According to The Australian Financial Review, the country’s green bank is nearing its first investment in the hydrogen sector as a landmark report for the bank found green hydrogen is already almost cost-competitive for long-distance trucks, buses and remote power but will take much longer for some sectors of industry.
Clean Energy Finance Corporation chief executive Ian Learmonth said the bank is in the late stages of investigating an Australian electrolyser technology company that has the potential to dramatically improve the efficiency of green hydrogen production.
The report for the CEFC by Worley’s consultancy arm, Advisian, found green hydrogen should become commercially viable for other parts of the transportation industry as early as 2030. Green hydrogen involves using renewable power to split water into hydrogen and oxygen, involving minimal carbon emissions.
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