$127.9m Funding Rolled Out for Fleets Switching to EV

The Australian Renewable energy Agency (ARENA) has recently announced that it will pump an additional $127.9 million to help fleets switch to new zero emissions vehicle (ZEV) technology over the next four years.

This is part of the recently announced $178 million cash boost following the success of the Future Fuels Round 1.

Operating as a competitive, open, and ongoing program, this round of the Future Fuels Program aims to make the integration of ZEVs into fleets easier. It is “designed to drive co-investment at scale in charging and refuelling infrastructure projects for our future transport needs, including electricity, hydrogen or biofuels.”

In a statement, ARENA said that “Funding will be available for light vehicle fleet operators for charging and electrical infrastructure, while heavy fleet operators are eligible for funding towards enabling infrastructure and some support for vehicle costs.”

In addition, funding will also be provided for projects that incorporate hydrogen fuel cell vehicles and refuelling infrastructure.

ARENA CEO Darren Miller said that this expanded program would build on the early successes of the Future Fuels Fund and drive the shift to ZEVs.

“Assisting fleet users to move to zero emissions vehicles means getting more zero emission cars and trucks on the road sooner, driving the road transport sector toward a net zero future.”

Mr. Miller added that apart from reducing emissions in the short term, this move will also help create a market for second hand vehicles in the future paving the way for more consumers to switch to ZEVs on their next vehicle purchase.

With the help of Future Fuels Round 1, over 400 public fast charging stations for EVs have started to be built across Australia giving rise to the “largest ever expansion of public fast charging infrastructure” in the country.

“This fresh cash injection brings the total value of the Future Fuels Fund to $250 million and has enabled ARENA to launch the fleet program with a $127.9 million envelope,” ARENA said.

Fleet operators who are interested in this round of the Future Fuels Program may register for the ARENA Future Fuels Program Information Session happening on Monday, 7 March 2022 between 2:00 PM and 3:00 PM (AEDT). This session will include information about the program and an opportunity to ask questions.