The assistance has come as a result of a funding program called Commercialising Emerging Technologies (COMET), which was announced by Federal Innovation Minister Senator Kim Carr. Under the program, the federal government said it would provide $2.1 million in grants to 33 innovations. The new insulation batt is made from recycled newspaper and other materials by Envirobatt, of Esperance in Western Australia. Other innovative, construction-focused companies to receive COMET funding include: South Australian company LWP International, which has designed an emergency exit system using high-performance compounds that are 20 times brighter than similar compounds and continue to provide visual guidance for many hours; and Global Tough Alloys, also of SA, which has developed tough, high-chromium white iron alloy formulations it claims are tougher and more wear resistant than alloys currently on the market. Carr said a COMET business adviser would assist the companies to use their grants for a strategic business plan, market research, an intellectual property strategy and working prototype to bring their products to market.
