The Minerals Research Institute of Western Australia (MRIWA) said on Wednesday (October 30) that it is awarding five companies with research funding through its Mining Equipment, Technology and Services (METS) Innovation Program.
The funding totals AU$1.25 million, with Aquirian (ASX:AQN), Total Marine Technology, Big Roller Overland Conveyor Company, Electric Power Conversions Australia and CMG Operations receiving AU$250,000 each.
The WA government said it prioritizes “projects that will directly accelerate the development of companies, products and new markets benefiting the Western Australian economy” for the METS Innovation Program.
Aquirian, the only publicly listed company receiving the grant, will allocate the funding for developing automation for its existing Collar Keeper system. This would allow the driller to stay inside the cab, reducing personnel risk in drilling.
Total Marine Technology’s project is an automatous robotic process tank descaling system using advanced AI-driven 4D radar and 3D camera technologies.
Big Roller Overland Conveyor Company will use the funding to advance Big Roller, which is an energy-efficient large diameter roller modular conveyor system targeting iron ore mining in the Pilbara region.
Electric Power Conversions Australia will develop a cooling system for batteries in retrofitted electric mining trucks, and CMG Operations will advance Raptor Grav, a next-generation airborne gravimeter.
“Supporting research into cutting-edge technologies and techniques helps bring new products and services to market quicker,” Mines and Petroleum Minister David Michael said. “MRIWA funding is helping deliver this Government’s economic diversity priorities, while working to sustain our globally competitive mining sector through targeted research.”
The METS Innovation Program was established as an AU$3 million program that supports industry-led METS-related research projects and provides facilitation assistance for collaborative projects. The maximum amount of funding a company can receive is AU$250,000.
The program also offers assistance in connecting with potential collaborators and sponsors and support in navigating the innovation ecosystem. A group of research portfolio managers is also available to assist and offer insights on the development of projects.
According to the WA government, the program helps deliver a key plank of Diversify WA, the state’s economic development framework.
Applications for the next round of funding will close on March 4, 2025. Information on applications is available here.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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