The Australian Renewable Energy Agency (ARENA) has placed $50 million up for grabs for researchers exploring renewable hydrogen and low-emission iron and steel.
The renewable energy government organisation said it would allocate the funds in two rounds: the first targeting lab-based research and the second to fund a commercialisation phase aimed at scaling up and demonstrating research breakthroughs.
Under the funding rounds, applicants will receive between $500,000 and $5 million based on their research and development (R&D) projects.
ARENA said its ‘hydrogen research and development round’ would focus on two key streams — one to improve and optimise the production of renewable hydrogen as well as hydrogen derivatives such as ammonia, and the other to investigate storage and distribution solutions.
Meanwhile, the ‘low emissions iron and steel’ round will offer funding for research that can significantly reduce emissions across the steel value chain in the near and long term.
ARENA Acting CEO Chris Faris said the two rounds would build on Australia’s legacy of research and development and would help scale up renewable energy as well as low-carbon exports.
“Australia has a proud history at the forefront of technological innovation to support our industrial base. ARENA is backing our local research sector with $50 million over two funding rounds,” Mr Faris said.
“Renewable hydrogen and low emissions iron and steel will be critical to Australia’s net-zero economy, and the research and development we’re funding now through these programs will underpin the clean industries of tomorrow.”
As the renewable hydrogen market expands globally, ARENA emphasised that more development was needed to improve the efficiency, storage, and transportation of renewable hydrogen on a larger scale.
Western Australia, in this respect, is poised to become a global leader in the development of renewable hydrogen energy due to its solar, wind, and natural land resources.
The north of the state offers the highest solar irradiance per square kilometre in the world, able to accommodate renewable hydrogen energy generation at scale.
As the world’s largest producer and exporter of iron ore, Australia holds a unique opportunity to reduce emissions from iron and steel production, which account for more than seven per cent of global emissions.
ARENA said technological innovation of renewable resources was vital to the industry achieving its net zero emissions target by 2050, as more global markets will demand low-carbon products.
Expressions of Interest for ARENA’s Hydrogen, Iron and Steel Research and Development Funding Rounds are due by June 1, 2023.