Australian Carbon Capture Fund Closing Applications Soon

Australian Carbon Capture Fund Closes Applications Soon - Carbon Herald

The Australian government Carbon Capture Use and Storage Development Fund is open for four more days for applications. The fund supports all kinds of carbon capture pilot or pre-commercial projects aimed at reducing emissions. 

With this grant, the government aims to build the skills and capacity to curb GHGs from industrial processes and also to link with international projects. It strives to achieve less than $20 per ton of CO2 for its compression, transport and storage.

The funding available for the program is $50 million, with a minimum amount given of $500,000 and a maximum of $25 million. 

To be eligible, projects must fulfill a range of requirements. They must be located in Australia and completed by the 30th of June 2025. 

Income tax-exempt entities, individuals, partnerships, unincorporated associations and certain other organizations cannot obtain a grant.

Those, who have a right to apply for the funds are: 

  • an entity incorporated in Australia and a trading or financial corporation
  • a foreign corporation
  • an incorporated trustee on behalf of a trust where the trustee is also a trading, financial or foreign corporation
  • an Australian State/Territory Government agency or body
  • an authority of the Commonwealth such as the Commonwealth Science and Industrial Research Organisation.

The requirements of successful projects after receiving the funds are to provide progress reports, an end-of-project report, and other ad hoc reports that may be requested. Government representatives can also undertake compliance visits during the life of the project to ensure compliance with the grant agreement.

The closing date for applications is 29th of March 2021. Interested projects can apply from the link provided on the government website.

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