‘The government clearly recognises that we can’t take the foot off the accelerator’, Australian Hydrogen Council CEO Dr. Fiona Simon said as she welcomed the federal government’s 300 million dollar Advancing Hydrogen Fund.
The fund will finance projects focused on growing a clean, innovative and competitive hydrogen industry in Australia. It is the government’s first financing fund that is dedicated to hydrogen projects.
Large scale production
The Advancing Hydrogen Fund uses Clean Energy Finance Corporation funds announced in November last year and will sit alongside with Arena’s current 70 million dollar hydrogen funding round. This guaranteed allocation to Australian hydrogen projects could be used to develop large scale hydrogen production, domestic supply chains, hydrogen hubs or innovative transport or fuel uses.
‘The government clearly recognises that we can’t take the foot off the accelerator – this pandemic is temporary, but our need for energy is permanent and growing’, Simon said in a statement. ‘We must improve community and industry energy efficiency by harnessing the power of hydrogen. Researchers and innovative business across the country are working flat out to deliver hydrogen applications and large scale supply.’