Funding to support commercial-scale green iron projects across Australia, accelerating decarbonisation, boosting manufacturing, creating jobs, and strengthening industry under the Future Made in Australia initiative.
Current status of program
Opening Soon
Applications are expected to open on 28 October 2025.
To register your interest in seeking our assistance with applying, please contact us here.
On this page you will find
What is the Green Iron Investment Fund – National Development Stream (GIIF-NDS)?
The Green Iron Investment Fund – National Development Stream (GIIF-NDS) is a major initiative under the Australian Government’s Future Made in Australia policy. This competitive grant program provides at least $500 million in funding to accelerate commercial-scale green iron production across the country, helping transform Australia’s iron ore industry by adding more value domestically.
The Fund supports both existing facilities and new (greenfield) projects, with the goal of establishing Australia as a global leader in green iron production.
Green Iron Investment Fund – National Development Stream level of support
- Total Available Funding: $500 million
- Grant Range: A minimum of $500 million is available across the stream (no specific minimum per project stated).
- Funding Coverage: Grants will cover up to 25% of total eligible project expenditure.
Applicants must provide a minimum 75% co-contribution from other sources.
- Government funding cap: No more than 65% of total project costs can come from all levels of government combined (Commonwealth, state, territory or local).
- Private investment: Projects that crowd in private investment will be considered stronger.
- Funding period: 2025–26 to 2030–31.
- Completion deadline: All projects must achieve commercial operations by 31 March 2031.
Green Iron Investment Fund – National Development Stream important dates
- Applications Open: 28 October 2025 10:00am AEDT
- Applications Close: 16 January 2026 5:00pm AEDT
- Assessment Period: 9 weeks
- Project Completion: By 31 March 2031
- Register your interest with GrantHelper
Green Iron Investment Fund – National Development Stream objectives
The Green Iron Investment Fund aims to:
- De-risk early mover investments in commercial-scale green iron production capability.
- Attract private investment to develop a globally competitive green iron industry.
- Create jobs and regional economic benefits, including local supply chain development.
- Deliver community benefits in line with the Future Made in Australia Community Benefit Principles (CBPs).
- Reduce emissions across the steel value chain, contributing to national and global decarbonisation goals.
Projects and expenditure eligible for Green Iron Investment Fund – National Development Stream support
Eligible Projects
Projects must:
- Establish a commercial-scale green iron facility (minimum capacity of 1 million tonnes per annum).
- Use technology that is TRL 7 or higher (preferably TRL 8–9).
- Be capital works–focused and directly support green iron production.
- Achieve commercial operations by March 2031.
Eligible Activities
- Construction, installation or commissioning of plant and equipment.
- Site development or redevelopment (excluding remediation).
- Design and engineering for capital works.
- Commercialisation or implementation of low-emission technology.
- Negotiation of offtake agreements or investment arrangements.
- Workforce training and skill development aligned with community benefit principles.
- Modifying existing industrial assets for green production.
- Knowledge sharing to support second movers and wider industry growth.
Ineligible Expenditure
Funding cannot be used for:
- Mining operations or extraction of fossil fuels.
- Activities or infrastructure related to coal, crude oil, or natural gas extraction.
- In-kind contributions, travel, rent, or administrative overheads.
- Land purchase, routine operating expenses, or office equipment.
- Research unrelated to project delivery.
- Application preparation costs or legal/insurance fees.
- Any expenditure incurred before signing the grant agreement.
Other Green Iron Investment Fund – National Development Stream important details that you will need to know
Organisations eligible for Green Iron Investment Fund – National Development Stream support
Applicants must:
- Have an ABN and be registered for GST.
- Be one of the following:
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- An entity incorporated in Australia.
- A company limited by guarantee.
- An incorporated trustee on behalf of a trust (with trading as a significant activity).
Joint (Consortia) Applications
Consortia are eligible, provided:
- The lead organisation meets eligibility criteria.
- The lead organisation enters into the funding agreement and manages delivery.
- Partners provide letters of support and define roles and resources.
Not Eligible
- Individuals, unincorporated associations, or trusts (without an incorporated trustee).
