'Crucial': $15m fund announced to kick-start bio industries
NEW jobs and opportunities are expected in Queensland's resource sector after the announcement of a $15million hydrogen industry development fund from the State Government.
The funding will support sustainable and renewable hydrogen projects across Queensland and applications are now open.
At the 16th annual BIO World Congress in Des Moines, Iowa, the Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the investment would help create new job and export opportunities.
"Queensland is recognised as a nation leader when it comes to bio-energy policies and growing sustainable energy industries like hydrogen," Mr Dick said.
"Our state is open for investment ... over the next four years, the State Government will invest $15million to support the development of renewable hydrogen projects in Queensland."
The fund is part of the Queensland Hydrogen Industry Strategy 2019-2024.
Mr Dick said he expected the fund to help position Queensland at the "forefront of renewable hydrogen production" in Australia by 2030.
Gladstone Mayor Matt Burnett spoke at the BIO World Congress about the fund being another positive step forward for the diversified energy industry in CQ.
"Our region has substantial strategic advantages when it comes to new energy sources like hydrogen and gas," Cr Burnett said.
"Initiatives like this fund are crucial to growing a sustainable hydrogen industry in Queensland, and will lead to more regional employment opportunities and better economic outcomes."
Mr Dick said the government had a plan for making Queensland the world's choice as a hydrogen exporter.
"Queensland is the perfect place to grow a renewable hydrogen industry," he said.
Applications for the Hydrogen Industry Development Fund close August 21, 2019.
For more information visit dsdmip.qld.gov.au/hydrogen.