Powering the Regions Fund — Safeguard Transformation Stream
Offers research teams and institutions for Powering the Regions Fund Safeguard Transformation Stream in energy systems, climate technology, and manufacturing.
The Powering the Regions Fund — Safeguard Transformation Stream (PRF-STS) is an Australian Government program providing AUD $600 million in matched competitive grants to help trade-exposed industrial facilities covered by the Safeguard Mechanism bring forward decarbonisation investments. Administered by the Department of Climate Change, Energy, the Environment and Water (DCCEEW) and delivered through the DISR Business Grants Hub via business.gov.au, the program sits within the broader Powering Australia policy plan. Round 1 of the STS opened 7 August 2023; applicants should confirm current round status via business.gov.au and GrantConnect before building an application.
Eligibility is limited to for-profit entities operating trade-exposed industrial facilities already covered by Australia's Safeguard Mechanism — specifically facilities in the metals, critical minerals processing, chemicals, and cement sectors. The program requires matched funding: the government grant covers 50 percent of project cost, with the applicant responsible for the balance. Award amounts are negotiated per project within the $600 million total STS allocation; no per-applicant cap has been published. Applications are submitted through business.gov.au and inquiries can be directed to PRF@dcceew.gov.au.
For industrial operators in covered sectors, PRF-STS is the primary government co-investment mechanism for large-scale decarbonisation capital projects. Winning applications will demonstrate a concrete technology adoption or investment pathway that materially reduces Safeguard-regulated emissions, supported by project cost evidence sufficient to anchor the 50 percent matched grant calculation. Facilities should verify Safeguard Mechanism coverage status, confirm the current round is open, and engage DCCEEW and the Business Grants Hub early in project development.
Matched competitive grants for trade-exposed Australian industrial facilities covered by the Safeguard Mechanism to fund decarbonisation technology investments in metals, critical minerals, chemicals, and cement sectors.
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