Turnbull said the two bodies will jointly manage the new A$1bn fund, starting in July, which will focus on investing in high-tech clean energy technologies.

“What that is going to do is every year invest A$100m in the smartest, most cutting-edge Australian clean-energy technologies and businesses to ensure that we..play our part in cracking the very hard problems, the challenging technical difficulties that we face in terms of reducing emissions,” said Turnbull, quoted by Reuters.

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