The federal government is expanding Australia’s clean hydrogen export industry via a new initiative involving overseas investment in Australian hydrogen supply chains.
The initiative is the Australian Clean Hydrogen Trade Program (ACHTP) which is worth $150 million.
It will support Australian-based hydrogen supply chain projects. This will involve securing public or private sector investments from overseas.
It will firstly be exporting clean hydrogen to Japan under the Japan-Australia Partnership on Decarbonisation through Technology scheme.
Prime Minister Scott Morrison says the ACHTP will help Australia keep to its commitment to reduce emissions by cooperating with other countries to lower the cost of clean energy technologies.
“It is critical that we work closely with our international partners such as Japan to deliver on Australia’s low emissions objectives,” the PM says.
“Clean hydrogen is central to both Australia’s and Japan’s plans to achieve net zero emissions while growing our economies and jobs.”
The ACHTP will support projects to develop export supply chains as well as allow clean hydrogen and derivative clean hydrogen-based compounds such as ammonia to be commercialised.
Clean hydrogen is a top priority technology for the Coalition. It is outlined in the Government’s Long Term Emissions Reduction Plan and Technology Investment Roadmap.
Angus Taylor, Minister for Industry, Energy and Emissions Reduction says Australia is creating new economic and employment opportunities while achieving the goal of net-zero emissions.
“Establishing clean hydrogen supply chains will facilitate investment into Australia and will create jobs for Australians, many in our regional areas,” Angus says.
He adds the federal government is “providing an innovative and economically viable solution to producing clean hydrogen not only for Australia” but “also for [its] international partners.”
The ACHTP will be funded over five years. These funds will come from the more than $565 million that has been committed towards low emissions technology international partnerships as presented in the 2021-2022 Budget.
Clean hydrogen could provide direct support to 16,000 jobs by 2050. An additional 13,000 jobs could come from the newly-made related renewable energy infrastructure, the government says.
Australia’s hydrogen production for export and domestic use could generate more than $50 billion in additional GDP by 2050.
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