Premier Dominic Perrottet has landed in Seoul to promote green hydrogen manufactured in NSW.
He will meet with executives from South Korean automotive giant Hyundai on Monday to court them with his government’s green hydrogen strategy, involving $3 billion in incentives to commercialise hydrogen supply chains.
The global car manufacturer is a leader in hydrogen fuel cell technology, launching zero-emission electric vehicles.
Mr Perrottet is ambitiously targeting a whopping $270 billion of investment to be injected into the nascent and expensive industry as the world pushes for decarbonisation over the coming decades.
“We don’t want people filling up with oil from Middle East, we want people filling up with hydrogen from NSW,” the premier said last week in Japan on the first leg of his 10-day Asian trade tour.
“We have two deep seaports, we have an abundance of renewable energy and NSW has … a great opportunity to lead the nation when it comes to capital investment (and) job creation.”
Green hydrogen refers to that produced from electrolysis – splitting hydrogen from oxygen in water – using renewable electricity with zero direct emissions.
It can be used in generation, transport and heating.
Hydrogen is widely seen as critical to decarbonising industries that rely on coal, gas and oil.
The premier said his government is hoping to reduce the cost of production to $2.80 per kilogram by 2030.
Last week NSW Treasurer Matt Kean said the state, along with Victoria, would spend up to $20 million on hydrogen refuelling stations along the Hume Highway in a bid to drive down carbon emissions.
Extracted in full from: Hyundai hydrogen tech drives NSW talks | Whyalla News | Whyalla, SA (whyallanewsonline.com.au)