The Albanese government has tipped another $500 million into the Clean Energy Finance Corporation to establish a new sub-fund to commercialise and scale up technologies designed to cut emissions.
Federal energy minister Chris Bowen says the Powering Australia Technology Fund will be be added to the CEFC Special Account and included in the CEFC’s investment mandate.
Bowen says the new investment will be used to drive commercialisation of a range of innovations around energy efficiency and smart solar and battery technologies – helping to bridge the so-called ‘valley of death’ between R&D and development.
“While we excel in research, Australia has been losing out for too long when it comes to commercialisation,” Bowen said on Wednesday.
“We need to continue developing innovative technologies that will help power Australia, and realising more of their economic benefits…
Labor tips another $500m into CEFC to help bridge clean energy’s “valley of death”
