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Highlights
- Australia Germany commits to a hydrogen supply chain push.
- ARENA to take the lead as the new joint Hydrogen Innovation and Technology Incubator.
- Australia seeks an energy transition while Germany looks to satisfy energy demand.
Australia and Germany have put together ~AU$130 million to fund a series of hydrogen projects. Australian Renewable Energy Agency (ARENA) is joining hands with Germany’s Federal Ministry of Education and Research (BMBF) to make a hydrogen innovation and clean technology incubator named, HyGATE.
Australia is committing an AU$50 million towards the hydrogen incubator ‘HyGATE’ initiative. The federal government is already investing more than a billion dollars in fast pacing the Australian hydrogen industry. It has committed itself to developing seven clean hydrogen industrial hubs in regional Australia.
The Australian-German joint hydrogen supply chain study is expected to further boost the development of the Australian hydrogen supply chain. It will also help Australia’s hydrogen industry create new jobs and economic opportunities while moving towards the net-zero goal.
Why fund a series of hydrogen projects?
- Hydrogen is a flexible, safe, no carbon emissions fuel, which the world needs amidst its climate crisis.
- In Australia, clean hydrogen development can demand 16,000 jobs by 2050, plus an additional 13,000 jobs from related infrastructure.
- Aussie hydrogen export worthy production and even domestic use can generate over AU$50 billion worth additional GDP by 2050.
- It will be a noteworthy step in Australia’s journey to a clean energy future and its net-zero goal.
- For Germany, the partnership will not only strengthen bi-lateral cooperation but help it meet its growing energy demand.
Bottom line
Australia, with this cooperation, is taking one step ahead in its aim to become a leading global hydrogen supplier by 2030, as highlighted in its national Hydrogen Strategy in 2019.
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