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 from ships and ports.
he Australia-Singapore partnership is part of Australia’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.
Under the partnership, 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 the industry.
Building on the existing Australia-Singapore MoU on low emissions technologies and solutions, 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.
We’re working with partners around the world to make clean energy more affordable and reliable. 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,
…said Prime Minister Scott Morrison.
Thank you PM Lee. While a brief visit, we got through a lot. The importance of ASEAN, regional security challenges, defence ties, working on a future travel bubble, our new hydrogen technology partnership, and a new FinTech bridge agreement. Hope to see you soon in Australia. https://t.co/SwVDLQj3bk
— Scott Morrison (@ScottMorrisonMP) June 10, 2021
Building demand for future low emissions energy exports is expected to help Australia’s emerging hydrogen industry scale up, attract investment, create jobs, and support the Technology Investment Roadmap goal of producing clean hydrogen at under $2 a kilogram (‘H2 under 2’).
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.
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,
…Minister Taylor said.
Australia’s Technology Investment Roadmap is expected to drive at least $80 billion of total new investment in low emissions technologies in Australia by 2030 and support over 160,000 jobs.