Australian fund allocates an incredible $370 million to become a global leader in the hydrogen production and distribution market

In Australia, a $370 million fund aimed at aiding in the development of new hydrogen projects has gained state and federal support following the release of the National Hydrogen Strategy in Perth, which sets a path for Australia to become a major global player in the hydrogen industry by 2030 through the removal of market barriers, ensuring regulatory consistency, and building international trade partnerships. The strategy consisting of $300 million from the Clean Energy Finance Corporation and $70 million from the Australian Renewable Energy Agency will encourage the creation of ‘hydrogen hubs.’ This strategy and funding package takes the Australian Government’s commitment to the hydrogen industry to over $500 million since 2015. 

Category: Policy