A Victorian firm producing a material said to be 100 times stronger than steel is among six growing businesses to have been given a share of $3.2 million in government grants aimed at accelerated growth prospects.
According to its website, Melbourne-based SupraG Energy was established in 2015 and uses exclusive access to two patents over graphene technology, with its graphene hydrogel membranes used for energy storage.
SupraG Energy received $1 million in funding under the federal government’s Accelerating Commercialisation grant scheme to build an advanced manufacturing facility, which will help it produce its innovative products and add significant scale.
Other businesses to benefits from the scheme are:
- Adelaide firm Ailytic, which is developing artificial intelligence (AI) software for manufacturers, and will benefit from a $310,000 cash injection
- Sydney-based Nodapp, also using AI to write documents in real-time for a range of sectors, will receive $190,000
- Liftango in Charlestown, NSW, which was given $303,000 to complete its on-demand logistics solution
- Brisbane-based Loadpro was granted $1 million towards the production of a new heavy-duty truck for the mining and construction sectors
- Fellow Brisbane business Aurtra received $422,626 towards its transformer condition monitoring system for the energy sector
“Accelerating Commercialisation grants support businesses to take their innovations through often costly commercialisation steps like trials and market testing, bringing them closer to launch in local and international markets,” said Minister for Federal Small and Family Business Craig Laundy.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.