PRESS RELEASE: Energys Australia Statement on the 2024-25 Federal Budget

Energys welcomes the Federal Government’s commitment in the 2024-25 budget, particularly the significant focus on renewable hydrogen, which aligns perfectly with our mission to pioneer hydrogen fuel cell technology. We are encouraged by the “Future Made in Australia” initiative, which promises to stimulate local manufacturing and enhance Australia’s role in the global clean energy sector.

“We are pleased that the government recognise the enormous economic potential of renewable hydrogen, the measures announced in the budget certainly demonstrate that the Government understand hydrogen is here to stay.” Said Energys Founder & VP Dr Noel Dunlop.

While the budget provides a robust foundation for the growth of the hydrogen industry, primarily targeting export markets, it lacks specific measures for boosting local demand for hydrogen products such as hydrogen vehicles, fuel cell power generators, and other hydrogen-based technologies like marine propulsion. Local adoption of these technologies contributes to energy independence and positions Australia to secure its industries against geostrategic oil supply issues and move decisively towards our net zero commitments.

The “Future Made in Australia” initiative is a step in the right direction and presents an extraordinary opportunity to rejuvenate our manufacturing sector. However, to fully realise this potential, more detailed strategies and incentives are needed to promote the local use of hydrogen. This would catalyse the domestic hydrogen economy and create the manufacturing capacity necessary to supply emerging global markets.

“It’s great that hydrogen production is being incentivised on such a large scale. We want to ensure that the Australian advanced manufacturing sector fully benefits from this.” Said Dr Dunlop.

“Every hydrogen production project faces the same hurdle; who are the off-takers?” he said.

“Export customers for hydrogen are, at present, ill-defined and a long way off – as are the transport ships. Right now, however, there are local adoption opportunities that are commercially viable today. With some well-targeted government incentives for adoption, we can kickstart Australia’s broader hydrogen manufacturing sector now.”

To kickstart this sector, we urge the government to introduce specific incentives for the local adoption of hydrogen technologies. Such measures would ensure the development of a robust domestic market, driving industry growth and supporting the expansion of manufacturing capabilities necessary for export. By doing so, Australia can establish a leading position in the global hydrogen landscape.

Energys is eager to engage with the Federal Government and other stakeholders to expand on these initiatives. We aim to enhance the support structures within the budget to ensure that they foster international competitiveness and bolster local market growth, bringing the ambitious vision of the “Future Made in Australia” to fruition for the hydrogen sector.

ABOUT ENERGYS

Energys Australia is at the forefront of the zero-emissions energy revolution, committed to advancing the nation towards a net-zero emissions future through world-leading hydrogen energy solutions. As an industry leader in hydrogen fuel cell technology, Energys specialises in designing and manufacturing state-of-the-art fuel cell generators, powerhouses, and modular fuel cell engines. Our products are integral to delivering sustainable energy solutions across various sectors, including transport, marine and industrial applications, significantly reducing environmental impacts and fostering a sustainable energy future.

Energys excels in manufacturing and provides comprehensive feasibility studies, engineering services, and expert consulting globally, aimed at empowering industries to transition to zero-emissions energy sources. As Australia embraces a “Future Made in Australia,” Energys is poised to lead the charge in harnessing the vast potential of renewable hydrogen, driving local manufacturing, and exporting cutting-edge technology to the world. For more information, please visit energys.com.au.

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