none

GOVERNMENT INVESTS MILLIONS IN CARBON STORAGE TECHNOLOGY

06-02-2015
by 
in 

The federal government will inject $25 million into a major carbon capture and storage (CCS) research project based in Victoria.

Australian scientists, academics and industry professionals will collaborate to further improve CCS technology.

Minister for Industry and Science Ian Macfarlane said the funding was for the Cooperative Research Centre for Greenhouse Gas Technologies (CO2CRC), which was globally recognised for its work on CCS at its Otway geological storage test facility.

“The grant ensures that this critical research continues for five more years and we expect to see important technological improvements to CCS modelling, monitoring and verification as a result,” Mr Macfarlane said.

“The end goal is the wide scale deployment of an effective system for capturing carbon dioxide and storing it safely underground.”

Mr Macfarlane said funding the scientific research into CCS is a sensible investment in the nation’s future, given Australia’s reliance on coal-fired electricity and the abundance of fossil fuels.

“The Australian Government has a technology neutral approach to energy policy with a wide range of energy sources competing on a level playing field.

“This stance allows Australia to take advantage of new technologies that can contribute to the reliable, sustainable and affordable supply of energy.

“National energy policy should facilitate the market deployment of all possible options and a commercially viable CCS solution would help secure a prosperous future for Australia.

“Australia has world leading CCS projects underway as well as developing new processes for converting coal mine methane to energy. 

This funding for the CO2CRC Otway project underlines the Australian government’s support for CCS and low emissions technologies in Australia.”

Mr Macfarlane said the government’s 2015 Energy White Paper is now being finalised.

This would result in economy-wide reforms, he said.

“Encouraging innovation like this $25 million in new technology funding will not only help to cut emissions but also drive efficiencies and productivity which will help to put downward pressure on electricity prices.

“Australia has the potential to be an energy and resources superpower but it is important to assure investors that Australia is ‘open for business’ and to have clear and predictable policy settings.”

Related news & editorials

  1. 21.05.2018
    21.05.2018
    by      In
    Queensland engineering firm Fibercon is claiming a milestone in recycling, having reused more than 50 tonnes of plastic waste.
    The plastic has been used in the company’s Emesh product, which replaces steel mesh in reinforced concrete. The technology was codeveloped with researchers from Queensland’... Read More
  2. 18.05.2018
    18.05.2018
    by      In
    The latest edition of the Methods technology and solutions e-zine from Mouser Electronics focuses on digital twinning, the latest concept for design and maintenance in Industry 4.0.
    Starting with a forward from digital twinning expert Dr Michael Grieves, Executive Director of the US Center for... Read More
  3. 17.05.2018
    17.05.2018
    by      In
    The Federal Government has released an expanded overview of its 12-year national research infrastructure investment plan, marking the “next step of the innovation and science agenda”.
    The plan, prepared jointly by Education and Industry departments, will “provide Australian researchers with access... Read More
  4. 17.05.2018
    17.05.2018
    by      In
    Victoria’s Marand has grown its customer base, securing a partnership with Rolls-Royce for construction of the MT30 gas turbine for the SEA 5000 Future Frigate project.
    Under the agreement, Marand will work with Rolls-Royce on design development, manufacture and integration of the specialised... Read More