Hydrogen

Got gas: Can Australia still get on the hydrogen bandwagon?

The previous week has actually seen self-admitted carbon emitter and iron ore tycoon Andrew Forrest oust himself as a true believer in ‘green hydrogen’– that is hydrogen produced utilizing renewable resource– and is prospective to deal with environment modification.

In reality, Twiggy is so much of a follower that he has committed Fortescue Metals Group (ASX: FMG) to play its part in the green revolution by developing green steel plants that could create adequate jobs to replace every task in the coal industry.

This remains in stark contrast with the federal government’s plan or lack thereof to just keep coal mines running for as long as there is need.

He’s not alone either.

In August last year, UK steel billionaire Sanjeev Gupta flagged the potential financial investment of another 3,000 MW of renewable resource jobs in South Australia to support his strategies to turn his Whyalla Steelworks into a green hydrogen steel hub.

Hydrogen developments

However Australian isn’t the only country eager to leap on the hydrogen bandwagon.

In Germany, a consortium of Shell, Mitsubishi Heavy Industries, Vattenfall and Hamburg W√§rme are preparing to build among the world’s largest electrolysers in the Port of Hamburg.

This will have a capacity of 100 megawatts and will be constructed on the website of former Moorburg coal-fired power plant.

Denmark is developing its own hub that integrates big scale green hydrogen production with 2 massive energy storage options, underground hydrogen storage and compressed air energy storage.

Individually, Norwegian electrolyser maker Nel ASA is seeking to decrease the cost of green hydrogen to simply $US1.50 ($1.94) per kg by 2025 in a quote to outcompete nonrenewable fuel sources.

That’s almost half of an Australian National University cost quote of $3.18 to $3.90 per kilogram of green hydrogen that it released in a report in 2015.

Nel is seeking to attain this cost decrease by scaling the technology approximately multi-gigawatt scale and growing production capability.

Is Australia on the hydrogen bandwagon?

So has Australia made it to the hydrogen party or did we miss the bandwagon?

It is still prematurely to tell, specifically considered that the marketplace isn’t rather industrialized yet.

But there are assuring indications that Australia has an extremely genuine opportunity to sculpt out its place in the sector.

Australian states have committed to strategies including hydrogen while junior business such as ADX Energy (ASX: ADX), Global Energy Ventures (ASX: GEV), Real Energy (ASX: RLE) and Triangle Energy (ASX: TEG) are all progressing their hydrogen ambitions.

To top it off, Australia’s plentiful sunlight makes it among the best places for solar energy to reliably draw out hydrogen from water.

With huge weapons such as Twiggy on board too, there is every factor to believe that Australia may well be on the leading edge of sustaining the future.

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