06 September 2018

$2.35m awarded to local advanced manufacturers

JOINT statement with The Hon Karen Andrews MP, Minister for Industry, Science and Technology

Innovative companies in Corangamite will benefit from an Australian Government grant designed to boost advanced manufacturing in Victoria.

BNNT Technology Limited from Waurn Ponds has been offered a $1,400,000 Advanced Manufacturing Growth Fund grant to undertake its project to build the world’s first commercial scale Boron Nitride Nanotube plant.

Carbon Revolution Operations Pty Ltd has been offered a $946,200 Advanced Manufacturing Growth Fund grant to undertake its Automated Rim Layup Project.

The Minister for Industry, Science and Technology Karen Andrews congratulated these companies, two of 15 successful grant applicants in the final round of funding.

“The grants are designed to transition industry from heavy processes to advanced manufacturing of higher value products,” Minister Andrews said,

“Nearly $19 million will be distributed in the second round to support capital projects by small and medium sized enterprises in Victoria and South Australia.

“This is expected to provide high-skill employment opportunities in the two states most affected by the closure of the local vehicle industry.”

“These businesses show the potential of Australian manufacturing: our firms and our workers can make high-tech, high-value products that can compete in a global market.”

Ms Henderson congratulated BNNT Technology and Carbon Revolution and said their success would help inspire other businesses in Corangamite.

“Our local manufacturers have the skills and knowhow to compete with the best in the world.

“These grants will help BNNT Technology Limited and Carbon Revolution Operations Pty Ltd, it will help their workers and it will help create more opportunities.”

“Carbon Revolution is becoming an advanced manufacturing powerhouse and is well on its way to becoming one of the nation’s most successful advanced manufacturers,” Ms Henderson said

The Australian Government’s $47.5 million Advanced Manufacturing Growth Fund was established in the 2017-18 Budget as part of a $100 million package to support advanced manufacturing.

The full list of successful grant recipients can be viewed on the business.gov.au website.

September 6 2018