Supporting projects implementing circular solutions
John Fitzgibbon, CLOS CEO, Circular Economy Business Support Fund funding recipient; Christine Couzens MP, State Member for Geelong; and Matt Genever, Sustainability Victoria Interim CEO. Fourteen Victorian businesses are expected to prevent 108,967 tonnes of waste per year thanks to funding awarded through the Circular Economy Business Innovation Centre (CEBIC), which invests in and supports businesses and organisations in adopting circular practices.
Christine Couzens MP, the Member for Geelong, announced the recipients of the $4.8 million Circular Economy Business Support Fund and Circular Economy Innovation Fund. These funds focus on preventing or minimising waste and pollution, and keeping materials in use at their highest value for longer.
Couzens expressed her enthusiasm for the funding, stating,
'Avoiding waste will give Victorian businesses a competitive edge - boosting productivity and reducing waste left in landfill.'
The 14 funded projects will create 25 new partnerships and collaborations, and generate 183 new jobs, demonstrating the positive impact of circular economy initiatives on both environmental sustainability and economic growth.
Under Round 3 of the Circular Economy Business Support Fund, more than $3.3 million was awarded to 8 projects. These projects aim to enhance the capability and capacity of Victorian businesses across multiple industries in identifying, implementing, commercialising, and scaling circular solutions.
The Circular Economy Innovation Fund focuses on supporting research and development of innovative market solutions that apply circular design. Round 3 of this fund awarded more than $1.5 million to 6 projects.
The announcement was made at the old Ford Factory in Geelong, where Cross Laminated Offsite Solutions (CLOS), a recipient of the Circular Economy Business Support Fund, will use the funding to expand the factory's processing capabilities. CLOS specialises in off-site construction, manufacturing components in the factory and assembling them on-site.
The project aims to develop a 'closed panel system' that allows for the completion of finished wall and floor panels on a conveyor line. This funding will enable the business to deliver affordable, high-quality homes with lower emissions. Furthermore, the advanced manufacturing process will reduce construction waste by half and divert over 2,000 tonnes of waste from landfill annually.
The Circular Economy Business Support Fund and Circular Economy Innovation Fund demonstrate the Victorian government's commitment to driving the transition towards a circular economy.
