Australia allocates $33.6m for hydrogen, steel R&D

The amount will be split equally between the hydrogen and steel rounds.

The Australian Government has allotted around $33.6m (A$50m) for two funding rounds for research and development for renewable energy and low-emissions iron and steel that would support the country’s net-zero efforts.

In a statement, the Australian Renewable Energy Agency (ARENA) said the fund will be split equally to each of the funding. Successful applicants for the funding can get a grant ranging from around $336,000 (A$500,000) to around $3.4m (A$5m).

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“Renewable hydrogen and low emissions iron and steel will be critical to Australia’s net zero economy. The research and development we’re funding now through these programs will underpin our clean industries of tomorrow,” said ARENA Acting CEO Chris Faris.

The agency said the research and development for hydrogen will include funding for two streams which are to improve and optimise the production of renewable hydrogen and hydrogen derivatives, and to explore storage and distribution solutions.

Meanwhile, the funding for the low emissions of iron and steel aims to significantly cut emissions across the steel value chain.

$1 = A$1.49