The Government of Australia has reportedly announced the availability of funding for recycling and clean energy projects as part of its AUD 1.3 billion MMI (Modern Manufacturing Initiative).
According to sources, the Recycling and Clean Energy National Manufacturing Priority road map, which was unveiled alongside the financing announcement, will be guiding the investment. The plan recognizes specific areas of opportunities for investment.
These areas comprise packaging and recyclable products, products made from recycled feedstock such as organic waste or plastic, microgrids, hydrogen technologies, specialized batteries, thermal energy, inverters, and low emissions steel and aluminum.
According to Sussan Ley, the Minister for Environment, at a time when the country is driving an unprecedented transformation of its recycling industries, the investment will encourage new technologies for recycling, recovering, and reprocessing materials such as problematic plastics and e-wastes into new products.
Ley also added that the country is taking steps for creating procurement markets for recycled goods, banning problem exports, and for the establishment of market-led product stewardship schemes. These steps make it clear that it is not good enough to just throw things away at the end of their life. These things can and are required to be made into new products, stated Ley.
As per reliable sources, the Modern Manufacturing Initiative forms the main part of the AUD 1.5 billion Modern Manufacturing Strategy, which is intended at investing money over a period of four years for helping Australian manufacturers.
The final one to be open for financing, recycling and clean energy is the one of the six major areas under the initiative. The other five areas comprise medical products, space, food and beverage, resources technology and critical minerals processing, and defense.
As highlighted by Angus Taylor, the Minister for Energy and Emissions Reduction, Australia is a trusted provider of manufactured products, energy, and commodities across the Indo-Pacific. Taylor also added that by getting the technologies of the future right, the country will be in a position to support the efforts of its customer countries to decarbonize while expanding their economies.