The Australian government has announced it will allocate around $540 million (US$420 million) towards hydrogen and carbon capture projects.
As part of the budget for the next fiscal year, the investment will see the development of clean energy technologies that reduce carbon emissions. It is estimated to create around 2,500 jobs for Australia.
“It is essential we position Australia to succeed by investing now in the technologies that will support our industries into the future, with lower emissions energy that can support Australian jobs,” Australian Prime Minister Scott Morrison said.
Minister for Energy and Emissions Reduction Angus Taylor said that hubs for both hydrogen and carbon capture projects are crucial for the prosperity of the clean technology industry.
“I want Australia and hydrogen technology to be synonymous around the world,” Morrison said.
“And it’s a key point I’ll be making at the Climate Summit over the next few days, that Australia is really putting the flag right out there when it comes to ensuring that we lead the world in hydrogen technology.”
Australia has recently begun two hydrogen export projects, one in Victoria and another in Queensland, both part of hydrogen supply chain projects with Japan.
“This is really exciting technology, we are seeing investment like there’s no tomorrow in an organisation like this,” Morrison said.
The patented Hydrogen Energy Release Optimiser (HERO) technology utilises hydrogen and oxygen gas in the presence of a catalyst—a component not used up in the reaction—to produce vast quantities of heat.
The HERO technology can be used in a number of applications, most notably by replacing coal-fired boilers in existing power plants to allow for the continued use of the station while producing no emissions.
A further $264 million (US$204 million) will go to supporting the development of carbon capture and storage (CCS); and carbon capture, use, and storage (CCUS) projects.
Both CCS and CCUS involve the capture of carbon dioxide, with the distinction being that carbon dioxide is buried underground in CCS, or used as a raw material in CCUS.
“We have the biggest project in the world right here in Australia, 60 projects going across the world but we are a world leader,” Taylor said, referring to Chevron’s Gorgon Project in Western Australia.