- Government entities, Regional Development Australia Committees, or income tax–exempt organisations.
- Employers not compliant with the Workplace Gender Equality Act 2012.
- Organisations listed on the National Redress Scheme’s non-participation list.
See the guidelines for full details of organisational requirements.
Green Iron Investment Fund – National Development Stream assessment criteria
Applications will be reviewed by two panels:
- Technical Assessment Panel – assesses Criterion 1.
- Commercial Viability Assessment Panel – assesses Criteria 2–5.
Applicants must achieve at least 50% in each criterion to remain eligible for funding consideration.
Criterion 1 – Technological Capability & Decarbonisation (20 points)
Applicants must demonstrate:
- How the project will deliver commercial-scale green iron by 2031.
- The technology readiness (TRL 7–9) and development pathway to commercialisation.
- How the project will reduce emissions in the steel value chain using renewable hydrogen, renewable energy, or gas transitioning to renewables.
Supporting evidence: decarbonisation plan, business case, and technology plan.
Criterion 2 – Alignment with Program Objectives & Benefits (25 points)
Applicants must describe:
- How the project contributes to program objectives and the Future Made in Australia priorities.
- Knowledge spillovers and industry benefits, including supply chain strengthening.
- Community benefits under the CBPs, supported by a Community Benefits Sharing Plan.
Criterion 3 – Commercial & Financial Viability (25 points)
Applicants must show:
- A clear understanding of capital and operating costs.
- Ability to secure debt and equity investment within 18 months of contract signing.
- Market demand evidence and sustainable revenue models.
- Robust financial governance frameworks and long-term financial sustainability.
Supporting evidence: financial investment plan, commercialisation plan, and audited financials.
Criterion 4 – Capacity, Capability & Resources (20 points)
Applicants must demonstrate:
- Track record in delivering large-scale industrial or resources projects.
- Governance and project management capability.
- Project readiness — progress on feasibility, design, approvals, and Final Investment Decision (FID).
- Access to infrastructure, IP, and specialist expertise.
Supporting evidence: governance plan, risk management plan, and business plan.
Criterion 5 – Impact of the Grant (10 points)
Applicants must explain:
- How the grant will affect project scale and timing.
- Whether the project could proceed without the grant.
- How the funding will leverage additional investment and accelerate delivery.
Only applications achieving at least 50% (10 out of 20 points) in Criterion 1 will progress to full assessment.
How do I get the Green Iron Investment Fund – National Development Stream?
Applicants must:
- Read and understand the guidelines.
- Ensure eligibility for the funding. Applicants that do not meet all the eligibility criteria will not be considered.
- Deliver the project/s as outlined in the application.
- Provide complete information requirements.
Applicants should be ready to demonstrate:
- Proven access to non-government co-funding sources.
- A robust business case and financial model.
- A technology plan showing readiness level (TRL 7–9).
- A detailed decarbonisation plan supporting emissions reduction goals.
- A Community Benefits Sharing Plan aligned with FMA principles.
- Demonstrated project readiness and governance capability.
- Clear evidence of market demand and partnerships (e.g. offtake or investment agreements).
- Comprehensive risk management, including national security and IP protection measures.
Information to prepare for the Green Iron Investment Fund – National Development Stream application
Applicants must provide the following attachments (max total size: 50MB):
- Business case (including FEED, feasibility, and community engagement strategy).
- Financial investment plan (with full cost breakdowns and funding sources).
- Decarbonisation plan.
- Technology plan.
- Risk management and governance plans.
- Commercialisation plan.
- Community Benefits Sharing Plan.
- Knowledge Sharing Plan.
- Register of key personnel.
- Letters of support from project partners (if applicable).
- Trust deed (if applicable).
See the guidelines for full details of information requirements.
Applying for the Green Iron Investment Fund – National Development Stream
All applications must be submitted via business.gov.au/giif-nds.
Register your interest with GrantHelper to explore your alignment with this grant and how we can assist you to increase your chances of success.
Green Iron Investment Fund – National Development Stream resources
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