Australian Government to invest $1.9bn in new energy technologies

A new hydrogen export hub worth $70m and a push for hydrogen fuel cell vehicles through a $74.5m future fuels fund, have today been announced by the Australian Government as part of a $1.9bn investment in new energy technologies.

The Government said the new hydrogen hub will scale-up demand and take advantage of the advancements of the low emission, high powered source of energy. A future fuels fund will also allow businesses and communities take advantage of hydrogen through vehicle opportunities.

“These investments create jobs and they bring new technologies into play. This will not only cut emissions but deliver the reliable energy Australia needs while driving down prices for homes and businesses,” the Prime Minister said.

Australia’s Minister for Energy and Emissions Reduction, Angus Taylor, said getting the next generation of energy technologies right would not only help to keep prices low and the lights on, by grow jobs, strengthen the economy and reduce emissions.

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