Press Release – Austvolt Receives $3 Million Investment from the Western Australia Government’s Investment Attraction Fund

June 21, 2023

Press Release

Austvolt, a leading player in the development and production of key manufacturer of precursor cathode active material (pCAM), is thrilled to announce that it has been awarded a significant investment of $3 million as part of the Western Australia Government’s Investment Attraction Fund (IAF).

The Investment Attraction Fund, a crucial component of WA Government’s economic diversification strategy, aims to promote job creation and economic growth in Western Australia (WA). With a total investment of $148.4 million distributed among 40 projects throughout the state, the IAF is geared towards fostering a more resilient and diverse economy while aligning with the WA Government’s economic diversification framework, Diversify WA.

Austvolt stood out among 200 businesses vying for funding through the IAF and has been selected as one of the key beneficiaries. This funding presents a significant opportunity for the company to further invest in its workforce, facilities, and operations, contributing to Western Australia’s ambition of becoming a global leader in the manufacture of pCAM.

Peeyush Mathur, the Managing Director & Founder of Austvolt, expressed his excitement about being a part of this esteemed initiative, stating, “We are delighted to be selected from a pool of 200 businesses throughout WA. The funding will enable us to continue investing in the development of our team and facility in Western Australia.”

Premier Roger Cook reaffirmed the government’s commitment to ensuring the state’s economic prosperity and sustainable development. “Through the Investment Attraction Fund, we’re driving a strong and diversified economy that delivers secure, quality jobs for the future” Premier Cook emphasised. “We’re building on WA’s economic strengths, and embracing new and innovative industries – positioning our State at the forefront of the global energy transition.”

To explore more about the Investment Attraction Fund and discover the full list of recipients, please visit:

For media inquiries, please contact:

Hugh Reynolds

Non-Executive Director