The Climate Catalytic Capital (C3) Fund
The Climate Catalytic Capital (C3) Fund was established with the passage of the Climate Solutions Now Act (CSNA) of 2022 to leverage private capital investment in technology development and deployment, including project planning, to reduce greenhouse gas emissions and address climate impacts as further described below. By statute, at least 40% of the Fund balance in each fiscal year is reserved for qualified projects in communities with low- to moderate-income households. MCEC may also deploy C3 Fund capital through other pathways, as explained in the C3 Fund Investment Guidelines.
Have questions about the C3 Fund? Contact the MCEC finance team for more info.
What the C3 Fund Finances
The C3 Fund finances qualified projects, which are projects that advance the purposes of the Fund under Section 10-855(b) of the Maryland Economic Development Article. Qualified projects include renewable energy, energy efficiency and building decarbonization, energy storage and resilience, clean transportation, and climate technology. Financing for qualified projects is offered through four investment windows:
- Investment Window 1: Short-term bridge loans for qualified projects with a defined repayment source
- Investment Window 2: Line of credit for companies with a portfolio of qualified projects
- Investment Window 3: Feasibility grants that fund early-stage analysis for qualified projects.
- Investment Window 4: Term financing for qualified projects and companies that repay from operating cash flow, contracted revenue, or capital raise.
How to Apply
All four investment windows share a single application, which replaces the separate applications used in the prior round. The application asks which type of financing you are seeking and shows only the sections that apply to your request. Terms, requirements, and the application link are on the application page.
Key Dates:
- September 29, 2026 – Informational Webinar: Join MCEC staff for a walkthrough of the C3 Fund, the four investment windows, and the application.
- September 30, 2026 – Application Opens: The C3 Fund begins accepting applications submitted through the online system.
- December 31, 2026, 5:00 p.m. ET – Application Closes: All four investment windows close.
For more information, register for the informational webinar on September 29 at 10:00 AM, or visit the C3 Fund FAQ page.
C3 Fund Investment Oversight Committee
An Investment Oversight Committee (IOC), appointed by the Maryland Clean Energy Center Board of Directors, oversees the Fund. The IOC determines C3 Fund use and distribution using approved C3 Fund Investment Guidelines and Priorities. Meetings of the IOC are currently scheduled every other month and are held in accordance with the Maryland Open Meetings Act.