LASERBOND says it has been awarded a $500,000 grant under the Federal “Retooling for Climate Change” programme.

According to LaserBond, the grant will allow it to augment the development and commercialisation of its laser cladding technology, helping to reduce energy usage and green house gas emissions.

The LaserBond technology is said to increase the life of existing components, reducing wastage due to scrapping and replacement, and helping cut energy usage in fabrication and manufacturing operations.

The company reclaims, refurbishes, manufacturers and optimises the performance of critical components in various industries, including the capacity intensive sectors of mining and resources.

LaserBond says the manufacture of a machine component from a tonne of steel will typically consume more than 30GJ of energy. The company’s technologies are said to reclaim the same part with less than 1GJ of energy consumed.

LaserBond says the grant will also help it install new equipment to reduce its own energy usage and overall cost base.