The NSW Government has announced a $550 million commitment to supporting manufacturing industries to develop renewable energy and low carbon products.
This support will be administered through two funding initiatives:
1. Low Carbon Product Manufacturing Fund
This fund has a total of $300 million and is offering funding support between 2023 and 2032 for projects focused on the manufacturing of low carbon and zero emission products using commercialised technology. Eligible example projects include green chemicals, power fuels, agricultural projects, low emissions building materials.
2. Renewable Manufacturing Fund
This fund has a total of $250 million and is offering support between 2023 and 2027 to fund projects focused on the manufacturing of plant, equipment and processes needed to produce renewable energy and low carbon products (including electric vehicles) using commercialised technology.
Eligible example projects include electrification equipment to support switching from fossil fuels to electricity, electric vehicle components, hydrogen electrolysers.
Application details
Registration of Interest has already opened for both funds. To be on the front foot, now’s the time to consider whether you will be eligible and prepare compelling materials to maximise your chances of receiving funding.
Eligible applicants will need to hold an Australian Business Number (ABN), be a company incorporated in Australia, limited by guarantee, incorporated trustee or association, and hold $20 million Public Liability Insurance.
More program details can be found here.
