$6.15 billion investment for net zero, resilience and materials as war rages
The Australian government on Thursday said it would bring forward the $5 billion funding for the Net Zero Fund, $1 billion for the Economic Resilience Program and $150 million through the Forestry Growth Fund.
This would form part of it $6.15 billion package to “keep Australian businesses moving and ease pressure from global disruptions” as US President Donald Trump continues to threaten global security.
The net zero fund, which was originally on track to open mid-year, is set to increase local manufacturing investment into energy efficiency for hard-to-abate sectors, as well as scaling clean energy supply chains such as wind, solar, energy storage and low-carbon liquid fuel.
The forestry fund will support timber processing for housing construction use and provide investment to mills and processing facilities to move up the value chain.
These programs are all sub-funds under the government’s $15 billion National Reconstruction Fund, but brought forward from their effective dates to provide “concessional capital”.
The fuel excise reduction will also increase to 32 cents per litre.
More funding for electric trucks to hit the road
Among the dread caused by the oil crisis and the war in the Middle East, there’s some good news for our vehicles – the shortage is forcing us to innovate faster. The Australian Renewable Energy Agency (ARENA) is flagging a $25.3 million in funding for electric truck charging provider NewVolt to deliver three open-access, fast-charging hubs. The hubs will be for medium to heavy electric trucks and built along major freight corridors in Melbourne’s west, south-east and northern suburbs, to move more trucks off diesel.
Chief executive Darren Miller said heavy freight is one of the “toughest” transports to electrify, thanks to upfront costs and lack of infrastructure, and hopes this move will lower the barrier to entry for operators.
He said the nation’s freight supply chain is reliant on imported diesel, and decarbonising is not only good for emissions but also protects the sector from international oil price volatility by powering trucks with Australian electricity.
A trial of what’s possible
Meanwhile, New Energy Transport, which operates a fleet of fully electric trucks powered by wholesale renewable energy, has progressed further with its trial last year to replace diesel trucks for Who Gives a Crap.
It has finally completed an “end-to-end” freight delivery from the distribution centre to the customer’s door from Sydney to Canberra, which is a significantly longer trip than its trip from Port Botany to Western Sydney last year. The trip was fully electric, zero emissions and used a heavy prime mover during the transport, and an electric last mile fleet which delivered directly to customers in Canberra.
The heavy truck maintained high speeds along the entire route, including the steep Skyline and Governess hills near Goulburn, where diesel trucks usually struggle and completed their journey 25 minutes faster. The truck was also 84 per cent lower in energy costs compared to a diesel truck.
Smart Energy Council’s chief executive John Grimes chimed in at the celebration, saying China had sold more electric trucks in one year in 2025 compared to Australia’s entire diesel fleet, whereas Australia would “stop and starve” if diesel stops. He said electrifying trucks means “we’re ready” to “power it all with sun and wind” and that “every litre of diesel saved… is one we keep for farmers.”
Flying ferries on the horizon
If you’ve been jealous of Sweden getting the world’s first electric flying ferries last year, you’d be glad to know that Australia will soon be joining the bandwagon. New Zealand marine transport builder Vessev, as well as Australia’s own electric hydrofoiling experts Enautic, will be partnering to bring this new technology to Perth.
The technology involves using “foils”, which are underwater plane wings, to lift the boat out of the water, which eliminates water resistance, meaning the energy needed to move can be reduced by up to 90 per cent (which is great news considering the oil crisis) and creates no wake. Not to mention dramatically faster travel times at 25 knots compared to a commuter ferry, which often travels between 4 and 15 knots.
The vessels VS–9 will operate on the Swan River, initially through premium tourism experiences such as the Swan Valley cruises, twilight sailings and private charters, with plans to introduce the ferries to commuter routes in the future. The builders said Australia, which has a strong renewable energy adoption and focuses on sustainable transport, makes it a natural market to expand into.
Boomerang Labs acquires ACE Hub
Circular economy hub and accelerator Boomerang Labs has been given ownership of Planet Ark’s ACE (Australian Circular Economy) Hub Portal, which shares knowledge with thousands of professionals in business, government, academia and community. The lab said it will support the portal and provide practical circular economy solutions to businesses and communities, and will rename the platform the Australian Circular Economy (ACE) Community. The platform will also improve usability and increase participation. Existing members will be invited to join the new portal.
Jobs
Beyond Zero Emissions has announced that its chair, Geoff Summerhayes, will be stepping down at the end of June, and taking his place will be Kylea Tink, former independent federal member for North Sydney.
Tink had lost her ability to run in the 2025 elections due to the electoral division of North Sydney being abolished, which was then distributed to Warringah, Bradfield and Bennelong. She is currently the CEO of Foodbank Australia and remains an ambassador for the Community Independents Project, mentoring new candidates. Her career involves many strategic, advocacy and communication roles at not for profits like the Harrison Riedel Foundation, Youth Insearch Foundation and Camp Quality. She had also been the CEO of the McGrath Foundation for five years.