86 manufacturing businesses have been awarded $55 million in grants under round two of the Government’s Manufacturing Modernisation Fund (MMF).
Minister for Industry, Science and Technology Christian Porter said MMF funding will help business modernise their manufacturing processes.
Modernising their manufacturing processes will improve productivity, reduce costs, enable new export opportunities and create highly skilled manufacturing jobs.
“Australia’s manufacturing sector is vitally important to our economy, directly employing more than 900,000 Australian workers and contributing almost $120 billion to our export earnings last year,” Minister Porter said.
“That’s why the Morrison Government is backing manufacturing businesses like Bonissimo in WA and 85 others right across the country with significant financial support to help them to modernise, innovate and grow.”
The Government’s investment in helping businesses receive the latest manufacturing technology and equipment will keep the country internationally competitive by increasing the capacity to target new export markets.
Modernising the manufacturing sector will also help grow well-paid and highly skilled jobs for Australians.
Western Australia’s Bonissimo Coffee Roasters will use its grant to help reduce the number of wasted plastic-lined coffee cups and coffee pods by installing new equipment to manufacture cups and pods made from biopolymers that are 100 per cent organic and fully compostable.
The grant will also allow the company to increase its coffee pod production six-fold, allowing it to hire more staff and pursue new export opportunities for its premium coffee products.
Examples of projects funded under round two of the MMF include:
The second round of the MMF builds upon the success of the first round. The MMF is a competitive merit-based grants program where applications are assessed by a committee of independent industry experts.
Businesses are required to match government funding on a three-to-one basis, with government grants covering up to 25 per cent of eligible project expenditure.
The minimum grant amount is $100,000 and the maximum grant amount is $1,000,000. Projects must be completed within two years.
Successful projects under the MMF include a lightweight digital health sensor that sticks to the skin and can provide early warning of cardiac issues, new generation high-output solar panels and a brewery expansion that will use world-leading thermal energy storage to reduce power consumption and chemical use.
The MMF’s grants are part of the $1.5 billion Modern Manufacturing Strategy. Under the Strategy, companies need to demonstrate that their products align with one of the Government’s six National Manufacturing Priorities (NMPs).
Those priorities are Resources Technology and Critical Minerals Processing, Food and Beverage, Medical Products, Recycling and Clean Energy, Defence and Space.
Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.