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HydGene Renewables green hydrogen technology secures funding

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Innovative Australian hydrogen technology company HydGene Renewables has secured the backing of a specialist UK investor along with Australia’s green bank in a successful A$6 million seed raise. HydGene's innovative technology uses biocatalysts to convert organic waste, including agricultural byproducts, into valuable hydrogen. The process takes place in modular plants, which would enable localised hydrogen production and reduce transportation costs in rural and remote areas. The strategic investor consortium is led by UK venture capital firm Agronomics (A$2.5m) with the Clean Energy Finance Corporation (CEFC, A$2m), Understorey Ventures and NOAB Ventures. The funds will help HydGene establish a pilot plant, expand research and scale operations.

A fuel truck with fuel hose connected to the wing of a passenger jet aircraft.

Boost for sustainable aviation fuel industry in Australia

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Australia has taken a significant step towards establishing itself as a global leader in sustainable aviation fuel (SAF) by setting up a new Jet Zero Council. The council will bring together key industry players including airlines, manufacturers, airports, fuel suppliers and government agencies to tackle aviation emissions and provide guidance on SAF development. The Australian Renewable Energy Agency will also invest A$30 million to support domestic SAF production from agricultural feedstocks. “Australia’s strong agricultural sector means we could be a global leader by scaling up domestic production of renewable fuel for exports, which could help reduce global aviation emissions significantly,” Climate Change and Energy Minister Chris Bowen said. The International Air Transport Association estimates SAF could contribute around 65 per cent of the emissions reduction needed for the industry to reach net-zero by 2050.

A pile of grey and brown coloured zeolite rocks on the ground after excavation

Australia’s national strategy aims to accelerate growth in critical minerals sector

Australia has unveiled a new strategy to grow its critical minerals sector and maximise the benefits of its internationally significant resources. The Critical Minerals Strategy 2023–2030 includes objectives such as building supply chains through strong international partnerships, fostering local processing capabilities and developing infrastructure through investment opportunities. Led by the Australian Government Department of Industry, Science and Resources, the strategy will provide a framework to guide policy decisions. It’s backed by a A$500 million targeted investment into critical minerals projects via the Northern Australia Infrastructure Facility and financing through the Critical Minerals Facility and National Reconstruction Fund. Minister for Resources Madeleine King says it “outlines the enormous opportunity to develop the sector and new downstream industries which will support Australia’s economy and global efforts to lower emissions for decades to come”.

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Australian Government powers up digital games sector

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Digital games developers in Australia can now access a major new tax incentive. Australia has legislated to create a 30 per cent refundable tax offset for qualifying games development expenditure. Developers will be able to combine the DGTO with existing state-based incentives–creating incentives worth up to 40%–45% of eligible development costs. The game-changing incentive makes Australia’s growing digital games sector even more attractive to international developers and investors.

Red hot block of steel casting during the manufacturing process

Geoscience Australia releases first comprehensive assessment of Australia’s green steel potential

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Australia has the potential to become a major global player in green steel, a new report finds, thanks to its abundant renewable resources and track record as the world’s leading iron ore supplier. Geoscience Australia and Monash University have released the first comprehensive assessment of Australia's potential to develop green steel as a new export industry. The study pinpoints regions of current and future iron ore production suitable for green steel production and highlights the opportunities and challenges for the Australian iron ore industry in meeting the global demand for low-emissions steel. Optimising processes using wind and solar could significantly decrease green steel production costs to around AU$900 per tonne by 2030 and AU$750 per tonne by 2050, it finds.

Red hot lengths of steel are being rolled in a foundry

Rio Tinto and China Baowu partner on sustainable steel production in Western Australia

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The world’s largest iron ore producer Rio Tinto and steelmaker China Baowu are partnering on projects to produce green steel. A memorandum of understanding, signed this week, builds upon their existing US$2 billion joint venture developing the Western Range iron ore mine in Western Australia’s Pilbara region. The agreement covers a range of projects to cut emissions across the steel value chain including opportunities for producing low-carbon iron in Western Australia. Rio Tinto earlier announced a goal to develop one gigawatt of solar and wind power at its Pilbara operations. The companies will also explore the development of a direct-reduced-iron plant, advanced technology for high-grade iron ore pellets, and expanding emissions-reducing technology.

A concept image of the front entry and carpark of a new distribution centre building with a truck driving down a road

Toll Group invests A$210m in new Australian distribution facilities

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Toll Group is investing A$210 million in two new warehouse and distribution facilities in response to growing customer demand in Australia. Both facilities are part of the company’s plans to invest A$400 million in the Australian market over the next four years in facilities, fleet and technology. Toll is opening a A$10 million healthcare distribution facility to deliver critical medicines and medical devices to Queensland communities. The company is also building a A$200 million retail warehouse and distribution facility in western Sydney. Spanning over 67,000 sqm and featuring A$75 million of advanced automation technology, the facility will be able to store close to one million cartons and dispatch 37 million items each year.

