Toronto-based municipal climate fund that deploys grants and investments to accelerate low-carbon solutions in the Greater Toronto and Hamilton Area. Directly comparable to HCi3 in mandate, structure (grant + impact investing programs), and regional focus on a single Canadian city, making it the closest peer.
• Efficiency Capital: Canadian climate-focused fund providing financing solutions for building decarbonization and clean energy projects. Directly comparable to HCi3's Deep Retrofit Accelerator focus and Impact Investing in climate infrastructure, with similar blend of debt and grant-like capital.

Broad incumbents

• Sustainable Development Technology Canada (SDTC): Federal Canadian fund that supports clean technology development and deployment through grants and follow-on capital. Broader incumbent version of HCi3's model—national mandate, larger pool of capital, and longer history of funding cleantech ventures across Canada.
• Federation of Canadian Municipalities - Green Municipal Fund: National Canadian program offering grants and low-interest loans to municipalities for environmental infrastructure and sustainability projects. Comparable to HCi3's building-retrofit and climate-infrastructure focus but operating nationally across all Canadian municipalities.
• MaRS Discovery District - Climate Impact stream: Toronto-based innovation hub that supports climate and clean technology ventures through capital, advisory, and ecosystem programming. Broad incumbent comparable to HCi3 in supporting Canadian climate entrepreneurs, but at much larger scale and broader mandate.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HCi3