Prime Minister Scott Morrison and Energy Minister Angus Taylor will announce the increased funding for hydrogen-related sectors on Monday, ahead of a more stringent United Nations climate summit in Glasgow in November.
To cut costs, the government has already committed more than $300 million to four hydrogen hubs that will bring together producers, consumers, and exporters in one area.
Bell Bay in Tasmania, Darwin, South Australia’s Eyre Peninsula, the Hunter Valley in NSW, Victoria’s La Trobe Valley, and Western Australia’s Pilbara area were selected as the most potential centers.
These locations have indicated an interest in the idea, which builds on each region’s existing infrastructure and resources.
The additional $150 million will be used to build two more hubs.
Mr Taylor said the hubs were critical to the government’s goal of making Australia a significant producer and exporter of hydrogen by 2030.
“To make this a reality, we want to engage with business and work with state and territory governments,” he added.
The government is giving funds ranging from $500,000 to $3 million for hydrogen research and development. The hubs will be funded with grants ranging from $30 million to $70 million.