NERA – the Australian Government’s energy resources industry growth centre – has announced funding of $2.1 million for eight national projects, aimed at improving the global competitiveness of the sector, by addressing key industry issues relating to sustainability, efficiency and diversity.
The projects are expected to leverage an additional $2.4 million in industry funding, bringing the total value to more than $4.5 million.
The latest round of funding comes in addition to the broad range of projects already underway, which have been made possible through NERA’s collaborative commitments from the $15.6 million Project Fund.
NERA received over 80 applications from consortia, made up of industry, research and talent organisations, small businesses and entrepreneurs, in a competitive bid to share in the funding available.
The projects have been selected to deliver results on a national scale, have sector-wide impact, and are aligned with NERA’s Sector Growth Priorities, defined in the 10-year Sector Competitiveness Plan.
“NERA’s projects have been selected to deliver national impact, not just for one or two companies,” NERA chief executive Miranda Taylor said.
“This competitive matched funding program aims to invest in bold, innovative initiatives that will transform the energy resources sector to a digital, globally networked and low carbon-based economy. These collaborative projects aim to combine technology and new business models to drive efficiency, productivity, and co-create value and commercialisation opportunities.
“NERA global benchmarking has already revealed more than $10 billion in value which could be unlocked across the energy resources sector.
“Our latest round of projects will assist us to build on the advantages, capabilities, capacity and opportunities that we have right here in Australia and critically, will enable us to commercialise into global export markets.
“Australia is richly endowed with a wide range of natural resources that have and will continue to provide the vital energy and electricity required to support a modern, digital and connected economy. The energy resources sector will play a leading role in the energy transition, deliver the future prosperity of Australia and energy solutions to the world.”
The successful projects will receive co-funding from NERA’s $15.6 million Project Fund, upon the formalisation of contracts.
In conjunction with these recently-announced projects, funding has also been provided to the Transforming Australia Subsea Equipment Reliability (TASER) project. Led by Wood Group and in collaboration with Chevron, Shell and Woodside, TASER will create a ‘living laboratory’ to improve subsea equipment design and protect against marine growth on subsea equipment.
Project details will be available on the NERA website at www.nera.org.au.