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Greenhouse Technology Centre a First For AustraliaThe Minister for Innovation, John Brumby, and the Minister for Energy Industries and Resources, Theo Theophanous, today launched the Centre for Energy and Greenhouse Techonologies (CEGT) in the Latrobe Valley. By - 8th August 2003 - Back to News The Centre is a first of its kind in Australia and is dedicated to plugging the market gaps that exist when trying to commercialise new energy and greenhouse gas reduction technologies.
"The Bracks Government is providing funding of up to $14.25 million over three years for the Centre under its science, technology and innovation, and greenhouse strategies," Mr Brumby said.
"In order to be a world leader in innovation and environmental sustainability Victoria needs to ensure energy resources remain secure and affordable, while at the same time protecting the environment for future generations.
"The Centre has been established as a private company to encourage industry participation and co-investment in research, development, demonstration and commercialisation of energy-specific technologies.
"It will bring together organisations representing the fossil fuel and renewable energy sectors, academics, researchers and environmental bodies."
The Centre will fund energy research and development projects at the new and emerging pre-commercial stage such as:
- Technologies that increase efficiency or reduce greenhouse gas emissions when using fossil fuels as energy supplies;
- Optimised storage and transmission of energy;
- Renewable energy technologies; and
- Greater end-use efficiency in the industrial, commercial and residential sectors.
...Mr Theophanous said the Centre was one of many Bracks Government projects aimed at 'greening' Victoria and Australia's energy sectors.
"I am pleased to see the energy sector's enthusiastic support for the Centre which aims to find practical ways of reducing emissions while encouraging investment in Victoria's energy sector," he said.
"The Centre is a practical way we can work with industry, researchers and other levels of Government to get serious about reducing emissions and stimulate further investment."
Media contact: Tom Laurie 9651 5799 or 0418 362 409 www.vic.gov.au
As part of the Bracks Government's $100 million Greenhouse Strategy, the Centre will also establish and maintain a database of energy and greenhouse technologies and organise forums on energy technology issues.
Mr Brumby said the Government funding for seed capital would be leveraged from day one by private investment in co-funding for projects, membership and general capital investment.
"Under the proposed governance structure, funds for co-investment in projects will be sourced from project proponents. The private sector will be expected to contribute at least 50 per cent of the total cost," he said.
"The Centre will eventually generate sufficient income from success fees, membership, return on investment and other fee for service activities to sustain itself without the need for continued long-term reliance on government financial support."
Mr Brumby said Centre board members were: John Marshall (Independent Chair); Ray Wood (Independent Director); Roy Adair (Independent Director); Dr David Brockway (Shareholder Nominee Director); and Jan Dekker (Managing Director). The remaining Shareholder Nominee Directorship is yet to confirmed.
"The board is confident of reaching its target membership of 35 by the end of the Centre's first year of operation," Mr Brumby said.
Founding Members in the Centre include AGL, Origin Energy, CRC for Clean Power from Lignite, HRL Technologies, Selectronics, Latrobe Council, Melbourne University, Monash University, RMIT, Deakin University, ASIRC, CSIRO, Swinburne University and Gippsland Water.
The Australian Business Council for Sustainable Energy has assisted in the establishment of the Centre.
Source: http://gippsland.com/ Published by: news@gippsland.com
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