The Victorian Advanced Resource Recovery Initiative will explore new waste recovery technologies to process Melbourne's waste into clean energy and products such as composite.
"This will help insure Melbourne meets its target of recovering 65 per cent of the municipal waste by 2014," Climate Change Minister Gavin Jennings said.
"We want to cut the amount of organic waste going to landfill, cut greenhouse emissions from landfill methane and create new products for sale.
"Sending variable resources, such as food and organic waste, to landfill is a lost opportunity for the environment and the economy. In landfill, wastes decompose and produce methane, a greenhouse gas 21 times more potent than carbon dioxide."
The strategy, launched by Victorian Premier John Brumby on Monday, also includes $185 million for innovations business and research, $70 million for bio-technology and $35 million to expand broadband services across Victoria.
Source: AAP NewsWire