Our Equities Trader, Morgan McGuire, discusses hydrogen fuel as the next energy revolution.
The world as we know it, is amid a once in a lifetime period of transition. Changes to our Economies, Health Practices, Political outlook, and the ever-present looming threat of global conflict is reshaping the “normal” that we had become accustomed to. With all that is taking place, one factor remains true, the way we live our life depends on power derived from multiple energy sources. The world is rethinking the way in which we produce, consume, and the byproducts that are created by our energy consumption.
Last year, the world’s leaders came together to discuss viable solutions to the reduction of our carbon footprint on the world. It is now evident that Hydrogen Fuel is becoming the sought-after solution to green energy production in the plan for decarbonisation. Australia has taken the initiative to aim at capitalising on the need for green energy solutions and has begun positioning itself as the premier Hydrogen Fuel production and manufacturing country. Underlining this movement is the penning of Australia’s National Hydrogen Strategy.
Global hydrogen demand by sector in the Net Zero Scenario, 2020-2030
With intentions of continually strengthening Australia’s vision as the global leader in the hydrogen sector. Australian Renewable Energy Agency (ARENA) has established a robust framework to ensure that goal is realised. ARENA has been the catalyst for multiple green energy projects one of which is the Renewable Hydrogen Project which has undergone a Feasibility Study with a proposed central Queensland location.
Additionally, ARENA has been a key contributor in an alignment between Australia and Germany. Both countries have agreed to commit up to AU$50 million and €50 million, respectively, to invest in the new German-Australian Hydrogen Innovation and Technology Incubator project HyGATE. The aim of HyGATE is to strengthen the Australian-German cooperation regarding the implementation of a value chain for hydrogen produced from renewables and stimulate the innovation process in both countries.
As governments look to establish policy and legal frameworks that will be consistent with the transition, companies have emerging obligations to meet sustainability requirements and need solutions for this challenge. Two companies that are well-positioned to be the answer to these problems and are geared towards the hydrogen energy transition are:
Infinite Blue Energy
Infinite Blue Energy (IBE) is a pioneer of green hydrogen developments, leveraging domain expertise in developing renewable hydrogen projects that facilitate the global transition towards net-zero emissions. Based in Perth, Western Australia, Infinite Blue Energy (IBE) Green hydrogen will be produced utilising a combination of renewable energy from solar (65MW) and wind (90MW), displacing 118,000 tonnes of CO2 emissions annually.
H2X Global
H2X Global is an Australian automotive company developing hydrogen fuel cell electric vehicles (FCEVs) and other fuel cell solutions for global use. The Company recently launched its flagship first to market hydrogen fuel utility vehicle, the Warrego, for reservation and is developing a range of FCEVs for industrial use, underpinned by the Company’s unique fuel cell powertrain technology.
Summary
Hydrogen is fast becoming the premier choice as a replacement to the fossil fuels era. Australia is well-positioned to capitalise on the opportunity with the abundance of natural resources, and landmass to accommodate the infrastructure to produce hydrogen. Two Australian projects are open for public participation and are well-positioned to contribute to Australia’s dominant role in the hydrogen fuel revolution.
Further Information
- QLD Hydrogen Industry Strategy
- ARENA General Funding Strategy
- Australia's National Hydrogen Strategy
- Hydrogen Projects Database
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