• $1 million grant to purchase 3D sand printer for casting propellers, valves and other components for naval vessels
• $1 million grant to purchase multi-axis CNC machine for machining valves, propellers and other critical components
• Equipment to be installed in new facility extension in Western Australia, expected completion by end of 2025

Veem Ltd, a designer and manufacturer of marine propulsion and stabilization systems, has been awarded a total of $2 million in grants under the Federal Government's Defence Industry Development Grants Program - Sovereign Industry Priorities Stream. One grant for $1 million will be used 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 second grant, also for $1 million, will be used to purchase and install a multi-axis CNC machine capable of machining valves, propellers and other critical components required for the same vessels. The total project cost for each grant is estimated to be just over $2 million, with the grants funding up to 50% of the costs. Veem is currently at the design stage of extending its current facilities in Western Australia, and the new equipment is expected to be installed in the new extension when completed, which is anticipated around 31 December 2025. In addition to providing capability to the Australian defence industry, Veem is also working with Huntington Ingalls Industries (HII) under the Australian Submarine Supplier Qualification (AUSSQ) pilot program to become part of the United States submarine industrial base.

Veem has been awarded $2 million in grants from the Australian government's Defence Industry Development Grants Program to expand its manufacturing capabilities for critical naval components. The equipment is expected to be installed in the second half of the 2026 financial year.