ANZ’s ‘Hydrogen Handbook’ provides up-to-date and practical information exploring the possible economic benefits from using hydrogen as an alternative, low-emissions fuel with the potential to power vehicles, heat buildings and supply industrial processes.
ANZ Executive Director - Resource, Energy and Infrastructure and lead author John Hirjee said: “Hydrogen will play a key role in the decarbonisation of the global economy and presents an immeasurable commercial opportunity.
“As hydrogen emits no carbon emissions when burnt, it has broad commercial applications across transport, heavy industry and manufacturing.
“Australia’s ample wind and solar resources, as well as land mass, means the local industry has a natural advantage and potential to become a key exporter of hydrogen,” he said.
“There’s a significant opportunity for Australia as key trading partners in Asia including Japan and South Korea have developed national sustainability plans with hydrogen as a key alternative energy source. “ANZ is committed to helping customers across the region navigate challenges and the development of new technologies, products and services in the new hydrogen economy,” Mr Hirjee said.
ANZ’s ‘Hydrogen Handbook’ reports on the growing momentum within the public and private sector supporting the development of large-scale hydrogen projects. Challenges are also noted, including high production costs and the timeframe estimated for commercial production, which means the hydrogen export industry will take some time to develop.
The commercialisation of hydrogen is a key initiative under ANZ’s Environmental Sustainability Strategy. ANZ has a target to fund and facilitate $50bn by 2025 to support customers’ transition to a low carbon economy, which includes renewable energy, green buildings and emerging technologies such as hydrogen.
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