$540 Million Towards Hydrogen and Carbon Capture Is ‘Essential for Australia’s Future’: Australian PM

'I want Australia and hydrogen technology to be synonymous around the world'

Prime Minister Scott Morrison addresses the Business Council of Australia (BCA) dinner at the Fullerton Hotel, in Sydney, Monday, April 19, 2021. AAP Image/Joel Carrett

The Australian government has announced it will allocate around $540 million (US$420 million) towards hydrogen and carbon capture projects.

As part of the budget for the next fiscal year, the investment will see the development of clean energy technologies that reduce carbon emissions. It is estimated to create around 2,500 jobs for Australia.