June 11: Australia and Singapore will establish a $30 million partnership to accelerate the deployment of low emissions fuels and technologies like clean hydrogen to reduce emissions in maritime and port operations.
Prime Minister Scott Morrison said Australia was driving practical international partnerships to get new energy technologies to commercial parity with existing approaches.
“We’re working with partners around the world to make clean energy more affordable and reliable,” Prime Minister Morrison said.
“We are positioning Australia to succeed by investing now in the new technologies that will support jobs and industries into the future.
“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 getting new energy technologies to parity with existing technologies was the only way to reduce emissions without imposing taxes or new costs on households, businesses and industry.
“We are working with our international partners and neighbours on practical commitments that will support technological innovation,” Minister 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.”
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 cheaper and drive investment in Australia-based projects to create up to 2,500 jobs.
The partnership recognises Singapore’s role as a major global shipping hub and Australia’s ambition to position itself as an emerging leader in the growing use of clean hydrogen and clean ammonia. This builds on the existing Australia-Singapore MOU on low emissions technologies and solutions.
Each country will commit 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 industry.
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.
Building demand for future low emissions energy exports will help Australia’s emerging hydrogen industry scale up, attract investment and create jobs. This will be critical to achieving the Technology Investment Roadmap goal of producing clean hydrogen at under $2 a kilogram (‘H2 under 2’).
Brokering practical international partnerships is a key part of the Government’s plan to accelerate the development of the Roadmap’s five priority technologies, with Australia’s Special Adviser on Low Emissions Technology, Dr Alan Finkel, playing a key role.
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.