Following the recent release of its Technology Investment Roadmap, the Australian Federal Government has published its first Low Emissions Technology Statement.
Star Scientific Group Global Chairman Andrew Horvath welcomed the Government’s recognition that green hydrogen is a priority low emissions technology that can deliver vast economic benefits.
“We applaud the delivery of the first Low Emissions Technology Statement as part of the Technology Investment Roadmap. We believe this roadmap will help accelerate the commercialisation of hydrogen technology and in hindsight will be regarded as historic turning point in Australia’s move to sustainable energy and the industrial watershed that will follow,” said Mr Horvath.
Star Scientific has spent the last two decades researching hydrogen and knows that green hydrogen is an essential part of the global transition to a more affordable, sustainable form of energy and therefore, must remain a key pillar in the energy mix.
The statement outlines five priorities and economic stretch goals to make new technologies as cost-effective as existing technologies, including hydrogen production under $2 per kilogram.
The Australian government will now commence eleven key actions including the establishment of a Technology Investment Framework to prioritise the government’s investments in new technologies, investing $1.9 billion in a new energy technology package and conducting a review of legislative or regulatory barriers to technology uptake as part of the second annual Low Emissions Technology Statement.
Mr Horvath added, “We are encouraged by an approach that prioritises investment in renewable energy as there is a significant pool of global private investment available to leverage supportive government policy in green hydrogen.
“To avail of the opportunities hydrogen offers, it is imperative that governments continue to energise this emerging sector. This includes direct engagement with investors across the hydrogen supply chain, judicious investment in government programs and development of regulation for the hydrogen industry,” said Mr Horvath.
“As the most abundant element in the universe, we have a unique opportunity to harness the potential of hydrogen to create jobs, revitalise industry and secure energy sustainability. We look forward to working with Federal and State Governments to help Australia realise the transformational impact hydrogen will have in Australia and globally.”