A Darwin business will receive Australian Government support to fast-track their innovative idea to new markets.
Micronised Mineral Solutions is amongst twenty businesses across Australia to share in a total of $11.3 million in Entrepreneurs’ Programme funding to help them commercialise their products and services.
The company, based at East Arm, will receive a $213,086 grant to develop their Acid Mine Water Treatment project, an innovative process to decontaminate acid mine drainage and toxic mine water which will reduce mine operational costs and the risk of environmental damage through accidental discharge.
Minister for Industry, Innovation and Science Greg Hunt said the commercialisation grants would help businesses develop new processes, products and services.
“Product trials, licensing, and manufacturing scale-up are essential and often challenging steps in taking new products to market,” Mr Hunt said.
“This initiative is part of the Australian Government’s ongoing investment in ensuring businesses can use their innovative ideas to grow and succeed, regardless of their size or location.”
Country Liberals Senator for the Northern Territory, Nigel Scullion, welcomed the announcement, noting the benefits of the project to the Territory.
“Successfully commercialising more Australian innovations will in turn help to boost industry competitiveness and create growth for the Territory and for Australia,” Senator Scullion said.
“Micronised Mineral Solutions’ innovative product will help to address a real need in the mining industry, with the grant being to verify the process to potential national and international customers.”
So far, the Government has invested $78.1 million since commencement of this initiative – helping 146 Australian businesses to get their products off the ground.
A full list of recipients can be found at business.gov.au/ac funding offers