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Government dangles $1bn carrot for industry to go green

31-08-2010
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Government dangles $1bn carrot for industry to go green

The Federal Government has launched a $1 billion funding program for manufacturers to improve energy efficiency and reduce pollution.

The Clean Technology Investment Programs will provide grants to help manufacturers buy new plant and equipment, which cuts their energy costs or reduces carbon pollution.
 
The Industry and Innovation Minister, Greg Combet, launched the $800 million Clean Technology Investment Program and the $200 million Clean Technology Food and Foundries Investment Program – part of the Government’s Clean Energy Future package.
 
They will support jobs and provide incentives for manufacturers to become more efficient, more competitive and more sustainable.
 
Eligible manufacturers can now apply for funding under the programs.
 
Also, the Government will change co-contribution requirements to make the grant programs more attractive for small and medium-sized firms.
 
Manufacturers with turnovers of less than $100 million requesting funding under $500,000 will now only have to match the government grants on a dollar-for-dollar basis.
 
For all other grants under $10 million, applicants will be required to contribute $2 for every $1 from the Government.
 
For grants of $10 million or more, applicants will be expected to make a co-contribution of at least $3 for each $1 of Government support.
 
Projects that can be supported include switching to less carbon intensive energy sources or installing new manufacturing equipment, processes and facilities to reduce energy consumption and carbon emissions.
 
Information sessions on the Clean Technology Programs will be held around Australia from March.
 
For more information visit: www.ausindustry.gov.au or call the AusIndustry Hotline on: 13 28 46.

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