Australian PM: “we see enormous potential in hydrogen”

This morning Prime Minister Anthony Albanese addressed the Sydney Energy Forum with a 26-minute speech about the future of the energy industry in Australia.

One thing that stood out to us was his remarks concerning the hydrogen industry. As you can see in the clip below, he said that the Australian government “see enormous potential in hydrogen”.

He added that “Australia has all of the ingredients needed to become a major hydrogen producer and exporter [...] with over 91% of hydrogen production planned being green hydrogen”.

He also stated, “we have plans to establish hydrogen refuelling infrastructure to support the next generation of heavy vehicles right around the country”.

Clearly, the Australian government is taking the hydrogen industry seriously and has big ambitions to make Australia a hydrogen superpower on the world stage.

We have long held the view that Australia’s access to abundant natural renewable energy resources, including solar and wind power, uniquely positions it to produce the cleanest form of hydrogen - green hydrogen.

As a result, we are Invested in Province Resources (ASX: PRL), which is looking to develop Australia's first truly zero-carbon, green hydrogen project.

To see why we are Invested in PRL, the key objectives we want to see the company achieve in 2022 and the key risks to our Investment thesis, check out our 2022 PRL Investment Memo here.