I agree with @emmar. The only other thing I would add as a critical factor is the policy landscape. If Australia wants to turbo-charge this industry - and all indications are that it does, definitely at the State level but now increasingly at the Commonwealth level - then PRL (thanks to geography and it’s strategic partnerships) is already ahead of the pack and strongly positioned relative to its peers.
Hydrogen has tremendous potential as a new sunrise industry for Australia, and I think governments - regardless of political stripe - are increasingly switching on to this. Don’t be surprised to see the recent accord between the Commonwealth government and Germany replicated soon with France as well as other non-European nations including Asia. I expect that David Frances is spending as much time on the phone to Canberra as he is to Paris at the moment, and bolstering his government relations team will be a budget priority for PRL going forward.
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