An Australian startup and mining behemoth Adani has agreed to a multi-million dollar contract to create new ways to source green energy.

Cavendish Renewable Technology, based in Melbourne, will develop mass-producible technology based on its research into hydrogen production.

It specializes in low-cost hydrogen electrolyzer technologies that remove oxygen from water.

The chief executive of Cavendish Renewable Technology, Dr. Ani Kulkarni, claimed that the world was entering a “golden area” for hydrogen.

He said to AAP, “We are incredibly happy. We are a small company, and the only reason we succeeded in the Australian market was due to our technological merit.

According to Dr. Kulkarni, the deal should be viewed as a significant boost to Australian startup culture because it represents an endorsement of the local business.

Instead of traveling to the US or Europe, they chose to visit Australia, which brought him great satisfaction.

It is intended that products created by the Australian company will first be utilized in India, where Adani New Industries Limited is establishing a new production facility, before eventually being used throughout the Middle East and North Africa.

The deal’s exact cash amount hasn’t been made public, but it will enable the business to progress from research to actual production, with a view to opening a factory by 2024.

The globe now produces about 100 million tonnes of hydrogen, but as interest increases, this number is anticipated to rise.