Australian Hydrogen Council welcomes Federal Government’s $1.9b investment in new energy technologies

September 17, 2020

Australian Hydrogen Council welcomes Federal Government’s $1.9b investment in new energy technologies

MEDIA STATEMENT

17 September 2020

Australian Hydrogen Council welcomes Federal Government’s $1.9b investment in new energy technologies

The Australian Hydrogen Council has today welcomed the Federal Government’s announcement of a $1.9 billion investment package in new and emerging energy technologies.

The package secures the future of the Australian Renewable Energy Agency with an extra $1.62 billion to invest, as well as expands the focus of ARENA and the Clean Energy Finance Corporation (CEFC) to back new technologies that will cut emissions in agriculture, manufacturing, industry and transport.

It will also accelerate the development of hydrogen in Australia’s future energy mix by:

  • Helping businesses and regional communities take advantage of opportunities offered by hydrogen, electric, and bio-fuelled vehicles with a new $74.5 million Future Fuels Fund; and
  • Setting up a hydrogen export hub worth $70.2 million to scale-up demand and take advantage of the advancements in this low emissions, high powered source of energy.

Australian Hydrogen Council CEO Dr Fiona Simon made the following statements:

“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.

“The Australian Hydrogen Council has advocated for the expansion of funding and longevity of the Australian Renewable Energy Agency (ARENA), which is critical for the hydrogen 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.

“The Federal Government’s continued investment in hydrogen, which now includes hydrogen fuel cell vehicles being eligible under the new $74.5 million Future Fuels Fund and setting up a hydrogen export hub worth $70.2 million, demonstrates the important role hydrogen will play in Australia’s future energy mix.

“The hydrogen export hub will help promote Australia as a world leader in hydrogen production and exports, as is the recognition of hydrogen in the Future Fuels Fund.

“This investment is a leap in the right direction for the hydrogen industry.”