Beyond Zero Emissions says new hydrogen funding good foundation for Renewable Energy Industrial Precincts

Beyond Zero Emissions welcomes the announcement that an extra $150 million will be invested by the federal government into clean hydrogen industrial hubs and says this will make a good foundation for Renewable Energy Industrial Precincts.

Head of Policy and Research of Beyond Zero Emissions Tom Quinn said, “Today’s clean hydrogen industrial hubs announcement is an important step towards reindustrialising our regions with clean manufacturing and unlocking Australia’s potential as a clean export powerhouse.

“Government support to de-risk investment in green hydrogen is key to creating thousands of new regional jobs and diversifying our regional economies.

“Research from Beyond Zero Emissions has shown the enormous jobs and economic potential of investing in Renewable Energy Industrial Precincts. Establishing Precinct in the Hunter and Gladstone precincts would create 45,000 new ongoing jobs, an extra $13 billion in annual revenue in the Hunter and Gladstone regions alone, and attract new industries and tens of billions of investment dollars to the regions. Establishing a clean hydrogen industrial hub in these regional locations is an important first step.

“Green hydrogen is a critical ingredient for the future of heavy industry in Australia including for the production of green ammonia, green steel and creation of high temperatures needed in industrial and manufacturing processes.

“Importantly, the government must ensure funds are allocated to upgrade industrial facilities so they are hydrogen ready. Onshore use of green hydrogen in our industrial centres will create more jobs, maintain competitiveness of exporters in a low carbon future, and keep more of the financial benefits in Australia.

“Coordinated effort is also required to upgrade electricity transmission to link our industrial centres, like the Hunter, Latrobe Valley, and Gladstone, with the abundant and competitive energy in Australia’s dedicated Renewable Energy Zones.

“This announcement of an extra $150 million for the clean hydrogen industrial hubs is a good first step towards a zero-carbon economy.”