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$23.7 million for carbon capture and storage

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$23.7 million for carbon capture and storage

12 August 2016 Today I am pleased to announce grants of $23.7 million to seven applicants under the Carbon Capture and Storage Research Development and Demonstration Fund (CCS RD&D Fund).

The CCS RD&D Fund provides funding for carbon capture and storage (CCS) projects with a particular focus on transport and storage. It supports the Australian Government’s commitment to reduce the technical and commercial barriers to the deployment of large-scale CCS projects.

These projects will also encourage industry investment in further deployment of CCS technologies.

Both Australian and international energy forecasts show that fossil fuels will have a significant share of the energy mix over the next few decades.

The seven projects selected include both industry and research institution-led projects. These will further add to Australia’s knowledge and successful implementation of large scale CCS projects in Australia.

The grants range in size from $693,450 to nearly $9 million and had to be matched at least dollar-for-dollar by grant recipients. As a result, we have leveraged more than $33 million in industry contributions.

I expect CCS will make an important contribution to the Government’s emission reduction goals.

A full list of CCS RD&D Fund recipients and project descriptions is attached.

Media contact: Senator Canavan's Office 02 6277 7180

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