Corrosion Instruments (CI) – a cathode protection, monitoring and measurement equipment manufacturer based in the NT – has been awarded the first co-investment grant in the state under the Northern Territory Advanced Manufacturing Ecosystem Fund (AMEF).
The advanced manufacturer’s equipment measures and monitors the performance of the cathodic protection system which protects critical assets such as gas and water pipelines, wharves, storage tanks and tunnels. They currently have products deployed across several critical assets around Australia.
CI will receive $110,000 in co-investment from the Advanced Manufacturing Growth Centre (AMGC) managed fund, which will be matched by CI and its partners dollar-for-dollar for a total commitment of $220,000.
The co-investment will assist CI in establishing a local testing, prototyping, and small-batch manufacturing facility to support the local manufacture and commercialisation of its next-generation products.
The facility, to be based in Palmerston, will be the only one of its type in the NT and establish a capability that would have otherwise been outsourced interstate.
“Co-investment in Corrosion Instruments allows us to commit to developing a new, Territory-based capability and the skilled jobs that support it,” Corrosion Instrument’s managing director Sam Pattemore said.
“The ability to prototype, test and manufacture locally will allow us to expedite commercialisation of future projects, before moving to full-scale production and later export. This will grow opportunities for Corrosion Instruments and the Territory.”
CI currently has a team of three and will double its team as a result of the project, creating additional highly skilled local jobs for engineers, technicians and production staff.
As a result of the investment, the company forecasts local manufacture of 2,000 units per annum, generating additional revenues of up to $4 million over the first five years of the program.
CI expects to be able to grow its local customer base, while expanding its reach into international export markets, with a focus on gas and water security projects.
The NT government announced the five-year $8.75 million partnership with AMGC in 2021 to administer the AMEF.
AMEF will provide grants to industry-led advanced manufacturing projects located in the NT across the priority sectors where those projects:
- commercialise new products and processes, including transitioning a new product or process from pilot/prototype stage to full commercial operations; and/or
- support early-stage small scale and pilot research projects in advanced manufacturing.
“Since the foundation of the partnership between AMGC and the Territory government last year, we have already seen an uplift in engagement from local industry with a 500 per cent increase in network membership and a growing pipeline of potential projects,” AMGC NT director Charmaine Barrett said.
“Following intensive industry engagement over the past six months, AMGC knows there is significant potential in the NT to develop new, highly-skilled and resilient jobs by leveraging the region’s vast natural resources, research talent, and manufacturing base to grow the Territories impact both locally and abroad.”
Every project funded under the AMEF requires at least two collaborators – those being a business, manufacturer, supplier, or researcher – with at least one of the entities being NT-based.
The AMEF’s intentions are to increase the capability and competitiveness of NT manufacturers through the implementation of new technologies, to increase productivity and create jobs.
“Advanced manufacturing will be a major jobs driver of the future, and this new partnership will provide local manufacturers with the ability to turn their dreams into realities,” NT minister for Advanced Manufacturing, Nicole Manison said.
“Corrosion Instruments will play a major role in our natural resource sectors, as well as our future water projects.”