Australian Hydrogen Council applauds $1.9 billion new energy technologies government investmentSeptember 21, 2020
The country has announced an investment package into emerging green power tech.
The Australian federal government recently announced a $1.9 billion investment package for emerging and new energy technologies, welcomed by the Australian Hydrogen Council.
The investment is expected to solidify the future of the Australian Renewable Energy Agency.
The funding for new energy technologies is seen as the investment needed to secure the Australian Renewable Energy Agency’s (ARENA) future. It is also expected to place the spotlight on ARENA and the Clean Energy Finance Corporation (CEFC) to support new tech that will slash manufacturing, industry, agriculture, and transportation emissions.
The Australian Hydrogen Council sees this funding as the opportunity to accelerate H2 development in the country’s future energy mix by assisting both businesses and regional communities. It will help them in using H2, electric, and biofuel powered vehicles and the opportunities they have to offer. This assistance will arrive through the new Future Fuels Fund of $74.5 million. Beyond that, it will also support the future of H2 by establishing an export hub for the renewable fuel. That will be worth an estimated $70.2 million and will provide the potential to scale-up demand while enjoying the benefits of this high-powered but low-emission energy source.
The Australian Hydrogen Council welcomed the government’s new energy technologies investment.
“On behalf of the Australian Hydrogen Council, I welcome the new funding announcement which further demonstrates the Australian Government’s commitment to new and emerging technologies including hydrogen,” said Dr. Fiona Simon, Australian Hydrogen Council CEO in a statement.
She underscored the importance of this funding to the longevity of ARENA, which plays a vital role in the hydrogen fuel sector. “It is great to see the Government providing ARENA a guaranteed baseline funding of $1.43 billion over 10 years in addition to $193.4 million to deploy targeted programs,” added Simon.
According to Simon, the council views this new energy technologies as “a leap in the right direction for the hydrogen industry.” The council is a leading representative body for the H2 industry in the country. Its members include dozens of the largest players in hydrogen fuel.