Leaders from Australian hydrogen startup Hysata are joining Prime Minister Anthony Albanese on his four-day visit to the US to meet President Joe Biden. Hysata is commercialising a hydrogen electrolysis breakthrough that claims to improve efficiency by 20%.
Investment and forecast revenue from Australian resources critical to low-emissions energy technologies has grown dramatically in 2022, federal government reports find. The forecast export earnings from critical minerals has grown 50% in the year, while hydrogen projects now make up the nation’s largest single component by value, though in a highly speculative form.
Wood MacKenzie’s energy transition modelling is predicting a primacy in the future low-carbon hydrogen economy for Australia. Thanks to the country’s solar irradiance and renewable energy expertise, as well as its relative proximity to major off-taker markets, Australia could be looking at export revenues of up to US$90 billion by 2050.
Researchers from the University of New South Wales have run the numbers, run them again, and then run them a third time to make triply sure. Australia’s solar resources and the rapidly falling costs of solar-powered hydrogen production mean that the future hydrogen economy is green whether the Morrison Government likes it or not.
Australian and Japanese trade ministers met in Melbourne last week to sign a joint statement of cooperation. The agreement and collaboration between the two nations hopes to affirm Australia’s potential as a major exporter of hydrogen, with Japan as a key recipient.
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