Australian state launches $200m cleantech program
The Australian government has launched a $200 million merit-based grants program designed to encourage businesses to find innovative ways of decreasing greenhouse gas emissions.
Greg Combet, minister for industry and innovation, announced the Clean Technology Innovation Program program last Friday in New South Wales.
"This is an important part of the Gillard government's plan for a clean energy future and will help create new business opportunities, new industries and new jobs," Combet said. "We are looking for innovative projects involving applied research and development, proof of concept or early stage commercialization activities.
The aim is to develop new clean technologies and associated services, including low emission and energy efficient solutions that reduce greenhouse gas emissions.
The types of projects which could be supported include those which generate energy from wind, solar, wave, tidal, hydro or geothermal power. Innovation in biofuels, cogeneration and low emissions uses of coal could also receive capital. The program will also help companies that develop and commercialize technologies to improve energy efficiency in water treatment and waste management.
Grants will range from $50,000 to $5 million, with the government funding up to 50% of a project's costs.
Last year, the Australian government upped its backing of the country's renewable energy category by making an A$100 million ($106 million) investment into the Renewable Energy Venture Capital Fund (REVCF), allocated from the federal budget.
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