Climate projects share $27m in funding

The green technology sector is set to benefit from more than $27 million in new
funding as part of the federal government's Climate Ready program.
The first round of funding for the program was announced by Science Minister Kim
Carr and will be shared between 32 new projects aimed at tackling climate change.
Big winners include wind turbine component manufacturer HofWind ($5 million), solar
panel developer BT Imaging ($3.5 million) and wave power developer Oceanlinx Limited
($2.9 million).
Senator Carr said the funding would also help to create and support around 400 new
jobs in the green sector.
"The projects will involve around 400 jobs, many of which will be high-wage and high
skilled - jobs that may not have been supported without Climate Ready," Senator Carr
said.
"It is about working in partnership with industry to support our best green ideas
and in turn creating high-wage, high-skill jobs."
Oceanlinx will use its grant to develop a new generation wave energy converter in
Port Kembla in NSW.
According to data released by the government, the development and implementation of
Oceanlinx wave energy technology could cut carbon dioxide emissions by 1.2 million
tonnes each year by 2017.
Wave power involves converting the physical energy contained in a wave into
electrical energy by using the wave's up and down motion to push air through a
turbine.