The Australian Government has created a AUS$200m Clean Technology Innovation Program to provide grants for Australian businesses that come up with innovative ways of reducing greenhouse gas emissions.
Australia’s Minister for Industry and Innovation Greg Combet launched the programme on 6 July.
According to the Australian government, the AUS$200m programme will support applied research and development, proof of concept and early stage commercialisation activities that lead to the development of new clean technologies, as well as low-emission and energy-efficient solutions.
The programme will provide grants between AUS$50,000 and AUS$5m on a co-investment basis of $1 of government funding for each $1 of the applicant’s investment. This means the Australian government will fund up to 50pc of the project cost.
Speaking at the launch of the programme, Combet spoke about how the programme will be "an important part of the Gillard Government’s plan for a clean energy future", with the aim of creating new business opportunities, new industries and new jobs.
"We are looking for innovative projects involving applied research and development, proof of concept or early stage commercialisation activities.
"The aim is to develop new clean technologies and associated services, including low-emission and energy-efficient solutions that reduce greenhouse gas emissions," said Combet.
The types of projects that could qualify for grant support, according to the Australian government, include those that centre on solar, wave, tidal, hydro, wind energy or geothermal power.
The government also pointed to how innovation in biofuels, cogeneration and low-emission uses of coal could also be supported.
"It is about getting new products and services into the marketplace so households and businesses can reduce greenhouse gas emissions and prosper in a low-carbon global economy," Combet said.
The programme is now open.
Check out our video featuring the chairman of the Climate Bonds Initiative, Sean Kidney, himself an Australian, who spoke about Ireland’s clean-energy opportunities at an international sustainability summit that was held in Ireland last week.
Wind energy image via Shutterstock