Laserbond Limited receives $2.61 million for collaborative project

Monday, 13 February 2017
Liberal Senator for Western Sydney, the Hon. Marise Payne welcomes federal government funding which will benefit the electorate of Macarthur by helping local industry and research institutions work collaboratively to develop a technological solution to extend the life of drilling tools while increasing performance and lowering costs.
 
Laserbond Limited will use the $2.61 million in funding to develop and deploy new surface engineered materials and application technologies to the drilling tools and drill rig used for exploration and extraction of mining resources.
 
New drilling products will also be developed and commercialised.
 
The funding comes under the government’s Cooperative Research Centre Projects (CRC-P) initiative, which supports short-term industry-led collaborations to solve industry problems and deliver tangible outcomes.
Seventeen projects Australia-wide, selected from 57 compliant applications, will share in $34.5 million in funding.
 
With $79.9 million in cash and in-kind inputs from more than 70 participating businesses, partnerships and research institutions, this represents $114.4 million invested in outcomes-focused research.
 
The projects will apply high quality research to solving an industry-specific issue, or develop new products, technologies or services.
 
“This work supports the National Innovation and Science Agenda pillar to foster industry-research collaboration,” Senator Payne said.
 
The Minister for Industry, Innovation and Science, Senator the Hon. Arthur Sinodinos, also announced a third CRC-P round.
 
Applications for round three are open until 22 March 2017, with funding outcomes expected to be announced in mid-2017.
 
Information on the second round recipients, and how to apply for the third round, is available from: https://www.business.gov.au/crc-p

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