The Australian Government has announced that it will allocate approximately $ 540 million ($ 420 million) to hydrogen and carbon recovery projects.
As part of the next year’s budget, the investment is expected to develop clean energy technologies that reduce carbon emissions. It is estimated that approximately 2,500 jobs will be created in Australia.
“It is imperative to make Australia successful by now investing in technologies that support future industries with low energy emissions that can support Australia’s employment,” said Australian Prime Minister Scott Morrison. ..
Prior to the summit chaired by US President Joe Biden, Morrison announced that Australia would show its own path to an emission-reducing economy by developing new technologies rather than penalties.
“The key to meeting our climate change ambitions is the commercialization of low-emission technologies,” Morrison said. Australian Business Council Supper on Monday. “We are not going to reach our climate change goals by punishing taxes. I am not going to tax our industry outside the globe.”
As part of the budget, $ 276 million ($ 214 million) will be spent developing four new “hydrogen hubs” for growth. Australia’s National Hydrogen Strategy..
Energy and Emissions Minister Angus Taylor said the hub of both hydrogen and carbon recovery projects is crucial to the prosperity of the clean technology industry.
“Hubs are a group of companies that work together to reduce costs, streamline their industries, build their supply chains around the world, and most importantly create jobs and drive investment. That’s what Taylor says. Press conference..
Hydrogen is at the forefront of Australian roads Low emission technology, And Morrison outlines that both hydrogen and carbon recovery are “essential for Australia’s future.”
“I hope Australia and hydrogen technology are synonymous around the world,” Morrison said.
“And the key point I point out at the Climate Summit in the coming days is that it really raises the flag on ensuring that Australia leads the world in hydrogen technology.”
Australia recently launched two hydrogen export projects in Victoria and Queensland. Both are part of a hydrogen supply chain project with Japan.
Morrison also pointed out Star Scientific, an Australian company with award-winning technology recently foretold by Australians. Government research For that “significance of hydrogen to the future”.
“It’s a really exciting technology. Organizations like this are seeing investments like no tomorrow,” Morrison said.
The patented Hydrogen Energy Release Optimizer (HERO) technology utilizes hydrogen and oxygen gas in the presence of catalysts (components not used in the reaction) to generate large amounts of heat.
HERO technology can be used in many applications. In particular, it can be used by replacing the coal-fired boilers of existing power plants so that the station can continue to be used without emissions.
An additional $ 264 million (US $ 204 million) will be used to support the development of carbon capture and storage (CCS). Carbon capture, use and storage (CCUS) projects.
Both CCS and CCUS involve carbon capture, with the difference that carbon dioxide is buried beneath the CCS or used as a raw material for CCUS.
“We have the world’s largest project here in Australia, with 60 projects around the world, but we are the world leaders,” referring to the Chevron Gorgon project in Western Australia. Taylor said.
Daniel Y. Teng contributed to this report.