A new funding round from the National Soil Carbon Innovation Challenge will provide grants of up to $20 million to advance technologies which will aim to reduce soil carbon measurement costs.
Improving soil carbon stocks can improve farm productivity and crop yields through better nutrient and water retention, and boost resilience to drought and erosion. Industry tells us the current cost of measurement is a barrier to the widespread adoption of soil carbon projects. Reducing the cost of soil carbon measurement to less than $3 per hectare per year is a priority under the Technology Investment Roadmap.
Round 1 of Development and Demonstration funding aims to fast-track the development of lower-cost soil carbon measurement approaches.
Applicants will need to contribute at least 20% of eligible expenditure and submit a feasibility study of their technology.
Submissions are open until 3 March 2022. We expect to open a second round of funding mid-year.
For information about funding contact business.gov.au