Townsville looks set to be one of the central hydrogen producing regions in the country following a $70million funding announcement by Prime Minister Anthony Albanese.

It was an important development said Mr Albenese in Townsville on the weekend.

“Australia is already one of the largest exporters of energy in the world,” he said. “… a thriving hydrogen industry here in North Queensland will be critical for us to become a renewable energy superpower as well.

“The hub will help secure jobs and economic growth in Queensland, delivering on one of our key commitments, and could also pave the way for exports to our valued trading partners in Japan, South Korea and across Asia.”

Related:  Regional Hydrogen Hubs Program – Townsville region grant opportunity.

The federal government flagged matching funding from the state in the announcement.

‘With matched funding, the region will see a $140 million investment in renewable hydrogen for our own use or to supply the rest of the world as fuel, energy generation and storage, or as a chemical feedstock’, it said..

‘The region’s port facilities, workforce capacity, and proximity to Asian trading partners make it an ideal location for a green hydrogen hub.’

Similar funding has previously been announced for Gladstone.

Related: European Energy backs Gladstone hydrogen plan

Future value was forecast in the announcement.

‘By 2050, Australia’s hydrogen industry could generate $50 billion in additional GDP and create over 16,000 jobs, as well as an additional 13,000 jobs from the construction of renewable energy infrastructure to power the production of green hydrogen.’ 

‘Producers, consumers, and potential exporters of hydrogen across industrial, transport, export and energy markets are eligible to apply for the Townsville Region Hydrogen Hub program.’ 

Grants from $30 million to $70 million will be available under an open and competitive application process when applications open in March 2023.

The Department of Climate Change, Energy, the Environment and Water will provide an information session for potential applicants in the coming months.