Program Status: Closed for new applications.
Description: REEF provides venture capital and managerial advice for small, innovative renewable energy companies. This includes companies which are commercialising direct or enabling renewable energy technologies and services, such as manufacturers of photovoltaic cells or the inverters to convert this to useful electricity, providing there is an innovative development being commercialised.
The investee company receives capital, managerial expertise and enhanced business reputation as a result of the REEF investment. In return for the provision of capital, the fund manager acquires a part-ownership of the company and usually a seat on the Board of Directors. The Commonwealth contributed $17.7m to establish the fund, CVC REEF Ltd, which is matched by private sector funding of $8.8m for a total fund of $26.6m.
Contact: Should you have an inquiry about REEF, please contact the REEF team via the AusIndustry Hotline on 13 28 46 or email venturecapital@innovation.gov.au.