Aussie-German fundings to boost hydrogen industry

Image Source: © Prostockstudio | Megapixl.com

Highlights

  • Morrison Government boosts Australia’s position as a global leader in hydrogen via HyGATE.
  • HyGate is a hydrogen innovation and technology incubator initiated by the Australian and German governments. 
  • HyGate is one of the three major initiatives developed as a part of the Aussie-German hydrogen accord. 

As various countries target net-zero emissions by 2050, the global interest in hydrogen has substantially increased. As a result, the Australian and German governments have announced to offer funding to accelerate the hydrogen startups. 

The Australian Federal Government has continued to boost Australia’s global leadership in hydrogen by opening the Aussie-German Hydrogen Innovation and Technology Incubator - HyGATE. 

HyGate is one of the three major initiatives developed as a part of the Aussie-German hydrogen accord, signed in June 2021. 

Via the Australian Renewable Energy Agency, the Australian Federal Government has announced a funding commitment of AU$50 million for new renewable hydrogen supply chain projects last year. At the same time, Germany also has committed to an additional EUR$50 million. 

Related read -  Two ASX green penny stocks with over 10% past-month gains

Now, both governments aim to allocate the funding via the new initiative – HyGate, by inviting applications from projects across the value chain of renewable green hydrogen.

With the new HyGate initiative, the country supports real-world pilot, trial, and demonstration projects. 

This initiative is anticipated to bring together the Australian and German industry and research partners to deliver innovative hydrogen technology projects.

Image source –  © Anjelaalikina | Megapixl.com

Minister for Industry Energy and Emissions Reduction Angus Taylor said that the HyGATE initiative would help to lower the cost of hydrogen via international collaboration. 

Moreover, this initiative will further bring together Australia and Germany’s skilled workforce and advanced technology on innovative hydrogen projects, Taylor said. 

Watch more - How Can California’s Auto Sector Reduce The Carbon Footprint?

Bottomline

While the Accord strengthens Australia’s position as a significant hydrogen exporter, it also boosts Germany’s expertise in hydrogen technology. The eligible Australian organisations can apply for the funding.


 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use on