Countrywide Hydrogen Secures $8 Million Funding for Green Hydrogen Production in Tasmania
Key Ideas
- Countrywide Hydrogen secures significant funding deal with Tasmanian Government to become the first major green hydrogen producer in the state.
- The investment of $8 million is part of the Green Hydrogen Price Reduction Scheme, highlighting the government's commitment to promoting the hydrogen sector.
- The project is expected to inject over $60 million into Tasmania's economy, with a focus on the heavy transport sector and industrial applications.
- Countrywide plans to expand production and refuelling facilities to other regions in Tasmania, aiming to stimulate both supply and demand for renewable hydrogen.
Countrywide Hydrogen has secured an $8 million funding deal with the Tasmanian Government to boost green hydrogen production and supply in Tasmania. This partnership marks a significant milestone, making Countrywide the primary green hydrogen producer in the state. The funding is part of the Tasmanian Government’s Green Hydrogen Price Reduction Scheme, aimed at fostering the hydrogen sector's growth. Countrywide Hydrogen's plan includes producing hydrogen at multiple locations within Tasmania, initially targeting the heavy transport sector and various industrial applications. The company intends to sell all produced hydrogen within the local market. The investment is projected to inject more than $60 million into Tasmania over the next three years, benefiting both regional economies and local communities. The first phase of the project involves establishing a hydrogen production and vehicle refuelling facility in Brighton, with an expected annual production capacity of up to 800 tonnes of green hydrogen. Future plans include expanding production and refuelling facilities to other parts of the state to serve major road freight routes, ensuring a reliable hydrogen supply. The scheme aims to boost both the supply and demand for renewable hydrogen. Countrywide will receive funding based on the amount of green hydrogen sold to end-users, bridging the cost gap and maintaining a stable sale price. This approach ensures price stability for green hydrogen, supporting end-users and advancing renewable energy goals.
Topics
Green Hydrogen
Renewable Energy
Infrastructure
Sustainability
Investment
Economic Development
Energy Sector
Government Support
Local Market
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