WA fronts up $61.5 million in green hydrogen pitchThe WA...

WA fronts up $61.5 million in green hydrogen pitch

The WA Government wants to stake its claim as the place to go to develop green hydrogen projects, pledging $61.5 million in this week’s State Budget to grow the emerging industry in the west.Premier Mark McGowan today announced a package including a $50 million fund to stimulate a domestic end market in transport and industry for the much spoken about, but fledgling, commodity.Demand for renewable backed hydrogen is tipped to grow to more than US$10 trillion by 2050 by Goldman Sachs, which green hydrogen advocate Andrew Forrest recently claimed would dwarf Australia’s famous $150 billion iron ore industry.McGowan said hydrogen could sit alongside iron ore and LNG as one of WA’s major export industries in the coming years.“Hydrogen offers incredible potential for our State, with the capacity to sit alongside iron ore or LNG as a major export commodity – supporting local jobs and delivering wealth for all Western Australians,” he said.My Government is focused on making sure WA has every advantage to secure opportunities and investment in the emerging hydrogen industry.“This $61.5 million initiative will attract investment, support work to grow a local hydrogen production industry and drive local demand for hydrogen – delivering local economic benefits and helping WA meet its emissions reductions targets.”