On Tuesday, the Australian government announced that along with Germany, the country is committed to allocating funds for hydrogen projects as a part of the joint push to accelerate the development of clean fuel to help cut carbon emissions.
The alliance was first announced in June and the joint Australian-German hydrogen supply chain study HySupply found a great potential for Australian hydrogen to meet the growing demand in Germany.
Together, the two countries plan to spend USD90 million to fund the projects with Germany committing EUR50 million (USD56 million) and Australia AUD50 million (USD36 million).
In the first quarter of 2022, the two countries will start accepting bids for funding from the joint Hydrogen Innovation and Technology Incubator, called HyGate.
For Australia, this cooperation with Germany would provide support for its domestic industry to add value and cut costs in all stages of the hydrogen supply chain. The country relies on hydrogen to push the fulfillment of its net-zero emissions target by 2050 as it looks to shift away from coal and gas.
