Funding offer for renewable technologyOctober 26, 2007 - 3:49PM...

Funding offer for renewable technology

October 26, 2007 - 3:49PM

Prime Minister John Howard has committed a re-elected coalition government to spending $75 million to create a competitive grants program for emerging renewable energy technology.

Mr Howard made the announcement at the Carnegie factory at Fremantle in Western Australia.

Carnegie has spent the past 10 years developing technology that will be able to generate both electricity and drinking water from the ocean.

"I'm pleased to announce ... that a re-elected coalition government will strongly support innovative renewable energy through a dedicated $75 million competitive grants program," Mr Howard told reporters.

Mr Howard also promised a $5 million grant to Carnegie so it can develop its wave technology to a commercial phase.