The ACT Government has announced that New Frontier Technologies and RenewMap will share more than $1 million as the first recipients of the Territory’s Energy Innovation Fund.
Australian Capital Territory Minister for Water, Energy and Emissions Reduction, Shane Rattenbury, said that the ACT Government is supporting innovative projects that will help achieve the Territory’s goal of net zero emissions by 2045.
“These two projects that have received a grant under the Energy Innovation Fund will support the Australian Capital Territory on our energy transition journey, as well as invest in local jobs and expertise,” Minister Rattenbury said.
“The $17 million total funding pool will be allocated over a five-year period and there are three grant streams available under the fund. These are the Technology Demonstration Grant, the Policy Challenge Grant, and the Innovation Ecosystem Grant.
“The projects funded today include a grant for New Frontier Technologies for a project to develop an innovative storage solution for hydrogen.
“Funding will also be provided to RenewMap to support further development of their web-mapping platform, better connecting projects across the Australian and New Zealand energy landscape.”
New Frontier Technologies will receive $750,143 under the Technology Demonstration Grant and RenewMap will receive $300,000 under the Innovation Ecosystem Grant.
“The $17 million in funding has been contributed by industry commitments from the ACT Government’s Renewables Reverse Auctions – a nation-leading initiative that not only maintains the ACT’s 100 per cent renewable electricity supply, but also provides investment in our local clean energy economy.
“The Australian Capital Territory has a world-renowned renewable energy sector and for more than a decade has been a leader in transitioning to 100 per cent renewable electricity. These recipients showcase the continued innovation taking place right here in the nation’s capital.
“Congratulations to today’s recipients. I look forward to seeing these projects come to fruition and contribute to our shared goal of addressing the climate crisis and transitioning to a net zero emissions energy future,” Mr Rattenbury said.
New Frontier Technologies Director and CEO, Paul Compston, said, “We are delighted that the support from the ACT Government’s Energy Innovation Fund program will enable New Frontier Technologies to demonstrate Australian Capital Territory-developed capability for innovative design and automated manufacturing of high-value carbon composite structures.
“We will develop lightweight, type V (liner-less) all-composite pressure vessels that will increase capacity for hydrogen storage and form a critical part of the infrastructure required to achieve local net-zero targets. This innovative pressure vessel design and scalable manufacturing approach will be the first-of-its-kind, making it highly marketable to the national and international hydrogen economy.”
RenewMap Co-Founder and Director, Alex Thompson, said, “RenewMap currently provides stakeholders in the energy industry with highly accessible, accurate and near real-time information on large-scale energy projects across Australia and New Zealand. Our aim for RenewMap is to create an up-to-date, national view of the energy landscape and contribute to a faster and more efficient renewable energy transition.
“The Energy Innovation Fund will accelerate the growth of our business and enable us to create new jobs in the ACT’s thriving renewable energy sector. The funded project will build on the success of RenewMap to date, empowering industry stakeholders with new analytical tools and valuable insights into the future pipeline of energy projects.”
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