Lazard explains in a new report that the levelized cost of hydrogen (LCOH) is typically lower for green hydrogen than for pink hydrogen when using both PEM and alkaline electrolyzers, with or without supports. At the same time, Australian authorities are trying to make the local hydrogen sector more competitive while car companies update their fuel cell plans.
Australian Renewable Energy Agency (ARENA) has announced A$50 million ($34 million) in two rounds of funding targeting research and development for renewable hydrogen and low-emission iron and steel. “Funding for successful research and development projects is granted in two phases: the first laboratory-based research phase, followed by a commercialization phase, which aims to scale and demonstrate research breakthroughs.” said ARENA. Each round of funding will be allocated AUD$25 million, and successful applicants are expected to receive grants of between AUD 500,000 and AUD 5 million.
Australia other countries that have promoted their industry with subsidies are competing in the hydrogen race. Australia is now working to create a favorable investment environment by improving regulatory certainty and developing a domestic hydrogen guarantee of origin scheme, as well as providing grants, incentives and access to lower interest financing through the Clean Energy Finance Corporation’s AUD 300 million. ($202 million) Advancing Hydrogen Fund. “Australia’s announced pipeline of over 100 hydrogen projects represents a potential investment of around A$230-300 billion. This represents almost 40 per cent of all global clean hydrogen project announcements and highlights Australia’s potential to be among the world’s leaders. said Chris Bowen, Australia’s Minister for Climate Change and Energy, in State of Hydrogen 2022. The report finds that by December 2022, only one project with a capacity of at least 10 MW has passed FID from this investment pipeline.
Hopium said it wants to prioritize the development of its technology in order to quickly utilize its expertise while “keeping Hopium Machina in sight”. The French company reorganized its operations around two divisions: Hopium Technologies, which develops fuel cells for the professional market, and Hopium Automotive, which develops a variety of hydrogen vehicles for the general public.
Toyota announced releases details of three new Crown models. One of them, the Sedan Crown car, is a hydrogen fuel cell model. The car is expected to enter the market in the fall of 2023. The new model is the company’s second FCEV offering after the Toyota Miral.