ANNOUNCEMENT 13 Mar 2020

The Australian government provided AUD 69.5 million for the creation of the Future Energy Exports Cooperative Research Center and the Transformations in Mining Economies Cooperative Research Center.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Minister for Industry, Science and Technology of Australia. Karen Andrews. Media Releases. "Investing in Australia's mining and energy future" of 13/03/2020. Available at: https://www.minister.industry.gov.au/ministers/karenandrews/media-releases/investing-australias-mining-and-energy-future

Australian Government. Department of Industry, Science, Energy and Resources. Funding and Incentives. Cooperative research centres (Retrieved on 18/03/2020). Available at: https://www.industry.gov.au/funding-and-incentives/cooperative-research-centres

Inception date: 13 Mar 2020 | Removal date: open ended

Export subsidy

On 13 March 2020, the Minister for Industry Science and technology of Australia provided AUD 40 million (circa USD 24.7 million) for the establishment of the Future Energy Exports Cooperative Research Center (FEnEx CRC).

With regard to the new research institution, the Minister said “[t]he FEnEx CRC will further strengthen our export industry by developing technologies to improve the efficiency of existing LNG processes and the development of new exports like hydrogen"

In addition to the resources provided by the government, the FEnEx CRC has also generated AUD 122 million (USD 75.2 million) cash and in-kind contributions from researches and the industry.

 
The Cooperative Research Centers Program
Amongst the funding and incentives programs of the Department of Industry, Science, Energy and Technology of Australia, the Cooperative Research Centers (CRC) Program offers both short-term and medium to long-term funding for industry-led research in the form of financial grants. The main objective of this scheme is to increase the competitiveness of Australian companies.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 13 Mar 2020 | Removal date: open ended

Financial grant

The Minister for Industry Science and technology of Australia provided AUD 29.5 million (circa USD 18.2 million) on 13 March 2020, for the establishment of the Transformations in Mining Economies Cooperative Research Center (TiME CRC).

The objective of this research institution is to help the mining industry identify new opportunities to diversify the economy in those regions highly dependent on concrete mining projects.

In addition to the resources provided by the government, the TiME CRC has also generated AUD 105 million (USD 64.7 million) cash and in-kind contributions from researches and the industry.

 
The Cooperative Research Centers Program
Amongst the funding and incentives programs of the Department of Industry, Science, Energy and Technology of Australia, the Cooperative Research Centers (CRC) Program offers both short-term and medium to long-term funding for industry-led research in the form of financial grants. The main objective of this scheme is to increase the competitiveness of Australian companies.
 
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