Transcript Green Car Innovation Fund

Australia’s Green Car Innovation Fund
– An Investment Opportunity
Leigh Wilmott
Senior Business Development Manager
ASEAN Automotive
GREEN CAR INNOVATION FUND
Part of the Australian Government's ‘A New Car Plan for a
Greener Future’.
The AUD$1.3 billion fund over ten years.
Supports Australian companies for projects that enhance the
research and development and commercialisation of
Australian technologies that significantly reduce fuel
consumption and/or greenhouse gas emissions of
passenger motor vehicles.
Grants are provided at a ratio of $1 of government funding for
every $3, (25%), of eligible expenditure, contributed by the
grantee.
Program essentials
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Competitive merit-based grants program
$1.3 billion over ten years from 2009
Companies, individuals and other entities can apply
Applications from consortia are encouraged
Funding ratio of 1:3 (25% grants
3 year projects (with extensions to 4 years)
Funding available under Stream A and Stream B
Minimum grants available
– Stream A $5 million (Australian registered MVP)
– Stream B $100,000 (Automotive parts companies)
Cumulative total of grants must not exceed $100 million
Eligible activities
The program will support:
– research and development (R&D)
– proof-of-concept
– early-stage commercialisation
– pre-production development
Activities must be undertaken in Australia and directly relate to the creation,
acquisition, application or commercialisation of knowledge, technology,
processes, materials or products which:
– are new or additional to the grantee, and
– significantly reduce fuel consumption and/or greenhouse gas emissions
of passenger motor vehicles
Eligible expenditure
• Labour (including salaries, overheads and employing recent
graduates)
• Contractors
• Plant and equipment (50% cap)
• Acquisition and adaptation of new leading-edge technologies (10%
cap)
• Prototype
• IP protection (10% cap)
• Collaborative costs
• Other
Merit criteria
• Extent of reduction in fuel consumption and/or greenhouse gas
emissions
• Technical merit, extent and calibre of innovation
• Capacity and capability of applicant to undertake the project
(including management capability and need for funding)
• Commercial potential
• Contribution to a competitive Australian automotive industry, and
benefits to the Australian economy
Foreign investors?
For foreign companies this provides opportunities to:
– establish an Australian presence
– partner with Australian entities, or
– further develop existing Australian operations/subsidiaries.
CASE EXAMPLE
A collaborative project / joint venture with an Australian partner where
there is technology exchange.
Conditions:
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where overseas collaborators are involved the lead applicant must be an
Australian entity
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funding contributions from collaborative partners must be made available to
the applicant to demonstrate capacity to fund share of costs
Case Study: Orbital apply FlexDI technology to Chinese
cars from Changan
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Orbital announced a $2.4 million 18-month
proof-of-concept development contract last
May to fit its Australian designed air-assisted
direct-injection system to Changan’s current
petrol engine family at its Perth engineering
centre.
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The Green Car Innovation Fund grant of
$440,413 will help Orbital to develop its FlexDI
engine management and combustion system
to be tested on engines and in vehicles for
Changan Automobile, China’s fourth largest
automaker with sales of 1,869,800 last year.
“What this grant shows is the power of
partnerships between the Australian
Government, industry and international
investors,” Senator Carr, Australian
Industry Minister.
Further Information
Website:
• www.ausindustry.gov.au/Manufacturing/GreenCarInnovationFund/Pa
ges/GreenCarInnovationFund(GCIF).aspx
CONTACT INFORMATION
Leigh Wilmott
Senior Business Development Manager
ASEAN Automotive
Australian Trade Commission (Austrade)
Australian Embassy, Bangkok
Tel: +66 2 69 64821 Mobile: +66 81 909 8776
Email: [email protected]
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