Australia backs renewable hydrogen tech with $15 million investment

Hydrogen tech leader Hysata, located in Port Kembla, plans to scale up its production of high-efficiency hydrogen electrolysers, financed partly by a $15 million commitment from the Clean Energy Finance Corporation (CEFC) announced yesterday.

The investment is part of a $172 million expansion plan for Hysata, which intends to reach gigawatt-scale production. Hysata's electrolysers boast an impressive 95% efficiency, significantly higher than the 65% efficiency of other modern electrolysers.

These electrolysers are crucial for producing green hydrogen, a key fuel in decarbonizing heavy industries such as steel, fertilizer, and shipping.

Minister for Climate Change and Energy Chris Bowen explained the significance of the technology in reducing the cost of hydrogen production and decarbonizing energy-intensive sectors.

"Clean, cheap renewable hydrogen is a vital part of a future made in Australia," Minister Bowen said. "Manufacturing electrolysers in Australia is a huge opportunity to shore up essential supply chains and leverage our innovation to capture more of the renewable energy technology chain."

Federal Member for Cunningham, Alison Byrnes, reinforced the importance of securing well-paid jobs and economic prosperity in regions like the Illawarra.

"With the energy transformation, the Illawarra needs to focus on how we can secure good, well-paid jobs and economic prosperity into the future," Byrnes said. "The technological leap that these electrolysers represent is proof that the Illawarra isn’t just adapting to the renewable energy revolution – we’re leading it."

The investment builds on the Federal support for Australian-made renewable hydrogen through programs like the Hydrogen Headstart initiative and the development of hydrogen hubs in regional Australia.

To read more about Hysata, go to their website here.