The government has announced additional funding to the research and development of new energy infrastructure, making it more cost-effective for Australian households and industries to use low-carbon energy fuels.
The Future Fuels Cooperative Research Centre (CRC) will undertake research and development to provide more options to Australian consumers for low-carbon energy at competitive prices. The CRC will receive $26.25 million in government funding, and is set to leverage a further $64.6 million of cash and in-kind funding from CRC participants.
According to minister for jobs and innovation, Michaelia Cash, “The research will look at opportunities to adapt existing infrastructure for the production, transport and storage of sustainable future fuels such as hydrogen and biogas.”
“The Future Fuels CRC brings together industry, universities and regulators to ensure that Australian businesses and industry will be best placed to harness the benefits of the fuels of the future,” Minister Cash said in a press release on Friday.
Assistant minister for science, jobs and innovation, Zed Seselja said the new CRC would be well positioned to succeed.
“Since the CRC Program’s inception, the Australian government has invested more than $4.4 billion in collaborative research to find practical solutions for Australian industries.”
“The CRC Program continues to be central to the coalition government’s commitment to improving the competitiveness, productivity and sustainability of Australian industries, delivering significant economic and social benefits to Australians, and securing jobs for the future,” Seselja said.
Applications for the 20th CRC selection round are expected to open in May 2018.