Government funds Aussie innovation

A software solution for soil testing and a remote bulk storage beverage dispensing system are among the innovative new products developed by the latest Commercialising Emerging Technologies (COMET) recipients.

A software solution for soil testing and a remote bulk storage beverage dispensing system are among the innovative new products developed by the latest Commercialising Emerging Technologies (COMET) recipients.

Senator Kim Carr, Minister for Innovation, Industry, Science and Research, has announced 11 COMET grants totalling $774,400 in national funding to help bring innovative Australian projects to market.

The companies and their projects, each receiving $70,400 in COMET funds, include Elemental Energy Technologies who has developed an underwater turbine for electricity generation from ocean currents, tides and flowing rivers.

Others companies who have received the grants are Ultramotive Technologies who has developed electric motor technology for motor vehicles that eliminates the need for gear boxes and transmissions, and Biofiba who has developed a biodegradable simulated timber product made of natural renewable resources as an alternative to export shipping pallets.

The COMET program is one of more than 30 business programs delivered by AusIndustry.

With Commercialisation Australia — the Rudd Government’s radical new $196 million support initiative for home-grown innovation — starting on 4 January this year, the COMET program is now closed to new applications.