Tasmania’s Blue Economy Cooperative Research Centre (CRC) is expected to unlock more than $258 million in private investment from around the world and create hundreds of local jobs, following new funding from the Federal and State Governments.

The CRC recently received $70 million from the Federal Government and $2 million from the Tasmania State Government to helpestablish Tasmania as a global leader in renewable energy and marine engineering.

The funding will establish a new national CRC headquarters in Launceston, and is expected to generate significant benefits through the expansion of the renewable energy sectors, development of innovative intellectual property and the launch of new ventures.

It will deliver innovations in marine renewable energy, offshore engineering and, through the development of offshore solutions, underpin the sustainable growth and expansion of Tasmania’s aquaculture industry.

While Tasmania is already on track to be 100 per cent self-sufficient in renewable energy by 2022, the CRC will deliver an Offshore Renewable Energy Systems Program focused on continuing Tasmania’s leadership in the production of low cost, reliable and clean energy through offshore wind, wave and tidal energy solutions.

The Hodgman Liberal Government has been working with key stakeholders and the Morrison Government for nearly two years to secure this investment for Tasmania. While the CRC will be headquartered in Launceston, it will deliver millions into the Tasmanian economy and generate jobs across the state.

Tasmanian participants in Blue Economy Cooperative Research Centre include:

  • UTAS
  • Gisbons Ltd (Skretting Australia)
  • Pitt & Sherry
  • State government
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