Future Made in Australia Innovation Fund: $1.5 billion in funding towards renewable energy

As part of the Federal Budget, the Australian Government announced up to $1.5 billion investment in the Future Made in Australia (FMIA) Innovation Fund administered by ARENA. This grant funding will support pre-commercial innovation, demonstration and deployment of renewable energy and low emission technologies to support Australia’s transition to net zero. 

The FMIA Innovation Fund is designed to: 

• Drive the adoption and commercialisation of new low emission technologies 
• Strengthen Australia’s capacity to produce and manufacture low emission technologies 
• Enhance supply chains to support the clean energy transition 
• Build knowledge, skills, and workforce participation in the sector. 

Launched in December 2025, the FMIA Innovation Fund is an ongoing, open program with funding available across three key areas: 

• $750 million to Green Metals including iron, steel, alumina and aluminium 
• Initial tranche of $200 million to Renewable Energy Technology Manufacturing (RETM), enabling development of technologies 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. 

Further information on these opportunities such as program streams, eligibility and the assessment process can be found on ARENA’s website.

How BDO can help 

BDO has a proven track record in securing numerous government grants for a range of clients across many different industries, with a depth of experience working with clients in the renewable energy sector. We assist with the preparation of applications and partner with you to help achieve the best possible outcome. For support applying for the FMIA Innovation Fund or any other government grants, contact our R&D and government incentives team.