We have invested in the forward-thinking company, H2Store who are developing advanced hydrogen technology to store renewable energy.
The use of hydrogen technology to store renewable energy is a world first. According to Alan Finkel, Australia’s Chief Scientist, the time for hydrogen has arrived. Japan has committed to being a long-term, large-scale customer for hydrogen; a market expected to be worth $12 billion. Similar demand is also likely from South Korea and China.
We aim to revolutionise the energy industry by developing low pressure, intrinsically safe, non-toxic hydrogen storage products. This technology increases the volume density of hydrogen, allowing for cost-effective bulk transportation to end users and export markets.
Our vision is to be the first to market with commercial hydrogen storage solutions.
The creation of dispatchable Hydrogen Energy power will ultimately benefit grid stability. Analysis to date indicates that our future products are already comparable to competitive chemical battery storage technologies.
Throughout 2019 and 2020, we will complete a series of prototypes and undertake a range of demonstration projects, both in Australia and globally. We aim to demonstrate the potential of these hydrogen storage systems to mobilise renewable energy and create a hydrogen economy. As we develop prototypes we will work with strategic industry partners to establish a manufacturing facility for commercialisation by the end of 2020.