Melbourne: Australia and Germany plan to spend around $ 90 million to fund hydrogen projects as part of a shared encouragement to accelerate the development of clean fuel to help cut carbon emissions, the Australian government said on Tuesday.
Germany has conducted 50 million euros ($ 56 million) and Australia $ 50 million ($ 36 million) towards the alliance, first announced in June.
“Recently released from the first report of Hysupply, the Australia-German hydrogen supply chain study with us, found there is great potential for Australian hydrogen to supply increasing demand in Germany,” said Energy Minister Angus Taylor said in a statement.
Both parties will begin to accept offers for funding from hydrogen innovations and combined incubators, called Hygates, in the first quarter of 2022.
“Able to take advantage of German expertise in hydrogen technology will help the domestic industry add value and reduce the cost of all stages of hydrogen supply chain,” said Minister of Industry Tim Wilson in a statement.
The Australian conservative government bet on hydrogen to help the country meets the target of net zero emissions in 2050 because it looks weaning coal and gas.