A Victorian solar company that uses mirrors to concentrate the sun's rays has been given a funding boost from the federal government to get its groundbreaking technology into commercial production.
The company, RayGen, uses low cost mirrors to track the sun's rays and reflect them onto an ultra-efficient solar receiver at the top of a central tower.
The initial pilot program in Newbridge in Victoria is now complete and the federal government has invested $2.9 million to support the production of a larger scale system and a manufacturing line in Blackburn.
"Our task now is to turn RayGen's world-leading technology into a commercially viable system that can produce electricity at a lower cost than burning fossil fuels," the company says on it's website.
Federal Environment Minister Greg Hunt said the funding would help the company, which was "punching above its weight on the global stage", to achieve commercialisation.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
"It shows the continuing value of Australian ingenuity - and that we're on the forefront of developing solutions for transitioning to a lower-carbon future," Mr Hunt said in a statement on Monday.
The project has already attracted Chinese investment and is expected to be completed by December.
