$1 billion funding for clean technology grants
The Federal Government has launched two new programs with funding of $1 billion for manufacturers to improve energy efficiency and reduce pollution.
The Clean Technology Investment Programs will provide grants to help manufacturers buy new plant and equipment which cuts their energy costs or reduces carbon pollution.
The $800 million Clean Technology Investment Program and the $200 million Clean Technology Food and Foundries Investment Program are part of the Clean Energy Future package.
Co-contribution requirements have been changed to make the grant programs more attractive for small and medium-sized firms. Manufacturers with turnovers of less than $100 million requesting funding under $500,000 will now only have to match the government grants on a dollar for dollar basis.
For all other grants under $10 million, applicants will be required to contribute $2 for every $1 from the Government.
For grants of $10 million or more, applicants will be expected to make a co-contribution of at least $3 for each $1 of Government support.
The Clean Technology Investment Programs demonstrate the Gillard Government's commitment to Australian manufacturing.
Projects that can be supported include switching to less carbon intensive energy sources or installing new manufacturing equipment, processes and facilities to reduce energy consumption and carbon emissions.
Information sessions on the Clean Technology Programs will be held around Australia from March. Eligible manufacturers can apply for funding under the programs immediately.
For more information visit www.ausindustry.gov.au or call the AusIndustry Hotline on 13 28 46.