The latest round of federal government manufacturing grants has seen 19 Victorian manufacturers share in $94 million.
Industry Minister Angus Taylor announced the Modern Manufacturing Initiative grants on Tuesday, with $67.5 million going towards renewables, recycling, and other supply chain products and the remaining $26.5 million shared among six food manufacturers.
The grants are part of the second round of the Integration and Translation streams of the Modern Manufacturing Initiative. The government earlier this week announced $48 million in grants from this round for South Australian manufacturers, with $138 million still to be announced.
The Integration stream offers funding to companies looking to access domestic and global supply chains and produce and distribute products and services to new markets, while the Translation stream is for manufacturers looking to translate research and ideas into commercial outcomes.
Mr Taylor said the funding would boost the already strong manufacturing sector in the state.
“Victoria has long been the centre of Australian manufacturing and remains a key source of revenue and jobs for the Victorian economy. Victorians have been strong and resilient in the face of a number of COVID-19 related lockdowns which posed real challenges to these manufacturers,” Mr Taylor said.
“That’s why we are backing our manufacturers to grow their business, create more jobs, more exports and more investment. The ability to make the things our country needs is a key part of the Morrison Government’s plan for a stronger economy and a stronger future.”
The announcement was made by Mr Taylor on Tuesday at the production facility of advanced manufacturing business Carbon Revolution, which will receive up to $12 million. Carbon Revolution is undertaking a $33 million project to expand its manufacturing of carbon fibre wheels for cars by 94 per cent or an additional 75,000 a year. It will also reduce the cost per unit by 60 per cent.
Carbon Revolution is in a research and development partnership with Deakin University, with the firm based at the university’s Waurn Ponds campus. It is expected that 323 additional jobs will be created by this investment.
On the renewables front, the grants include $5.3 million for Energys Australia to manufacture hydrogen fuel cell products, $7.1 million for Selectronic Australia to develop solar products, and $8.7 million for Wilson Transformers to increase its manufacture of HV transfomers, a key input to renewable and battery technology.
The largest grant in this round of funding went to Advanced Recycling Australia. The firm will receive $12 million to construct a recycling facility that converts waste plastic into Plasticcrude, a feedstock that can be used to make food grade plastic.
Cable and harness manufacturer Cablex also received $4.9 million to supply the space industry. The money will be used for electrical wiring interconnection systems and electronic sub-assemblies, built to meet the specific needs of its customers.
The Modern Manufacturing Initiative is part of the federal government’s $2.6 billion Modern Manufacturing strategy.
Do you know more? Contact James Riley via Email.