VEEM, a designer and manufacturer of disruptive, high-technology marine propulsion and stabilisation systems for the global luxury motor yacht, fast ferry, commercial workboat and defence industries, announced it has been awarded two grants totalling $2 million under the Federal Government’s Defence Industry Development Grants Program – Sovereign Industry Priorities Stream.
The Defence Industry Development Grants Program – Sovereign Industry Priorities Stream funding of $2 million will be used as follows:
- $1 million to purchase and install a 3D sand printer capable of printing moulds required for the casting of propellers, valves and other critical components for Nuclear-Powered Submarines (NPS), Unmanned Underwater Vehicles and other Naval vessels. The total project is estimated to cost just over $2 million.
- $1 million to purchase and install a multi-axis CNC machine capable of machining valves, propellers and other critical components required for the same vehicles. The total project is estimated to cost just over $2 million.
VEEM is currently at the design stage of extending its current facilities in Western Australia. This new equipment is expected to be installed in the new extension when completed. Completion is expected around 31 December 2025 with commissioning of the equipment during 2HFY26.
In addition to providing capability to the Australian defence industry, VEEM is also working with HII under the Australian Submarine Supplier Qualification (AUSSQ) pilot program to become part of the United States submarine industrial base.
VEEM Managing Director Mark Miocevich said: “We are proud to be part of Australia’s defence industry and very appreciative of receiving the $2 million in grant funding which enables VEEM to increase its capacity and capability for manufacturing propellers and other critical components for Navy and the Nuclear-Powered Submarine program in particular. “VEEM looks forward to the increased opportunities for local manufacture coming out of AUKUS and other naval shipbuilding programs.”
For Editorial Inquiries Contact:
Editor Kym Bergmann at [email protected]
For Advertising Inquiries Contact:
Group Sales Director Simon Hadfield at [email protected]
