Advanced manufacturer Corrosion Instruments (CI) has been awarded the first co-investment grant under the Northern Territory Advanced Manufacturing Ecosystem Fund (AMEF).
Corrosion Instruments is an advanced manufacturing company that designs, manufactures and sells cutting-edge cathodic protection, monitoring and measurement equipment.
The equipment measures and monitors the performance of the cathodic protection system, which protects critical assets such as gas and water pipelines, wharves, storage tanks and tunnels.
According to Minister for Advanced Manufacturing Nicole Manison, CI will receive $110,000 in co-investment from the fund which will be matched by CI and its partners dollar-for-dollar, for a total project commitment of $220,000.
“Advanced manufacturing will be a major jobs driver of the future, and this new partnership will provide local manufacturers with the ability to turn their dreams into realities,” the Minister said.
“Corrosion Instruments will play a major role in our natural resource sectors, as well as our future water projects.
“By growing Territory capabilities in advanced manufacturing, we are expanding industries and export opportunities, creating new opportunities for investors and exciting job opportunities for Territorians.”
The co-investment will help CI develop a local testing, prototyping, and small-batch manufacturing facility to enable the manufacture and commercialization of its next-generation products in the United States.
The facility, to be located in Palmerston, will be the Territory’s only one of its kind, providing a capacity that would otherwise have been outsourced interstate.
Corrosion Instrument’s Managing Director, Sam Pattemore said the co-investment will allow the company to commit to developing a new, Territory-based capability and the skilled jobs that support it.
“Without this commitment from AMGC and the Territory Government, we would otherwise have sent the work interstate,” he continued.
“The ability to prototype, test and manufacture locally will allow us to expedite commercialisation of future projects, before moving to full-scale production and later export. This will grow opportunities for Corrosion Instruments and the Territory.”
