Research groups, start-ups and companies will receive the funds

The Australian Renewable Energy Agency (ARENA) has allocated A$59.1 million ($39.1 million) for 21 projects aimed at developing research and commercialization in the field of renewable hydrogen and low-carbon steel. This is stated in the report of the department.

The recipients of the funds are research groups from Australian universities, research organizations, startups, and companies, with individual grants ranging from A$1.3 million to A$5 million.

Each of the two rounds of funding (Renewable Hydrogen and Iron & Steel) was allocated 25 million Australian dollars ($16.55 million). ARENA noted that, given the quality of the applications, the total amount of funding was increased to A$59.1 million.

«We support Australian technological innovations that help build our clean industry and underpin our ambition to become a renewable energy superpower,» said Darren Miller, CEO of ARENA.

According to him, the chosen strategic priorities emphasized the importance of development in the areas of renewable hydrogen and low-emission metals, which will become an important export industry.

The agency recalled that Australia is the world’s largest exporter of iron ore, accounting for up to 53% of annual international exports. Decarbonization efforts in the steel value chain are expected to have a significant impact on global emissions reductions. In addition, renewable hydrogen will play a significant role in reducing emissions in sectors that are difficult to reduce.

As GMK Center reported earlier, mining company Fortescue has announced the opening of an electrolysis plant in Gladstone, Queensland, Australia. The modern production facility was built and fully commissioned in just over two years. It is expected to produce more than 2 GW of proton exchange membrane (PEM) electrolysis cells per year.