ASI supported 120 projects with a total leveraged value of $450 million from an initial investment of $150 million. This funding was awarded through three competitive rounds. The first funding round sought to improve the cost effectiveness of both PV and CSP technologies. The second round invested in pre-commercial PV and CSP technologies. The third round focused on CSP technologies. In addition to these rounds, three funding rounds were conducted to assist Australian researchers collaborate with their US counterparts. A similar round was also run to facilitate collaboration between Australian and German researchers. ASI also established the Strategic Research Initiatives (SRI) which was designed to support solar PV and CSP technologies which were not yet commercially viable. In conjunction with ARENA, the Australia-US Institute for Advanced Photovoltaics and the Australian Solar Thermal Research Initiative were also funded.