Australia’s place as a world leader in mining and energy resources is set to be boosted thanks to a Coalition Government commitment to fund industry-led research.
The Government will provide $40 million for the establishment of the Future Energy Exports (FEnEx) Cooperative Research Centre (CRC) and $29.5 million for the CRC for Transformations in Mining Economies (CRC TiME).
Minister for Industry, Science and Technology Karen Andrews said the FEnEx CRC would help Australia maintain its position as a leading global energy exporter.
“The world’s demand for energy is insatiable and Australia is already dominant, with current energy exports worth nearly $90 billion,” Minister Andrews said.
The FEnEx CRC will develop technologies to improve the efficiency of existing LNG processes and the development of new exports like hydrogen, tapping into international interest in lowering the cost of energy production, while at the same time reducing the carbon footprint of the LNG industry.
Minister for Resources, Northern Australia and Water Keith Pitt said the resources and energy sector is “building new infrastructure across regional Australia and developing highly skilled and highly committed local workforces.”
“This new CRC will provide the tools for towns and regions to navigate opportunities to create new jobs and development that keep communities strong,” he said.
The FEnEx CRC has generated a further $122 million in cash and in-kind contributions from industry and researchers.
The CRC TiME has generated a further $105 million in cash and in-kind contributions from industry and researchers.
Since 2013, the Government has committed $1.1 billion to support the establishment of 30 CRCs, with industry and research partners contributing $3.4 billion in cash and in-kind contributions.
The CRC Program provides competitive and merit-based grant funding to support industry-led collaborative research partnerships. The grant is complemented by cash and in-kind support from industry and research partners.
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