How a hydrogen storage tech company in Port Stephens will benefit from the Regional Job Creation Fund
A new leader in hydrogen power technology will build a manufacturing facility in Tomago, creating up to 250 jobs in the region.
LAVO Hydrogen Storage Technology will receive a $5 million grant from the NSW Government’s $130 million Regional Job Creation Fund.
“This grant will enable LAVO to mass produce one of the world’s first solid state hydrogen energy storage devices to meet growing local and international demand and stimulate economic recovery in the region,” Mr Toole said.
Parliamentary Secretary for the Hunter Taylor Martin said the Coalition Government has an ambitious strategy to enable development of the hydrogen industry development, lay foundations and drive rapid scale in the hydrogen space.
“The grant to LAVO is an example of how we are supporting the Hunter position itself in the hydrogen industry, create jobs and ensure our future as a major energy exporter,” Mr Martin said.
Already operating in the region through Australian supply chain partners Ampcontrol, Varley, R&R Murphy and Evergen, LAVO will continue to work with the relevant stakeholders to ensure the continued investment brings value to the region through sustainable employment and skill development opportunities.
LAVO is working closely with Hunter Region-based Training Services NSW and Newcastle TAFE to ensure appropriate and tailored training is available for workers in the region. The University of New South Wales and the University of Newcastle are also exploring opportunities for accredited courses in hydrogen technology and renewable energy.
These investments will ensure workers in the Hunter Region are equipped with the necessary knowledge and skills for the jobs of the future.
The Regional Job Creation Fund’s focus is to co-fund projects creating at least five sustainable regional jobs. Applicants must provide a minimum 50% cash co-contribution to the project and the NSW Government contribution will be no more than $20,000 per new job created through the project.
Examples of eligible projects could include the:
- replacement, upgrade or adaptation of plant and equipment at an existing regional NSW business
- establishment of an additional production line for an existing regional NSW business
- onshoring of activity currently done overseas to a regional NSW location
- development of new regionally significant and/or iconic tourism experiences and visitor attractions creating new interstate or international demand in the region
- relocation of a business operation from out of state to regional NSW.
