Australia Offers New Funding in Rush to Deliver Green Hydrogen

(Bloomberg) — Australia will invest A$70 million ($49 million) in the development of a green hydrogen hub in Queensland, as the nation aims to add exports of the zero-emissions fuel to its role as a key fossil fuel supplier.The funding joins more than A$450 million already allocated to spur construction of clean energy equipment manufacturing, solar and wind farms and export infrastructure in traditional mining and coal areas including the Hunter Valley in New South Wales and Western Australia’s Pilbara region.Developers including billionaire Andrew Forrest are attempting to use clean electricity to extract hydrogen from water and ship the fuel overseas. Forrest’s Fortescue Future Industries aims to start producing 15 million tons a year by 2030.“This isn’t a niche industry,” Prime Minister Anthony Albanese told reporters Saturday in Townsville, Queensland. “This is…

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