$321 million investment in Australia’s heavy industry future

The Albanese Government is building a Future Made in Australia, helping heavy industry lower energy bills and take advantage of emerging technology with up to $321 million in funding now available through the second round of the Powering the Regions Fund.

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The Government will offer competitive grants to help industrial sites covered by the Safeguard Mechanism remain competitive internationally and keep skilled jobs in Australia as demand for low emissions products grows around the world.

The Government’s Powering the Regions Fund is ensuring that our transition to net zero drives growth across our regions that have traditionally powered Australia.

Round 1 of the Fund has seen over a dozen projects funded to cut more than 1 million tonnes of climate pollution each year, the equivalent to taking over 240,000 cars off our roads.

Applications for round 2 are open. More information is available here.

Quotes attributable to Minister for Climate Change and Energy, Chris Bowen:

“We’re backing Australian industry to remain globally competitive as the world undergoes the biggest economic change since the Industrial Revolution, presenting Australia with an enormous economic and jobs opportunity.

“Our sensible, practical approach to action on climate means our industries will be able to compete and succeed in the world, while transitioning to a lower emissions future.

“While the Liberals and Nationals continue to tear each other apart, we’re continuing to build a cleaner and cheaper future for Aussie industry.”

Quotes attributable to Minister for Industry and Innovation and Minister for Science, Tim Ayres:

“As Australia reduces its carbon emissions, we’re backing Australia’s industries and the regions that have long powered our economy.

“Supporting industry to electrify, use energy more efficiently and adopt low emissions technologies is critical to a resilient domestic manufacturing and industrial sector.”