NATIONAL HYDROGEN STRATEGY FUNDING TO BRING INDUSTRY AND JOBS TO PETRIE

Australia will become a world leader in hydrogen production and exports thanks to a new fund set up by the Federal Government.

Luke Howarth MP, Federal Member for Petrie, said following the release of the National Hydrogen Strategy, the Australian Government launched a funding package focused on growing an innovative, safe and competitive hydrogen industry in Australia.

“Australia has the potential to develop a thriving hydrogen market over the coming decades, similar to the scale of Australia’s LNG industry,” said Mr Howarth.

“The development of our hydrogen resources could create new jobs for Australians, especially in regional areas, and an export industry valued in the billions.

“By growing a strong domestic hydrogen industry, we will be able to see the practical benefits of hydrogen here at home with cheaper power bills, improved system reliability and emissions reduction.

“Residents in Petrie would certainly benefit from hydrogen facilities being built and operated in the electorate with the creation of jobs so I hope investment opportunities from both government and the private sector come as a result of this fund.”

The Australian Government will reserve $370 million from existing Clean Energy Finance Corporation (CEFC) and Australian Renewable Energy Agency (ARENA) funding to back new hydrogen projects.

This package takes the Federal Government’s commitments to the hydrogen industry to over $500 million since 2015 and is part of a plan to deliver a fairer, more affordable and reliable energy system and a stronger economy for all Australians.

The Energy Policy Blueprint here www.energy.gov.au/energy-policy-blueprint-fair-deal-energy.