Funding supports new facility for manufacturer

GOLDEN Square advanced vehicle braking system manufacturer Aston Dynamics will benefit from $1.5 million in funding from the latest round of the federal government’s Industry Growth Program (IGP).

The grant will enable it to accelerate innovation and scale production, positioning the company to expand exports into key international markets including North America, Europe and Asia.

To support this growth, the engineering firm will invest in a new specialised manufacturing facility, significantly increasing production capacity to meet rising global demand.

Aston also anticipates between 40 and 60 new jobs will be created over the next two years.

“Aston Dynamics acknowledges and appreciates the government’s support in advancing the development of its next generation of high-performance braking systems and strengthening Australia’s position in advanced manufacturing,” founder, CEO and head of design Dr Dale Hynd said.

Minister for Industry and Innovation, and Science Tim Ayres said Australians are world renowned for their ingenuity.

“The government’s Industry Growth Program is the platform from which many growing businesses can transition from start-up to a global venture,” he said.

“The program not only provides a funding boost for local businesses to be able to take their idea from the lab to the factory floor, but also the local job market, supply chains and productivity.

“That’s what a future made in Australia is all about.”

Projects supported through the IGP are required to align with seven priority areas of the $15 billion National Reconstruction Fund – value-add in resources; transport; medical science; defence capability; renewables and low-emission technologies; value-add in agriculture, forestry and fisheries; and enabling capabilities.

For more information, including further eligibility requirements, visit business.gov.au.