Gain of $4 million from Clean Energy Innovation Fund to expand internationally
Bulk liquid transport equipment manufacturer Omni Tanker will benefit from $4 million investment from the Clean Energy Innovation Fund (CEIF) to aid its tanker innovation expansion push into overseas markets.
The company has had approvals granted for its tanks in the US and Europe and the CEIF funding is part of wider $7.9 million capital raising efforts, aiding the growth of its NSW manufacturing plant and specialist workforce to boost production capacity by 2020.
It says its OmniTainer and OmniTank products contribute to lower emissions in the transport industry by using less energy than conventional steel tanks through its lighter weight and greater chemical resistance.
Omni Tanker says the tank container market has a global fleet of more than 550,000 units and is growing by more than 8 per cent a year.
“Globally we are seeing significant growth in the tank container market, and transporters and operators are all seeking new ways to improve safety and drive profitability,” CEO Daniel Rodgers says.
“Our proven technology is compelling for users of transport tanks and we are scaling our production capability to meet the global demand.
“We are also pursuing other avenues for the technology in collaboration with the University of New South Wales and other industry partners through initiatives including the UNSW centre for Automated Manufacture of Advanced Composites (AMAC) and the Australian Government’s Advanced Manufacturing Growth Centre (AMGC).”
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The CEIF is administered by the Clean Energy Finance Corp (CEFC), the body responsible for clean energy projects on behalf of the Australian Government, which has now invested $64 million across 10 transactions.
“This is an exceptional Australian technology, being manufactured in Australia and exported globally. We are very excited to be working alongside Omni Tanker as it scales up to revolutionise the transportation of corrosive and hazardous goods worldwide,” CEIF executive director Ben Gust says.
“This investment is about supporting leading-edge innovation to tackle transport-related carbon emissions, which are a significant part of the greenhouse gas emissions challenge.
“Companies such as Omni Tanker demonstrate the exciting potential of Australian innovators to lead the transition to a low carbon economy. We are pleased to be able to support Omni Tanker in this next important phase of its growth.”