The business delegation will be investigating opportunities for Australian companies under the US’ historic $580 billion (USD 369 billion) Inflation Reduction Act, which is offering significant subsidies for hydrogen – to such an extent, some fear it will wipe out Australia’s hopes of being a global contender.
Nonetheless, it has long been rumoured Australia will be given special considerations and access under the Inflation Reduction Act, though exactly how this will work is not yet certain.
Hysata officials are reportedly joining Australian Prime Minister Albanese as he visits the US and President Biden these next days. Biden extended the invitation after he had to cancel his official visit to Australia earlier this year. Although their timing is still far from ideal given the duel crises in the Middle East and in the US Congress, Australian delegates are set to focus on “building an alliance for the future,” clearly with an eye on clean energy.
Hysata is one of Australia’s most hyped hydrogen companies, claiming to have made a major breakthrough in electrolyser technology. The electrolysers are based on a breakthrough made at the University of Wollongong on the New South Wales south coast.
Hysata is currently developing a manufacturing facility near Port Kembla, with Paul Barrett, the company’s chief executive, saying it expects to ramp up to 1 GW of capacity annually within years.
Currently, 100 MW of manufacturing capacity being built and this production line is expected to come into operations next year.
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