The 2024–25 State Budget will include $4 million to investigate the potential of the natural hydrogen industry in the state.
In the announcement, the Queensland Government said that together with green hydrogen, an additional hydrogen industry would help Queensland on its path to net zero.
Queensland Minister for Resources and Critical Minerals, Scott Stewart, said that the $4 million budget investment was about positioning Queensland to take advantage of new industries and technologies as the world begins to decarbonise.
The extraction of naturally occurring hydrogen is an emerging industry in Australia and internationally and is expected to be a crucial part of the energy mix as Queensland moves to reach a renewable energy target of 70 per cent by 2032.
The study is part of a $90 million Budget commitment to support Queensland’s resources and natural resources sectors.
Mr Stewart said, “Queensland has always been known for its innovation and willingness to tackle new frontiers.
“We’re well placed to develop a green hydrogen industry because of the abundance of sunshine and favourable winds, needed here in Queensland to generate the clean electricity to power the electrolysis process.
“Natural hydrogen extraction is an emerging industry and it makes sense to investigate whether it can be a viable option for us here in Queensland.
“We will work with leading researchers and organisations across Australia as part of this study and I’m looking forward to reviewing the results.”
Mackay MP, Julieanne Gilbert, said, “This budget will have a huge positive impact for people in Mackay by helping relieve the cost-of-living pressures by delivering cheaper power, cheaper transport and cheaper ways to buy their first home.
“The only way we can give people a discount on their power bills is because we own our power assets.
“By continuing to invest and diversify into new emerging industries we are creating more jobs as well.
“This investment into clean hydrogen is part of this government’s commitment to a better Queensland future.”
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