The Australian Government has established funding to support hydrogen-powered projects. The Advancing Hydrogen Fund will be administered by the Clean Energy Finance Corporation (CEFC).

The $190m (AUS$300m) fund will draw on existing CEFC finance and is expected to provide either debt or equity finance to eligible larger-scale commercial and industrial projects, typically requiring AUS$10 million or more of capital.

Hydrogen is currently used mainly for ammonia production in Australia, accounting for approximately 70 per cent of total hydrogen use nationally. The current ammonia production process is a material carbon emitter, accounting for almost one per cent of total Australian greenhouse gas emissions. Hydrogen has potential in far wider applications however, including transport, and high emitting sectors and those which lack scaleable electrification options. These sectors are collectively responsible for 30 per cent of Australia’s greenhouse gas emissions.

CEFC CEO Ian Learmonth said: “Accelerating the transition to green ammonia, produced using renewable energy, represents a sizeable abatement opportunity for Australia, with the potential to position Australia as a leading global producer and exporter of green ammonia.”

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