The Tasmanian Government has announced that clean energy company PolarBlue is preparing to establish an advanced manufacturing hub at Bell Bay, with the project expected to create 150 jobs and attract $1.5 billion in capital investment during its first three years.
The announcement follows three years of engagement between PolarBlue and Tasmania, according to the Tasmanian Government. The proposed hub would manufacture zero-emission energy infrastructure using Australian technology.
Tasmanian Minister for Business, Industry and Resources Felix Ellis said the project would support investment and employment in the state.
“PolarBlue’s vision to deliver globally significant outcomes using Australian technology is welcome in Tasmania,” Ellis said.
“The significant private capital commitment will be a boon for the entire State, driving investment over three years while they build the hub.”
The government said the first phase of the project is expected to support 150 long-term jobs and contribute to the Northern Tasmanian economy.
Ellis said the project aligned with the government’s plans to attract investment and support business growth in Tasmania.
“Tasmania is open for business, and we welcome PolarBlue’s commitment,” he said.
PolarBlue founder Grant Reynolds said the company had sought a fair process from the Tasmanian Government rather than financial support.
“We never asked Tasmania for a cent, only a fair process, and we got one,” Reynolds said.
“Bell Bay is where we start advanced manufacturing at scale.”
Reynolds said PolarBlue would seek to demonstrate the project’s potential through its operations.
“We are not asking anyone to take that on faith – we are asking them to come and watch,” he said.
