- Japan’s green innovation fund will allocate the money towards a Latrobe Valley project that will use carbon capture and storage to convert coal into clean hydrogen.
According to The Australian Financial Review article published on March 7, 2023, Japan will allocate $2.35 billion toward a project that will use carbon capture and storage to convert Australia’s dirtiest coal into clean hydrogen for export to Japan.
Japan’s green innovation fund will allocate the money towards a Latrobe Valley project that will use carbon capture and storage to convert coal into clean hydrogen.
“Focus on some key projects with some much more deep funding to accelerate their pathways to successfully complete and go to the commercial,” she toldThe HESC project has in the past six years received $100 million of funding from the Victorian and federal governments to establish pilot facilities, and while the Japanese government funding will be delivered incrementally as the project passes defined milestones, Ms Fukuma said the Japanese government had set a new benchmark for taxpayer support.
