Carbon capture, use and storage hubs and technologies | Technologies stream 

Tax Insights

The Carbon Capture, Use and Storage Hubs and Technologies Program (CCUS) is a $250 million initiative that runs over 10 years to 30 June 2031 and is targeted at businesses that have a focus on supporting collaboration and innovation in CCUS technologies and the identification and development of viable CO2 storage sites.

It is a key component of the $1.2 billion technology co-investment facility established through the 2021-22 Federal Budget to incentivise private investment in technologies outlined in the Government’s Technology Investment Roadmap.


ARE YOU AN AUSTRALIAN COMPANY UNDERTAKING ACTIVITIES IN RELATION TO:

  • Reducing Australia’s greenhouse gas emissions
  • Contributing to effective global action on climate change
  • Supporting technological innovation in clean and renewable energy

THE OBJECTIVES OF THE TECHNOLOGIES STREAM ARE TO:The Carbon Capture, Use and Storage Hubs and Technologies Program (CCUS)

  • Drive cost reduction in deploying CCUS at scale through innovative advancements in CCUS technologies.
  • Progress the deployment of CCUS projects from R&D towards commercial operation.
  • Foster domestic and international collaboration to research, develop or commercialise CCUS technologies.
  •  Improve knowledge of viable large-scale CCS hub sites in Australia, particularly in proximity to potential Clean Hydrogen Industrial Hubs or clean LNG production facilities.

VALUE

The CCUS Technologies Stream will provide co-funded grant amounts of between $1m to $30m with the grant amount to be up to 50% of eligible project expenditure.

The grant opportunity will support projects with the following focus areas:

  •  Researching, developing or commercialising carbon capture and storage technologies;
  • Researching, developing or commercialising CO2 utilisation technologies; or
  • Feasibility and geological studies into new potential CO2 storage locations.

Open date: 11, October 2021

Close date: 8, November 2021 at 5pm AEDT

Download the eligibility guidelines here >>


For more information

If you have any questions or require further information on eligibility, please contact Jessica Olivier (Sydney) or Steve Elias (Perth) to discuss this in more detail.

RSM in Sydney - providing accountanting, auditors and consultants for sydney Businesses