Australia and Singapore have partnered to invest $ 30 million for expediting the deployment of low emissions fuels and technologies, including clean hydrogen, to reduce emissions in maritime and port operations.
The partnership builds on the existing Australia-Singapore MoU on low emissions technologies and solutions. Under the initiative, each country will contribute up to $10 million over five years to fund industry-led pilot and demonstration projects, with at least $10 million of additional investment expected to be leveraged from the industry.
The Australia-Singapore partnership is part of the Government’s $565.8 million commitment to build new international technology partnerships that make low emissions technologies.
The initiative will trial the use of clean hydrogen, clean ammonia and other hydrogen derivatives in shipping and port operations and explore the potential for hydrogen demand from the maritime sector. These types of hydrogen projects will be critical to achieving the Technology Investment Roadmap goal of producing clean hydrogen at under $2 a kilogram (‘H2 under 2’).
Australia’s Technology Investment Roadmap will drive at least $80 billion of total new investment in low emissions technologies in Australia by 2030 and support over 160,000 jobs.
Australia PM Scott Morrison said, “We’re working with partners around the world to make clean energy more affordable and reliable.”
He further added, “Developing new low emissions industries means more jobs for Australian workers, and cheaper energy means lower costs for businesses so they can reinvest in hiring more people.”
Minister for Energy and Emissions Reduction Angus Taylor said, “Our joint investment with Singapore will attract investment into Australia, create jobs, reduce global emissions and help deliver on the goals of the Technology Investment Roadmap.”