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To be a major new industry for Western Australia, renewable hydrogen has the potential according to the newly formed Renewable Hydrogen Council. Comprising members of research bodies like that of ARENA and the CSIRO, government, and representatives from industry such as Woodside, Engie, and ATCO Gas.
It could refuel two fuel cell vehicles as demonstrated by the CSIRO recently, and for the development of the hydrogen industry in Australia, has also released what is essentially a blueprint. The cost of hydrogen supply and lack of supporting infrastructure can be overcome, âvia a series of strategic investments along the value chain from both the public and private sectorâ which as of now are barriers to industry incline.
One of the few ASX-listed players experimenting in hydrogen is Perth-based Hazer Group (ASX:HZR). For producing hydrogen and graphite from natural gas and iron ore, the company has a developed a technology. Using its own technology, one of the goals of Hazer, is to be the first into the Australian market to supply hydrogen.Â
Dr. ACornejo said, Areas such as the production of ammonia and petrochemical refining Hydrogen in Australia is generally produced by industries for use within their own developments. The industry is forecast to grow to $US2.5 trillion by 2050, and the global market is said to be worth $US130 billion and $177.6 billion, according to a recent Morgan Stanley report. Hydrogen can be stored for future energy generation or export and can be burned, used to create electricity.
Minister MacTiernan said, âTo provide the clean energy which the world will need, Western Australia has enormous potential, as the world moves to a lower carbon future, but the order is to move quickly and strategicallyâ.
Hazer group is into commercializing the co-production of a high purity graphite and the production of hydrogen gas from methane with negligible carbon dioxide emissions. The Hazer group is trading at a market price of $0.370 under the materials sector and has witnessed a performance change of 29.09% over the past 6 months.
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