Ground-breaking brake technology developed by a Perth business is set to increase in prominence on the world stage after the Morrison Government awarded the company a $240,000 grant aimed at boosting its export capability.
Minister for Defence Industry Melissa Price today announced Advanced Braking Technology (ABT), based in Wangara, as the recipient of a Defence Global Competitiveness Grant.
The company is the first to receive a Defence Global Competitiveness Grant since the Government increased its value from $150,000 to $240,000 and reduced an applicant’s co-contribution rate from 50 per cent to 20 per cent.
The increase was part of the Government’s support to defence industry as it navigated the COVID-19 pandemic and is evidence of the Government’s continued backing of Australian defence industry to pursue opportunities in global markets.
“Advanced Braking Technology is a global and trusted provider of braking technologies in the mining, civil construction, and most recently the defence sectors,” Minister Price said.
“Its Australian designed, developed, and manufactured system, Failsafe, is a market and technology leader.”
The company’s recent work with Thales on the Hawkei Protected Mobility Vehicle has provided an opportunity for it to diversify outside the mining and resource industries.
The $240,000 grant will be used by ABT to purchase a specialised computer-controlled machine, known as a CNC machine, to manufacture heavy vehicle brake mechanism components.
This will provide ABT with an opportunity to compete globally following changes to international standards in brake mechanisms.
“ABT here in Perth is one of the great success stories of advanced manufacturing, delivering cutting edge capability to the ADF and delivering jobs for Australia,” Minister Price said.
“This grant will allow ABT to pursue international defence sector opportunities, particularly with NATO countries.”
The Defence Global Competitiveness Grant Program has supported more than 40 Australian small and medium businesses pursue opportunities in global markets and boost their export capability.
“This program is a key part of the Morrison Government’s plan to increase export opportunities and grow Australia’s defence industry and economy,” Minister Price said.
“We recognise that export success is a win for industry, a win for Defence and a win for the Australian economy.”
Companies can apply for the program at any time through www.business.gov.au/dgc.