wiredInUSA October 2016

Australian minister for the environment and energy Josh Frydenberg

Clean energy funding

North West data passage

Australia’s government has announced the creation of a $15 million seed fund to back the development of clean energy technologies. Australian minister for the environment and energy Josh Frydenberg announced that the fund (CESF) will be managed by Artesian Venture Partners and will invest in between 30 and 50 start-up businesses over the next five years. Some of the finance will come from the state-owned Clean Energy Innovation Fund (CEIF), established earlier this year to drive research incleanenergy technology. The Australian government believes that the seed fund model will help to build partnerships between the Australian investment community and tech firms, helping to overcome a recent general decline in venture capital investment. Josh Frydenberg said in a statement: “Technologies and businesses will be attracted to the early stage financial support of the seed fund and create a pipeline of potential deals for more substantial later-stage capital investors.”

Nextgen Group and Alcatel-Lucent Submarine Networks (ASN) have launched Australia’s first purpose-built, subsea fiber optic network to serve the growing need for telecommunications services in Australia’s North West growth corridor. The North West Cable System (NWCS) creates a link from Darwin, in the Northern Territory, to Port Hedland in Western Australia, connecting offshore gas and oil facilities in the Browse Basin to onshore data centers and business headquarters. The high speed data communication cable is integrated into Nextgen’s 17,000km national transmission network and Metronode’s national network of data centers. Nextgen Group’s CEO, David Yuile, said the $139m cable system will not only provide essential support for Australia’s offshore oil and gas projects, but promote competition with new telecommunication infrastructure for businesses andconsumers in regional communities at the cable landing points.

wiredInUSA - October 2016

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