$2 million of state government investment is set to boost the development of clean hydrogen energy technology in Victoria.
Minister for Energy, Lily D’Ambrosio, announced the Victorian Hydrogen Investment Program, which will help fund a number of initiatives, including a grants program to kickstart Victoria’s hydrogen industry.
Hydrogen produced from renewable technologies presents extensive export market opportunities, particularly to Japan and Korea, and could complement the clean energy revolution in Victoria.
The program will fund investment in hydrogen research and trials, and investigate ways to draw on Victoria’s increasing renewable energy resources and natural gas pipeline infrastructure.
The program may also support feasibility studies, business cases and projects that will advance our understanding of how hydrogen can contribute to growing Victoria’s economy and to reducing greenhouse gas emissions.
The Labor Government will increase Victoria’s renewable energy target to 50 per cent by 2030, creating thousands of jobs, putting more energy into the grid and driving down energy prices.
To ensure the program is well targeted, the government will first consult with business and industry through a Request for Industry Submission process, open from Wednesday 19 December to Thursday 28 February 2019.
For more information about the program, visit: energy.vic.gov.au