The IGP supports innovative small and medium enterprises (SMEs) through advice and the opportunity for matched grant funding for projects to help them commercialise and grow.
Projects must align with Australian Government priority areas for the National Reconstruction Fund and help build Australian manufacturing capability for the future.
Some of the 5 companies awarded funding include:
- Allegro Energy: $1.85 million to mass manufacture their redox flow battery energy storage systems, which are highly compatible with long-duration energy storage.
- CoilRig: $250,000 to complete testing of their affordable and environmentally friendly Coiled Tube drilling system.
- Azaneo: $250,000 to build a pilot unit to validate their Pulsed Electric Field weed control technology.
- Magic Valley: $100,000 to transition from research to commercial production of cultivated meat.
Grant opportunities are open to businesses that have received an Industry Growth Program Advisory Service. Applications to the Industry Growth Program Advisory Service are open to eligible businesses on an ongoing basis.