The Australian Government is establishing a AU$1 billion Clean Energy Innovation Fund to support emerging technologies make the leap from demonstration to commercial deployment. 

This will drive innovation and create the jobs of the future, while delivering a financial benefit from the investment of public money.

The $1 billion Clean Energy Innovation Fund will be jointly managed by the Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency (ARENA), drawing on their complementary experience and expertise. It will provide both debt and equity for clean energy projects.

Read the press release on the Australian Prime Minister's site.

Photo credit: Mike Cassano (Flickr)