Coles Group, a major Australian supermarket chain, has announced the Coles Nurture Fund to support Australian producers and manufacturers. The proceeds will help them develop new products and technologies and use more environmentally friendly methods.
The Coles Nurture Fund is currently accepting applications from small and medium-sized companies. Eligible companies must have fewer than 50 full-time employees, less than $25 million in annual revenue, and innovative ideas. The fund will provide up to $500,000 in grants to select businesses.
Coles Group’s General Manager of Corporate and Indigenous Affairs, Sally Fielke, stated that the fund assisted Australian producers in bringing their ideas to life.
“Since 2015, the Coles Nurture Fund has committed more than $30 million in financial support to more than 90 Australian producers, helping them transform their infrastructure, reduce waste, become more energy efficient, and install new equipment to support greater volumes of fresh produce,” Sally said.
“This year, we want to make it possible for more businesses to invest in projects that spur innovation and make their farms and facilities more environmentally friendly.”
The Coles Nurture Fund has already provided funding for a vacuum truck to collect manure to be converted into renewable energy, Australia’s first quinoa processing plant, and a high-tech indoor grass-growing factory.
Tony Mahar, the chief executive officer of the National Farmers Federation, cited innovation and sustainability as two key pillars of the agricultural industry’s future success.
“Australia’s farm sector has such exciting opportunities ahead as we pursue our ambition to become Australia’s next $100 billion industry,” Tony said.
“We know that innovation and sustainability are critical to the future of Australian farming, and it’s great to see this investment helping farmers innovate and grow their businesses.”
Endhill is an Australian beef producer located in Victoria. In 2018, the Coles Nurture Fund donated $400,000 to Endhill. With the grant, Endhill was able to buy new equipment to harvest lucerne and turn it into pellets for feeding cattle. The new technology made it easier for the company to supplement grass for their cattle because it made it easier to store and use feed.
Endhill’s General Manager, Dane Martin, encouraged other producers to apply for funding from the Coles Nurture Fund, saying, “Without the Coles Nurture Fund, we probably wouldn’t have been able to get this project off the ground. I certainly would encourage other producers to apply for Coles Nurture if they have an innovative idea or a plan to become a more sustainable business.”