The Morrison Government is backing new technology to help Australian farms become more drought resilient.
The Government will support the Soil Carbon Company (SCC) with a $1.7 million investment through the Clean Energy Finance Corporation (CEFC) to develop new ways to improve soil quality and reduce emissions in the agricultural sector.
SCC, a biotechnology company, is developing a microbial treatment for seeds to help improve soil quality. This technology allows soil to better retain water, carbon and other essential nutrients. The carbon content in soil is an important indicator of how much fertiliser may be needed and how well the land can retain water.
Minister for Energy and Emissions Reduction Angus Taylor said the Government was committed to supporting emerging technologies that will reduce emissions while backing important industries such as agriculture that many regional jobs and communities rely on.
“Australian farmers have long played an important role in looking at new ways to reduce emissions through better land use,” said Mr Taylor.
“The Government is committed to supporting our farmers and agritech to develop innovative projects that will help to reduce emissions without driving up the cost of production or doing business.
“This investment is yet another demonstration of our technology-not-taxes approach to reducing emissions.”
This project is financed through the Government’s Clean Energy Innovation Fund and is part of SCC’s capital raising.