NSW allocates $275 million for net zero manufacturing grants

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Image credit: Jeson/stock.adobe.com

The NSW Government is today unveiling a substantial $275 million allocation in grants as part of the Net Zero Manufacturing Initiative, aimed at cementing NSW as the premier destination for the development and production of clean technology. 

The initiative is poised to not only reshape the state’s economy but also ensure that NSW manufacturing plays a pivotal role in this transformative journey, the government said in a media release.

The project is slated to yield local and stable employment opportunities throughout the state, fostering the diversification of regional economies and bolstering resilience in the face of evolving market dynamics.

The allocation of funds will be guided by the strategic insights outlined in the NSW Decarbonisation Innovation 2023 Study, a blueprint meticulously crafted by the Office of Chief Scientist and Engineer to identify key opportunity areas.

These encompass future energy systems and storage, transportation, the built environment, biomanufacturing, power fuels including hydrogen, and agricultural technologies.

Premier Chris Minns conveyed that the Net Zero Manufacturing Initiative aims to strengthen local manufacturing in the renewables and clean-technology sectors, ultimately leading to the creation of more local and secure jobs.

“This is all about supporting and backing NSW businesses, manufacturers and innovators to develop homegrown technology and products right here in the state, and securing the jobs and skills we need for a renewable energy future,” he remarked.

Minister for Climate Change and Energy Penny Sharpe stated that NSW is currently undergoing a transformation of its energy grid, which will consequently reshape the economy.

She noted, “There are incredible opportunities for small, medium and large businesses to be a part of this.”

Meanwhile, Minister for Domestic Manufacturing and Government Procurement Courtney Houssos expressed the NSW Government’s commitment to rebuilding the domestic manufacturing industry.

“For every one job in manufacturing, three-and-a-half other jobs are sustained in the supply chain. We want those secure, well-paid manufacturing jobs to be in NSW,” Minister Courtney remarked.

Under the umbrella of the Net Zero Manufacturing Initiative, a spectrum of grants will be made available to eligible entities.

Renewable Manufacturing initiatives will focus on expanding capacity for the production of components vital to renewable energy projects, thereby mitigating supply chain bottlenecks and enhancing local content capabilities.

This could entail the establishment of state-of-the-art facilities dedicated to the manufacturing of solar cells or the fabrication of supply chain components for renewable energy transmission.

Clean Technology Innovation grants will facilitate the transition of businesses towards scalable, low-emission technologies primed for market adoption.

Examples include the development of prototypes for next-generation residential batteries or the acquisition of cutting-edge laboratory equipment designed to assess a material’s efficacy in hydrogen atom storage.

Low Carbon Product Manufacturing initiatives will underwrite the establishment of industrial facilities and manufacturing capabilities tailored to capitalise on burgeoning investments in emerging low-carbon industries.

This might involve the construction of facilities for the production of low-carbon laminate timber or the integration of new production lines within existing biomass facilities for the manufacture of biodiesel.

Crucially, the initiative will prioritise technologies with proven efficacy in laboratory settings and the production of market-ready products poised for scalability and widespread adoption across NSW.

This strategic focus aims to bolster NSW’s five Renewable Energy Zones and hydrogen hubs by ensuring access to locally sourced materials.

Interested parties can avail themselves of these grants beginning Monday, February 26, 2024.

To determine eligibility and commence the application process, individuals and entities are encouraged to visit the NSW Climate and Energy Action website.