The New South Wales Government is set to invest $26.2 million to advance emissions reduction technologies from the research stage to the commercial stage.
Funding for 13 projects will be distributed from the $275 million Net-Zero Manufacturing Initiative, which supports NSW’s businesses and sectors in leading the global energy transition by increasing competitiveness, attracting investment and opening new growth opportunities.
The grants will focus on developing and implementing technologies that don’t exist in the marketplace but can reduce emissions and assist with NSW’s goal of reaching net-zero emissions by 2050.
An example is Novalith Technologies, which are looking to scale its novel lithium extraction process to a commercial level. The technology is designed to sustainably produce low-cost and low-impact lithium carbonate directly from spodumene concentrate for batteries. The project will receive a $1.5 million grant.
“Australia has a once-in-a-generation opportunity to lead the global energy transition, not just by exporting minerals, but by exporting the technology that makes them cleaner, cheaper, and more sustainable to produce,” Novalith founder and chief executive officer Steven Vassiloudis said.
“This support from the NSW Government recognises the vital role homegrown solutions like Novalith’s can play in building resilient supply chains and accelerating the world’s shift to a low-carbon future.”
All 13 projects, including Novalith’s, will go through all key stages, including design, prototyping, construction, testing and real-world scenarios to ensure commercial viability. Each project is expected to be completed by 2028.
“The (NSW) Government is investing in the new technologies, jobs and industries that will drive our state’s transition to a low-carbon economy, create new jobs as we address the critical challenges climate change presents,” NSW Climate Change and Energy Minister Penny Sharpe said.
“This investment will see these projects transition into practical, real-world solutions for emissions reduction that also boost innovators, investment and new jobs.”