The Albanese Government is investing in green hydrogen and low-emissions steel with $50 million in research and development (R&D) funding to help progress these critical new technologies, and further seize opportunities for Australia to become a renewable energy superpower.
The Australian Renewable Energy Agency (ARENA) is launching the two $25 million rounds to promote innovation in hydrogen and low-emissions iron and steel.
The investment rounds will include a laboratory-based research phase, then a commercialisation phase aimed at scaling up, demonstrating and deploying research breakthroughs and technologies in the real-world.
The hydrogen round will provide critical funding for research on hydrogen production and storage methods for both a domestic and future export hydrogen industry.
Global trading partners have expressed interest in becoming customers of Australia’s future green hydrogen export industry, and it’s investments like this that will help Australia seize those economic opportunities.
A further $25 million will go to the Iron and Steel Round for research to significantly reduce emissions across the steel value chain.
Australia’s iron and steel industries are critical to our economy now and into the future – research and technology to get emissions down will help the Australian steel industry thrive in a net zero global economy.
Minister for Climate Change and Energy Chris Bowen said the government’s support for clean energy R&D was critical to Australia’s energy transformation.
“The world’s climate emergency is Australia’s jobs opportunity, and the best way to seize that opportunity is by investing in Australian research and technology and deploying it.
“Australia can and should become a renewable energy superpower, continuing our role as a reliable energy exporter around the world. Developing technology to make, store and use hydrogen is essential, including to tap our potential as a competitive exporter of energy-intensive green metals,” Minister Bowen said.
“This announcement today comes in addition to our Safeguard Mechanism reforms and the Powering the Regions Fund to help future-proof industry and ensure our energy-rich economy remains competitive in a rapidly changing global economy.”
Expressions of interest for both the ARENA Hydrogen and Iron & Steel Research & Development Funding Rounds are now open.
