Japan Australia Hydrogen Agreement

„Australia is going to become a hydrogen giant, but green hydrogen is important, where Australia has affordable renewable energy and state support to proactively develop the industry,“ he said. These traditional carbon-intensive methods can produce so-called „grey“ hydrogen at a cost of about $1.36 per kg, which BofA estimates is to cost US$4-10/kg for „green“ hydrogen produced by the use of renewable energy. But the cost of renewable energy and electrolysis used to produce hydrogen from water is rapidly decreasing. „We believe we are reaching a turning point where green hydrogen could meet our energy needs, refuel our cars, heat our homes and be used in industries that do not have an economically viable alternative to fossil fuels,“ said Haim Israel, global director of thematic investment strategy at BofA. The project, co-financed by the two governments, includes the development of the world`s first liquid hydrogen transport vessel. Minister Canavan and Japan`s Minister of Economy, Trade and Industry Hiroshi Kajiyama signed the Joint Declaration on Cooperation on Hydrogen and Fuel Cells to demonstrate their commitment to cooperate in the supply of hydrogen. A common slogan at the turn of the century, according to which the hydrogen economy could finally be realized on the back of lower technological costs and the growing interest of policy makers. Read more about hydrogen The $7 million hydrogen project goes into UK Green Hydrogen Start-up Hy2gen Taschen`s Big Investor „Australia is building a hydrogen production base to stimulate domestic growth and meet future export demand in Japan and the region. The odds are great,“ he said.

The companies that run the Latrobe project believe it can become a catalyst for a global hydrogen economy that Bank of America says will reach up to $11 trillion by 2050. The Latrobe plant is just one of many hydrogen megaprojects in the planning or development phase in countries ranging from Saudi Arabia to China and Spain. To achieve these goals, nations must use huge amounts of solar, wind and hydropower to replace fossil fuels, which still account for four-fifths of global energy production. Renewable energy already plays an important role in the electricity sector, but their intermittent nature forces industry to consider flexible hydrogen-containing solutions to store, ship and ship electricity if necessary. „The most wonderful use of hydrogen is the ability for us to continue what we`ve been doing for hundreds of years,“ he says, „to ship energy from a continent where it extends abundantly to continents, where it`s scarce.“ Matt Canavan, Minister of Resources and Northern Australia, has signed a joint declaration on cooperation with Japan, in which the use of hydrogen as a clean, affordable and sustainable energy source is getting closer. „A lot of research is underway“ to transport hydrogen over long distances, for example with ammonia as a carrier, said Dr. Veronika Grimm, professor of economics at the University of Erlangen-Nuremberg in Germany.