The newly expanded $250 million Future Fuels Fund will help business to buy low and zero emissions vehicles in commercial fleets over the next four years.
Up to $127.9 million will be available to support the integration of electric vehicle technologies into both light and heavy vehicle fleets, as well as to support the commercialisation of hydrogen as a transport fuel in fleets.
The program will be managed by the Australian Renewable Energy Agency (ARENA).
Through the Future Fuels and Vehicles Strategy, the government has committed $2.1 billion to partner with industry to support the uptake of low and zero-emissions vehicles. The strategy identified commercial fleets as a priority area for support.
The Minister for Industry, Energy and Emissions Reduction, Angus Taylor, said the program will help Australian fleet operators shift to future fuel technologies by co-investing in EV charging and hydrogen refuelling infrastructure.
“Through co-funding the essential enabling infrastructure – such as charging stations or even electrical upgrades to three phase power – we will ensure Australian business can embrace technologies that will help to both save on their operation costs and reduce emissions,” he said.
“Including hydrogen refuelling as a priority area will help accelerate the decarbonisation of heavy and long-distance vehicle fleets where battery EVs may not be a viable option.
“This fleets-first approach will also create a larger market for second-hand vehicles, which will improve affordability and accessibility for other consumers.”
The Future Fuels and Vehicles Strategy was released in November 2021 and expanded the Future Fuels Fund to $250 million. Future funding will target public charging infrastructure, public hydrogen refuelling stations, and private household smart charger installations.
The expanded fund is expected to result in more than $500 million of private and public co-investment, result in around 84 per cent of the Australian population having access to convenient access to fast public charging and create more than 2,600 new jobs.
Round 2 of the Future Fuels Fund opened on 19 February 2022 and further information about the program is available on the Future Fuels Fund web page.
