CEFC is investing $750,000 in Hysata, a company working to commercialise a new electrolyser developed by the University of Wollongong which is expected to produce improvements on production efficiency and costs.
Hysata officially launched this month with $5 million in seed funding led by IP Group.
Federal Minister for Energy and Emissions Reduction Angus Taylor said the government has a vision for Australia to be a major global hydrogen player by 2030.
“Industry has a key role to play in helping us achieve this, which is why we’re backing research and development, and innovative projects like this one.
“Australian-led research will help to drive down the cost of new hydrogen technologies as we work to ensure that clean hydrogen can achieve cost parity with higher emitting alternatives as soon as possible,” he said.
The government said it was working with industry to bring the cost of clean hydrogen to below $2/kg where it can be competitive with energy alternatives.
The 2021/22 Budget included $275.5 million to support the development of regional hydrogen hubs throughout the country.
For more information visit the Hysata website.