The Clean Energy Innovation Fund is the largest dedicated Australian investor of its kind. It was created as a specialist financier to invest $200 million in early-stage clean energy companies. 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. It is operated with the assistance of ARENA.
Agribusiness plays a critical role across the Australian economy, with a well-earned reputation for quality produce, innovative production methods and local employment opportunities – whether producing for the domestic market or extending into the highly competitive global market. This track record makes agribusinesses ideally suited to capitalise on the growing wave of energy efficient and clean energy technology. The CEFC is an active financier to agribusiness, including through our tailored asset finance programs.
The CEFC has a strong focus on extending the reach of our finance to support investment in smaller-scale clean energy projects. Through our asset co-finance programs with the major banks, specialised lenders and funds, we continue to deliver the benefits of clean energy to energy users, whether on the farm, in households, on the road or in a factory. We are proud to have helped finance more than 18,000 smaller scale projects, involving farmers, small businesses, manufacturers, building owners and community facilities.
Lowering transport-related emissions is critical to the broader decarbonisation of the Australian economy. We actively support investment to accelerate the purchase of electric and plug-in hybrid electric vehicles, for individual, small business and fleet buyers. In addition, through the Clean Energy Innovation Fund, we are financing start-up companies targeting the EV market. According to our research, electric vehicles could represent more than 90 per cent of all cars and light commercial vehicles on Australian roads by 2050.