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Defence has awarded a new export grant to a Perth-based brake technology developer.
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Wangara-based SME, Advanced Braking Technology (ABT), has secured $240,000 in government funding as part of the Defence Global Competitiveness Grant — an initiative aimed at expanding export opportunities for local industry.
Minister for Defence Industry Melissa Price congratulated the firm, noting its experience in the defence, mining and civil construction sectors.
“Its Australian designed, developed, and manufactured system, Failsafe, is a market and technology leader," Minister Price said.
ABT, which recently supported Thales’ Hawkei Protected Mobility Vehicle project, is expected to use the grant to purchase a specialised computer-controlled machine, known as a CNC machine, designed to manufacture heavy vehicle brake mechanism components.
The new technology ensures that ABT’s brake mechanisms align with new international standards.
“ABT here in Perth is one of the great success stories of advanced manufacturing, delivering cutting-edge capability to the ADF and delivering jobs for Australia,” Minister Price added.
“This grant will allow ABT to pursue international defence sector opportunities, particularly with NATO countries.”
ABT is the first SME to receive the grant after the government increased its value from $150,000 to $240,000 and reduced the co-contribution rate from 50 per cent to 20 per cent.
The increase formed part of the government’s economic response to the COVID-19 pandemic.
Since launching, over 40 Australian businesses have benefited from funding via the Defence Global Competitiveness Grant Program.
“This program is a key part of the Morrison government’s plan to increase export opportunities and grow Australia’s defence industry and economy,” Minister Price said.
“We recognise that export success is a win for industry, a win for Defence and a win for the Australian economy.”
[Related: Defence issues latest round of SICP grants]
