Australian carbon fibre composite technology company, Omni Tanker, is set to scale up its business to meet international demand, drawing on a $4 million equity investment from the Clean Energy Innovation Fund (CEFC).
This latest Innovation Fund investment is part of a broader $7.9 million capital raising by Omni Tanker to help it scale up its manufacturing operations to supply ISO tanks internationally.
The CEFC investment will allow Omni to contribute to lower emissions in the transport sector.
Clean Energy Innovation fund executive director Ben Gust said, “this is an exceptional Australian technology, being manufactured in Australia and exported globally. We are very excited to be working alongside Omni Tanker as it scales up to revolutionise the transportation of corrosive and hazardous goods worldwide.”
Omni Tanker is commercialising its technology in the bulk and liquid transport equipment market, with the Omni road tanker and then Omni Tainer, a portable tank container (ISO tank) designed for intermodal applications.
The ISO tank container market, which already has a global fleet of more than 550,000 tank containers, is growing by more than eight per cent a year. Most tank containers are either stainless steel or carbon steel.
Omni Tanker’s CEO Daniel Rodgers said, “globally we are seeing significant growth in the tank container market, and transporters and operators are all seeking new ways to improve safety and drive profitability. Our proven technology is compelling for users of transport tanks and we are scaling our production capability to meet the global demand.”
The CEFC has invested more than $64 million across ten transactions. The innovation fund is draws on more than $200 million in CEFC finance and operates with the assistance of Australian Renewable Energy Agency (ARENA).
Gust said the investment is about supporting leading-edge innovation to tackle transport- related carbon emissions, which are a significant part of the greenhouse gas emissions challenge.
“It continues the strong focus of the Innovation Fund in supporting a diverse range of cleantech companies which are capitalising on new business opportunities emerging from our clean energy transition. Companies such as Omni Tanker demonstrate the exciting potential of Australian innovators to lead the transition to a low carbon economy. We are pleased to be able to support Omni Tanker in this next important phase of its growth,” said Gust.