Market Sounding
Submit a project
Submit a project to tell the NSW government about challenges your organisation and projects are facing.
About the Market Sounding process
The NSW Government is running a Market Sounding process to better understand what is needed to unlock future investment that improves fuel security in NSW - this could be policy changes, regulatory reform, or new initiatives to improve fuel security.
The Market Sounding process provides an option for proponents whose projects do not yet meet the IDA’s EOI criteria - such as projects at an earlier stage of development - to still share information about potential projects.
The Market Sounding process is seeking information on potential projects, with a focus on:
- fuel storage and distribution infrastructure
- domestic, import independent liquid fuel production, focused on renewable fuels and their feedstocks such as sustainable aviation fuel, renewable diesel, biodiesel, biomethane and green ammonia
- heavy electric vehicle charging hubs and fleets, to reduce reliance on diesel over time.
For the purposes of this focus area, heavy electric vehicles includes a broad range of commercial and fleet vehicles (excluding personal passenger vehicles), such as rigid trucks, articulated trucks, and other freight or service vehicles.
While these three priority areas are a focus of the Market Sounding, the IDA welcomes information on any projects that could improve fuel security in NSW.
Which pathway is right for you?
Projects submitted through the Market Sounding process will not be considered for IDA support and will not be evaluated as part of the EOI round.
If you are seeking support through the IDA, you must submit an EOI. To learn more about the IDA EOI round and check whether your project is eligible, see here.
How to submit a project
Projects submitted through the Market Sounding process must directly relate to fuel security.
Domestic and international applicants can submit a project through the Market Sounding webform.
The web form asks a small number of questions about the project and how it could improve fuel security. This includes high-level information about the type of project, the size of the investment and potential delivery timeframes.
Applicants can identify key barriers that may affect delivery, as well as any government support (for example coordination, policy and regulatory settings, or infrastructure) that could help progress the project.
What happens after I submit a project?
Information submitted through the Market Sounding process will be analysed to better understand barriers to project delivery in this area and to inform future policy decisions.
The NSW Government may contact you to seek further information about your project.
Support and contact
If you have any questions regarding the Market Sounding process or the IDA, please submit an enquiry.
Frequently asked questions (FAQs)
The EOI round is for projects seeking IDA support and that meet the published criteria (including the $100m EDC threshold).
The Market Sounding is for projects that could improve fuel security in NSW but do not yet meet EOI criteria (e.g., they are earlier stage or require financial support from NSW Government to proceed).
Market Sounding submissions are not evaluated for IDA endorsement - they are analysed to understand barriers and inform future policies to unlock future investment.
You can refer to a high-level comparison of the two processes (PDF 195.55KB).
Yes. You can submit multiple projects, provided each project is submitted separately and meets the relevant requirements for the EOI round or Market Sounding process.
If you are seeking IDA support, you must submit an EOI.
If your project does not meet the EOI criteria, you can submit through Market Sounding instead. Submit an enquiry if you are unsure.
Yes. That’s what the Market Sounding is for - sharing high level project information and barriers, so government can better understand what’s needed to unlock future investment that contributes to fuel security.
No. The Market Sounding process is looking to hear about any projects that could improve fuel security for NSW.
The only criteria the proposed project needs to meet is that it is based in NSW, contributes to NSW’s fuel security, and is aligned with NSW government priorities.
Yes. Projects across the fuel value chain are encouraged to participate, including upstream, midstream and downstream activities.