Government agency ARENA has committed $59.1 million to renewable hydrogen and low emissions iron and steel projects, surprising applicants with almost 20 percent more funding than expected. Initially, up to $50 million was allocated for these projects, but the quality of applications led to an expansion of the hydrogen round.
The funding will support a total of 21 research and commercialization projects across universities, research organizations, startups, and companies. The projects aim to focus on the commercialization of renewable hydrogen and emissions abatement pathways in the iron and steel industry.
The Australian government’s investment in these projects signifies a big commitment to clean exports, as it aims to decarbonize the iron and steel value chain to meet emission reduction targets and capitalize on the growing demand for green metals globally. With other countries implementing cross-border carbon tariffs, Australia sees an opportunity to lead in this sector.
The funding will be provided in two stages, starting with core research and followed by research commercialization to scale and demonstrate the market application of breakthroughs in the field. The projects cover a wide range of innovations, from low emissions iron production to efficient hydrogen production and storage technologies.
With a focus on growing renewable hydrogen and low emissions metals as significant export industries, ARENA’s funding will play a crucial role in driving innovation in the sector. This support aligns with the government’s vision for a sustainable and competitive future, creating opportunities for job growth, lower emissions, and more affordable energy.
