CEFC Innovation FundOverview
This program aims to support the growth of innovative clean energy technologies and businesses which are critical to Australia's clean energy transformation. It is operated in consultation with ARENA, drawing on the complementary experience and expertise of the two organisations.
The Fund targets technologies and businesses that have passed beyond the research and development stage, and which can benefit from early stage seed or growth capital to help them progress to the next stage of their development.
The Fund uses CEFC finance to invest in innovative clean energy companies and projects. It can provide debt and/or equity finance for innovative clean energy projects and businesses which support renewables, energy efficiency and low emissions technologies. It does not provide grants.
Final investment approval is provided by the CEFC Board, which is responsible for all CEFC investment commitments made under the CEFC Act.
As announced in 2016, a total funding pool of $1 billion will be made available. Starting with $100 million in 2016-17, an additional $100 million will be available each subsequent year up to the $1 billion total.
Eligible applicants include Australian businesses.
Please refer to the website for the complete eligibility requirements.
Eligible investments are those that are:
- Clean energy technologies
a) Energy efficiency technologies
b) Low emission technologies
c) Renewable energy technologies
- Solely or mainly Australian-based
- Not in a prohibited technology
a) Technology for carbon capture and storage (within the meaning of the National Greenhouse and Energy Reporting Act 2007)
b) Nuclear technology or nuclear power
Please refer to the CEFC Complying Investments Guidelines for the complete list of eligible technologies.
The main assessment criteria include:
- A business case, including a developed financial model, market and customer validation, and commercially viable returns.
- An outline of the intended use of funds and a reasonable assessment of future funding that will be required.
- A team with a track record of delivery and supporting references.
- Independent technology or engineering validation, if available.
- Details of who else has debt or equity in the venture and the funds expected from the CEFC (generally prefer to remain below a 30% stake in any business).
- An outline of the risks facing the venture and how they will be mitigated.
- Exit strategy.
- Environmental benefits.
- Research & Development
- Business Support