The Victorian Government has welcomed a A$58 million deal between Deakin University and US company, LeMond Composites to license world-first technology developed by Deakin's Carbon Nexus research centre.

The partnership, signed on 21 June 2017 by Deakin Vice-Chancellor, Professor Jane den Hollander AO, and three time Tour de France champion and founder of US company LeMond Composites, Greg LeMond will be a "game-changer for the future of manufacturing" said den Hollander, and "could revolutionise the advanced manufacturing sector locally, across Australia, and around the globe."

LeMond Composites will harness the innovation and expertise of a collaboration between Geelong PhD student Maxine Maghe and General Manager of Carbon Nexus, Steve Atkiss who have revolutionised carbon manufacturing by reducing energy expenditure up to 75 per cent, making the process faster and cheaper to use.

LeMond Composites is also considering the development of a carbon fibre manufacturing plant in Geelong, with an investment of more than A$30 million in construction and equipment, which in turn will  create dozens of jobs. Investment over the last decade between government, industry and Deakin University has "created a map for manufacturing of the future," said de Hollander. 

The award-winning Carbon Nexus centre was established in 2014 as a globally-unique, cutting-edge research facility to conduct basic and industrial-scale research into carbon fibre production methods and composite manufacturing techniques.

"Victoria is quickly becoming the hub for advanced manufacturing" said Minister for Industry and Employment Wade Noonan, and recent developments in carbon fibre will help "inform the government's Advanced Manufacturing Statement," outlining the future of this important sector that contributes around A$26 billion to the Victorian economy each year, and employs more than 270,000 people.