The Australian Government has finalised contracts for $385 million in project grants under the Modern Manufacturing Initiative Collaboration Stream.
These grants will help Australian manufacturers work together on nine large projects worth $1.87bn. Successful businesses receive funding for up to a third of their project costs.
Successful projects include establishing an Australian vanadium battery industry, building a facility to turn landfill waste into energy, and making Australia a regional hub for cancer drugs and health analytics.
These projects will help build Australia’s manufacturing sector and supply chains.
Eight grant proposals were originally approved for funding under this stream. These aren’t proceeding because they no longer meet the conditions of the program.
The Collaboration stream is the largest grant program under the $1.3bn Modern Manufacturing Initiative (MMI). Grants between $20m and $200m and up to one-third of eligible project costs, are awarded to large projects that feature or will create an environment that fosters collaboration.
Successful projects will help transform the manufacturing industry by increasing collaboration and building economies of scale in the six National Manufacturing Priority areas.
The following projects are announced:
Gilmour Space Technologies will receive a grant worth over $51.4m;
SAAB Australia will receive a grant worth over $22.6m;
Arafura Resources Limited will receive a grant worth around $29.9m;
Australian Vanadium Limited will receive a grant worth $49m;
Alpha HPA Limited will receive a grant worth $45m;
Australian Genomic Cancer Medicine Centre will receive a grant worth over $61.2m;
Turbine Sunshine Coast will receive a grant worth over $33.4m;
Fortescue Future Industries will receive a grant worth over $44.9m;
Masdar Tribe Australia will receive a grant worth $48.2m.