The first round of a $150 million program to attract foreign investment in Australia’s hydrogen exports will focus on growing a supply chain with Japan.
The Australian Clean Hydrogen Trade Program (ACHTP) will support Australian-based hydrogen supply chain projects that secure overseas public or private sector investment.
The first round of the program will focus on the export of clean hydrogen to Japan under the Japan-Australia Partnership on Decarbonisation through Technology.
Prime Minister, Scott Morrison, said the program would help reduce emissions by working with other countries to get the cost of hydrogen technologies down.
“It is critical that we work closely with our international partners such as Japan to deliver on Australia’s low emissions objectives,” Mr Morrison said.
“Clean hydrogen is central to both Australia’s and Japan’s plans to achieve net zero emissions while growing our economies and jobs.”
The ACHTP will support projects to develop export supply chains and commercialise production of clean hydrogen and derivative clean hydrogen-based compounds, such as clean ammonia.
Federal Minister for Industry, Energy and Emissions Reduction, Angus Taylor, said, “Establishing clean hydrogen supply chains will facilitate investment into Australia and will create jobs for Australians, many in our regional areas.
“Australia is a world leader in clean energy and our high quality resources have long been in strong demand from our international partners.”
The program will be funded over five years from the $565.8 million committed for low emissions technology international partnerships in the 2021-22 Budget.