Last week the Australian Government announced a $50m investment in carbon capture and storage (CCS) projects to help dramatically cut the country’s greenhouse gas emissions.
The funding announcement was all part of the Australian Government’s $1.9bn investment in new energy technologies, which also included $70.2m to develop a hydrogen export hub.
Angus Taylor, Australia’s Minister for Energy and Emissions Reduction, said that getting the next generation of energy technologies right would not only help to keep prices low and the lights on, but would importantly grow jobs, strengthen the economy and reduce emissions.
On top of the $1.9bn announcement, the Government declared further support of $1.62bn for the Australian Renewable Energy Agency (ARENA) to invest, as well as expand the focus of ARENA and the Clean Energy Finance Corporation (CEFC) to back new technologies that will cut emissions in agriculture, manufacturing, industry and transport.
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