- PWR Advanced Cooling Technologies to relocate premises and undertake a $21.9 million facility expansion in Stapylton
- Increased capacity will create up to 488 new jobs
- Revolutionary advanced cooling technology to benefit motorsport, defence and aerospace sectors
A Queensland company that supplies cooling technology for V8 Supercars, Formula 1 and NASCAR is expanding its operations and creating another 488 jobs with an investment from Queensland Treasury.
Gold Coast company PWR Advanced Cooling Technologies will invest $21.9 million in facility upgrades and new equipment over three years to increase production capacity by 114 per cent.
Up to $8.78 million in support will be provided by the Queensland Treasury’s Invested in Queensland program.
The new facility, expected to ready in 2025, will also see PWR add up to 488 new jobs over the next 10 years that will more than double its current Australian workforce of 340 staff.
Additionally, the 18-month construction phase will support about 75 jobs.
PWR has already been a motor sport success story and is seeing rapid growth in defence and aerospace industries.
The company has revolutionised the cooling technology within its many products.
PWR’s customers include high-end automotive brands Aston Martin, McLaren and Koenigsegg, and is a key supplier to automotive racing teams in V8 Supercars, Formula 1 and NASCAR.
Quotes attributable to the Treasurer and Minister for Trade and Investment Cameron Dick:
“PWR Advanced Cooling Technologies is already a Queensland success story, and support from our Invested in Queensland program is helping to keep their home-grown ingenuity on the Gold Coast.
“With our support, PWR will expand into a larger, purpose-built facility giving them the room to grow even more.
“The new facility is expected to support new innovation and technology that will enable PWR to remain at the cutting edge of cooling technologies and grow their exports and take advantage of emerging markets.
“This is another great example of how we’re partnering with the private sector and encouraging them to invest in expansions that will support the growing Queensland’s economy well into the future.”
Quotes attributable to PWR Managing Director Kees Weel:
“It has been an extraordinary journey and PWR’s reputation is now cemented globally for quality and innovation for advanced cooling solutions.
“We are proud of all our achievements and proud of every single one of our team members.
“While we have operations in the US and Europe, PWR is head quartered in Queensland and is a Queensland success story.
“We are excited to be building an advanced manufacturing facility that will accelerate our growth into aerospace, defence and the renewable energy sectors from right here on the Gold Coast.
“The Invested in Queensland program has provided real incentive to re-invest in Queensland and provide hundreds of new local jobs as a result.”
