NSW Government invests $275 million in Net Zero Manufacturing Grants
The new funding initiative is specifically tailored to propel lab-proven technologies into market-ready products that are primed for scaling up and dissemination across NSW.
The NSW Government has announced that $275 million in grants will be available to bolster net zero manufacturing and job creation within the state. The Net Zero Manufacturing Initiative aims to position NSW as a leading hub for the development and production of clean technology while concurrently generating employment opportunities.
Under the initiative, a range of grants will be provided to support workers, small businesses, manufacturers, and innovators in leveraging clean technology and renewable energy solutions. The Net Zero Manufacturing Initiative is a response to the findings of the NSW Decarbonisation Innovation 2023 Study, which identified key opportunity areas such as future energy systems, transportation, built environment, biomanufacturing, power fuels (including hydrogen), and agricultural technologies.
The grants will be allocated across three main categories:
- Renewable manufacturing: Supporting the local production of components for renewable energy projects, thereby enhancing local content capability and alleviating supply chain constraints.
- Clean technology innovation: Assisting businesses in scaling up low-emission technologies to make them market-ready.
- Low-carbon product manufacturing: Establishing industrial facilities for emerging low-carbon industries, fostering investment in areas such as low-carbon laminate timber and bio-diesel production.
These grants aim to facilitate the transition towards a net zero economy by supporting already lab-proven technologies and the manufacturing of market-ready products that are prepared to be scaled-up and rolled out across NSW. The initiative is anticipated to create more local, secure jobs across the state and contribute to the diversification of regional economies.
Premier Chris Minns expressed the importance of these grants in supporting small and medium businesses in piloting new technologies, bolstering local manufacturing in renewables and clean technology.
"These grants are all about ensuring NSW manufacturing is part of this revolution," Minister for Climate Change and Energy Penny Sharpe said of the initiative.
"They will lead to new secure, long-term jobs that are good for the planet but also build wealth in local communities and give New South Wales security and sovereignty of the renewable energy supply chain."
The grants were opened to submissions yesterday, Monday 26 February 2024.
Q&A webinars will take place on March 19 and 21, find more information and register here and here.
