Future Made in Australia Innovation Fund

The Future Made in Australia (FMA) Innovation Fund (the Program) administered by ARENA will provide up to $1.5 billion in grant funding to support pre-commercial innovation, demonstration and deployment of renewable energy and low emission technologies (Technologies), to support Australia’s transition to a net zero economy. FMA is an ongoing program which will remain open until funding is exhausted or ARENA closes the Program. Successful projects are expected to achieve one or more of the following Program Outcomes:

• increase uptake of the Technologies through innovation and commercialisation activities.
• improve Australia’s capability and capacity to produce or manufacture the Technologies.
• support and/or contribute to stronger supply chains to enable increased use of the Technologies.
• improve knowledge, skills and/or workforce participation associated with the Technologies.

ARENA undertook targeted consultation through March and April 2025 with market participants, key consultancies and industry bodies and associations, to understand and identify industries and areas most suited for funding within the priority areas.

The FMA Innovation Fund launched in December 2025 and will be an ongoing, open program. Grant funding will be available across three Priorities (the Priorities):

• $750 million to Green Metals including iron, steel, alumina and aluminium.
• Initial tranche of $200 million to Renewable Energy Technology Manufacturing (RETM) to enable development of technologies seeking to alleviate critical supply chain challenges facing the clean energy transition.
• $250 million to Low Carbon Liquid Fuels (LCLF) including sustainable aviation fuels and renewable diesel.