Rising demand for green hydrogen in the economic powerhouses of Japan and South Korea — where development opportunities are limited — has investors in those nations turning down under to source the renewable fuel. That export demand will prove to be a boon for the sector in Australia, which is in the midst of its own push to boost green hydrogen production, according to several sources.
The demand is being driven in part by government subsidies, such as a Japanese scheme set to start by 2030 that will help bridge the price gap between hydrogen and conventional fuel. Similarly, spending on green hydrogen projects by South Korea’s government has jumped in recent years.