National Reconstruction Fund Corporation Archives - InnovationAus.com

NRF Corporation racks up $8.7m bill before investing

Joseph Brookes — Thu, 01 Aug 2024 09:22:43 +0000

The independent entity steering the $15 billion National Reconstruction Fund has racked up $8.7 million in expenses before making a single investment, as it approaches a one-year anniversary with little to offer industry. The costs have been accruing for 11 months as the new corporation tries to sort through more than 300 applications to ensure...

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‘Of course we should be picking winners’ : NRF chair Martijn Wilder

Joseph Brookes — Tue, 23 Apr 2024 12:10:50 +0000

The head of the Australia’s $15 billion industry fund has thrown his support behind the more interventionist approach of the Albanese government, as he prepares to turn on the taps for local manufacturing projects. Due diligence is currently underway on the first projects to receive investment from the National Reconstruction Fund (NRF) that was promised...

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NRF took more than 100 inquiries without a formal process

Joseph Brookes — Mon, 19 Feb 2024 20:19:06 +0000

At least 130 inquires about investment from the $15 billion National Reconstruction Fund were made before a formal application channel was established, with businesses accessing multiple pathways in search of government backing, including approaching the minister. At Senate Estimates on Thursday night, officials from the new National Reconstruction Fund (NRF) Corporation and the Industry department...

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Lessons from abroad: Green energy and de-industrialisation

Justin Hendry — Fri, 16 Feb 2024 07:40:01 +0000

“You can always spot the pioneers by the arrows in their backs,” is an adage often uttered when all the best laid plans around a new, new thing don’t pan out. For decades, Australia’s tepid approach to new-to-the-world innovation, enterprise and policy has personified this kind of cultural aversion to risk. One advantage of being...

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Slow NRF ‘not meeting expectations’

Joseph Brookes — Mon, 15 Jan 2024 06:27:20 +0000

The Albanese government’s flagship industry support program has received hundreds of approaches for investment despite lacking a formal application process, months after it was declared “open for business”. The interest from companies seeking support from the $15 billion National Reconstruction Fund comes as further guidance and a dedicated application process for the program are still...

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NRF gets its investment mandate, now open for business

Brandon How — Thu, 30 Nov 2023 03:46:22 +0000

The federal government has declared the National Reconstruction Fund open for business, officially delivering the NRF Corporation its investment mandate – the investment framework that will guide decisions and a key milestone toward getting money flowing. The investment mandate includes a benchmark rate of return of 2-3 per cent above the five-year government bond rate,...

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Manufacturing union secures last NRF board position

Brandon How — Fri, 20 Oct 2023 05:31:19 +0000

Australian Manufacturing Workers’ Union assistant national secretary Glenn Thompson has filled the last National Reconstruction Fund Corporation board position more than two months after the appointments were announced. Mr Thompson has been in his role at the union since 2004 and is also on the board of Australian Super, UCover, and the Australian Construction Industry...

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Search begins for inaugural NRF chief executive

Justin Hendry — Thu, 28 Sep 2023 11:27:25 +0000

The Albanese government has begun its search for an inaugural chief executive to take charge of the new entity overseeing its landmark $15 billion National Reconstruction Fund. Executive search firm Johnson Partners has been appointed to find a leader with investment experience to join the newly created National Reconstruction Fund (NRF) Corporation. The position was...

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First $5bn flows to NRF as the corporation is formalised

Justin Hendry — Mon, 18 Sep 2023 10:46:03 +0000

The entity responsible for overseeing the Albanese government’s signature $15 billion National Reconstruction Fund has been formally established, almost six months after the legislation passed through Parliament. The National Reconstruction Fund (NRF) Corporation came into being on Monday – the same day that the eight-member board of directors established to make investment decisions held its...

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Govt to appoint NRF board ‘very soon’: Husic

Brandon How — Tue, 20 Jun 2023 20:48:04 +0000

The independent board that will have the final say on investments through the Albanese government’s flagship $15 billion National Reconstruction Fund is close to being appointed. Industry and science minister Ed Husic told InnovationAus.com that the selection would be made “very, very soon”, with the initial list of candidates already with the government for consideration....

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