Finance

Applications are open for grants of up to $750,000 (USD 479,000) under a new Victorian government program that aims to support Victorian manufacturers to be part of the growing renewable energy supply chain and boost the production of renewable energy products and components.

The Australian government has doubled the amount of federal financing available for critical minerals projects to $4 billion (USD 2.56 billion) as it looks to shore up supply chains with the United States, deliver on emissions reduction targets, and build clean energy industries.

Solar glass manufacturer ClearVue Technologies is poised to accelerate its global expansion plans and further the commercialisation of its technology after locking in a $30 million (USD 19 million) funding facility with Australian fund manager Alpha Investment Partners.

Government agency Export Finance Australia will provide $220 million (USD 140 million) to help finance Liontown’s Kathleen Valley Lithium project after involvement from Australia’s richest person, mining magnate Gina Rinehart, caused its giant Albemarle deal to collapse.

Australia’s power market is experiencing the most pricing fluctuations of anywhere in the world, according to research from Rystad Energy. This volatility is a result of unplanned coal plant outages, natural disasters impacting transmission lines, and high solar penetration pushing down midday prices.

Leaders from Australian hydrogen startup Hysata are joining Prime Minister Anthony Albanese on his four-day visit to the US to meet President Joe Biden. Hysata is commercialising a hydrogen electrolysis breakthrough that claims to improve efficiency by 20%.

Meanwhile, the automaker’s energy storage unit boosted revenues by 40%, according to its Q3 earnings report.

An Australian software startup that aims to make it easier for energy providers and solar installers to assess the feasibility of commercial-scale renewable energy projects will now pursue global expansion plans after completing a seed funding round.

If demand picks up again toward the end of the year due to the current price situation, the downward trend for PV module prices could be stopped, according to pvXchange’s Martin Schachinger.

The US Department of Energy has allocated USD 7 billion ($11 billion) for seven Regional Clean Hydrogen Hubs (H2Hubs) to deploy commercial-scale clean hydrogen, while the Mission Possible Partnership, RMI, Systemiq, Power2X, and industry leaders have set up the Transatlantic Clean Hydrogen Trade Coalition (H2TC) to ship US clean hydrogen to Europe by 2026.