Melbourne-based Corvus Technology Solutions has received the first round of funding under its Modern Manufacturing Initiative (MMI) grant from the Australian Government.
Corvus was awarded a $3 million grant under the MMI last year, as part of the Australian Government’s larger $2.5 billion Modern Manufacturing Strategy.
In particular, the funds will be used to improve Australia’s sovereign capability by installing high-precision machinery at Corvus’ manufacturing hub in Victoria, Australia.
This effort will enable Corvus to produce a vast number of precision components and tooling for the electronics, aerospace, automotive, medical device, and defence industries, among others, with extremely high accuracy and consistency.
The funds obtained through the MMI, according to Corvus Operations Manager Ryan Higgins, would not only improve Australia’s sovereign manufacturing capabilities but also significantly increase local employment.
“The $3 million awarded under the MMI will help us establish fully integrated, precision manufacturing capabilities at our facility and support the creation of more than 300 local manufacturing jobs over the next five years,” he said.
Mr Higgins added that by expanding collaborations with key players in the industry, such as Hanwha Defense Australia, the company’s goal to compete for contracts in the expanding Australian and international defence manufacturing market would be possible.
Currently, Corvus is working with Hanwha Defense Australia in a bid to manufacture crucial equipment for the Australian Defence Force’s (ADF) next-generation of infantry fighting vehicles (IFVs) under the Government’s LAND 400 Phase 3 IFV project.
Hanwha Defense Australia’s Redback IFV is one of two tenders currently under consideration, along with Rheinmetall’s Lynx.
Corvus says it is also working with Hanwha Defense Australia to obtain other international defence contracts.
“The partnership with Corvus in support of Hanwha Defense Australia in potentially delivering the next generation IFV to the ADF and support for other international campaigns builds on the strong industry links we are developing,” Richard Cho, Hanwha Defense Australia Managing Director said.
