Join our daily newsletter At The Bell to receive exclusive market insights
- The Federal Government, Australia’s national science agency and industry partners have committed $68 million to support the nation’s developing hydrogen industry
- The Commonwealth Scientific and Industrial Research Organisation (CSIRO) launched what it is calling the Hydrogen Industry Mission today
- The program is designed to drive down hydrogen production costs to less than $2 per kilogram and to slash Australia’s future carbon emissions
- It’s all part of the government’s Technology Investment Roadmap, which is designed to build up lower-cost, lower-emission energy technology
- The hydrogen industry is expected to create more than 8000 new jobs and generate $11 billion a year in GDP by 2050
- This latest investment comes on top of the $275.5 million announced as part of the 2022 Federal Budget to support the development of regional hydrogen hubs
The Federal Government, Australia’s national science agency and industry partners have committed $68 million to support the nation’s developing hydrogen industry.
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) launched its new Hydrogen Industry Mission today as a way to support key projects across the hydrogen sector and boost research collaborations.
CSIRO, the government and other industry partners have committed to invest $68 million as they work to drive down hydrogen production costs and slash Australia’s future carbon emissions.
This latest investment comes on top of the $275.5 million announced as part of the 2022 Federal Budget to support the development of regional hydrogen hubs. All up, the government has now committed over $900 million to the Australian hydrogen industry.
It is part of the government’s Technology Investment Roadmap, which is designed to help the country build up lower-cost, lower-emission energy technology.
Hydrogen is a key part of this plan, with the government’s tech roadmap and CSIRO’s mission aiming to lower the cost of hydrogen production to less than $2 per kilogram.
Announcing the extra support Minister for Energy and Emissions Reduction Angus Taylor said: “Australia can be a world leader in hydrogen and this partnership with the business and research communities is another positive step towards growing a clean and competitive hydrogen industry in Australia.
“Hydrogen offers enormous energy and economic benefits, and has the potential to create more than 8000 new jobs and generate $11 billion a year in GDP by 2050.”
CSIRO said its Hydrogen Industry Mission could result in avoided greenhouse gas emissions equivalent to a third of Australia’s current fossil fuel emissions by 2050.
CSIRO’s goals
On top of reducing carbon emissions, CSIRO said it aims to promote new domestic and export industries and diversify Australia’s energy system.
The organisation today outlined three key milestones for the first five years of the hydrogen mission.
Over the first year of work, CSIRO plans to establish a Hydrogen Knowledge Centre with industry, government and research community partners.
By the end of the third year of work, CSIRO and its partners plan to showcase a hydrogen tech demonstration facility. This will include a hydrogen refueller on a CSIRO site to exhibit the latest hydrogen production tech.
Finally, by the end of the fifth year, CSIRO plans to have developed a remote area power system to support regional energy transition. The organisation also plans to deploy its hydrogen production tech commercially by this point in time.
Minister for Industry, Science and Technology Christian Porter said the CSIRO’s mission was designed to address major societal challenges in key areas.
“The CSIRO Missions Program is about improving the productivity, competitiveness and sustainability of our established and emerging industries by fostering collaboration with the research sector to drive innovation,” he said.
“CSIRO has an exemplary track record of fostering cutting-edge collaborations between government, universities, industry and the community.
“The Hydrogen Industry Mission is the latest ambitious effort that will see technology help to lower emissions by expanding our clean energy options.”
Of the $68 million in funding for the program, $38 million will come from the CSIRO, $18 million from industry partners and $12 million from the Federal Government.