Rocket lifting off from a space launch complex

Australia and US reach agreement to strengthen space sector

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Australia and the United States have reached an in-principle agreement on sharing sensitive space technology. The technology safeguards agreement (TSA) paves the way for US rockets and satellites to be launched from Australia, positioning the country as a critical link in the global space industry's supply chains. Prime Minister Anthony Albanese and US President Joe Biden announced the TSA during the G7 Summit in Japan, highlighting the opportunities it will bring for increased investment and bilateral collaboration in space exploration. The Head of the Australian Space Agency, Enrico Palermo, emphasised the significance of the agreement, stating that it is a “vital step in continuing to expand Australia's space sector” and attract commercial opportunities.

The rear of several electric vehicles plugged in to charging stations

Australia’s national strategy aims to accelerate adoption of electric vehicles

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Australia has unveiled its first electric vehicle (EV) strategy, with the goal of increasing EV uptake, reducing emissions and boosting Australian supply chains. The National Electric Vehicle Strategy includes objectives such as improving charging infrastructure, incentives to encourage  demand and developing a fuel efficiency standard to support imports. It also highlights plans to capitalise on Australia’s critical mineral resources to shore up battery and component supply chains. Minister for Climate Change and Energy Chris Bowen says the "strategy provides the coordination and leadership to drive down costs and improve infrastructure so that we get more affordable and accessible electric vehicles on the market”. It’s supported by other government initiatives including the Australian Made Battery Plan, Critical Minerals Strategy, A$500 million Driving the Nation Fund and A$1 billion for value-adding in resources through the National Reconstruction Fund.

Concept image of Infinite Green Energy's Arrowsmith hydrogen project.

Samsung partners with Infinite Green Energy to build A$5B green hydrogen project

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Australian hydrogen company Infinite Green Energy (IGE) has partnered with Korean industrial giant Samsung to build a A$5 billion green hydrogen facility. The Arrowsmith hydrogen facility is set to produce over 100,000 tonnes of green hydrogen annually, resulting in a reduction of 1.3 million tonnes of CO2 emissions. Spanning a vast 1,929-hectare property in Western Australia, the facility will integrate 700MW of electrolysers, 750MW of solar PV, 1,550MW of wind capacity and 240MW of batteries. With the first hydrogen expected to be produced in 2028, the project primarily targets the surging demand in key global markets, particularly Japan and South Korea. This collaboration builds upon the existing successful partnership between IGE and Samsung on the development of a smaller hydrogen plant in Australia, the Northam MEG HP1 Project.

A cube satellite with solar panels extended either side in orbit above Earth.

Australia collaborates on international effort to launch COSPAR satellite

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Australian space startup HEX20 is collaborating with international partners to launch the COSPAR satellite. The joint effort is coordinated by the Committee on Space Research (COSPAR), an international scientific body, with the participation of space research institutions LASP (USA), NCU CAPE (Taiwan), LATMOS (France), and SKYROOT Aerospace (India). The project will study the Earth's atmosphere, including atmospheric dynamics and chemistry, and the effects of space weather. It will provide valuable data for weather forecasting, climate modeling and scientific exploration. Austrade’s Trade and Investment Commissioner to India, Abdul Ekram, highlighted the rapid growth of Australia's commercial space sector, stating, "Space is emerging as one of the fastest growing commercial sectors in Australia with unique advantages such as Australia’s physical location in the southern hemisphere, a strong platform for research training, and strong technical expertise."

A close up view of USA and Australian flags on flagpoles with the sunset in the background.

Australia and the United States form clean energy alliance

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Australia and the United States have signed a landmark bilateral agreement to combat the climate crisis and promote clean energy solutions. The Climate, Critical Minerals and Clean Energy Transformation Compact creates opportunities for collaboration in responsible clean energy supply chains, critical minerals, emerging battery technologies, and clean hydrogen markets. The agreement establishes climate and clean energy as a “central pillar” of the Australia-United States partnership, both countries said. It establishes a dedicated forum on clean energy industrial transformation through which both countries will coordinate supply chain strategies and develop an action plan by the end of 2023. A ministerial-level taskforce on critical minerals will engage with key stakeholders across industry and government to enhance responsible access to critical minerals for clean energy technologies.


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Watch to find out more about our thriving industries and superstar innovators.

Circular Economy in Australia

Australia is committed to becoming a circular economy. Veolia Australia & New Zealand CEO Richard Kirkman outlines our natural advantages – from our R&D talent to the space and renewable energy to power factories that can turn recycled materials into innovative products.

AgriFood Technology in Australia

Australia’s reputation for quality and our supportive innovation ecosystem help make us a compelling destination for agritech investment.

Agrifood technology in Australia

Australia has a reputation for clean, green and safe produce and a thriving export market. With a strong R&D ecosystem and government support, it makes us a compelling destination for investors and innovators in agrifood technology.
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Critical Minerals in Australia

Dr Kymberly Talbot from lithium-ion battery developer Feline highlights some of the country’s key competitive advantages.

Charts & infographics

View and download infographics, charts, tables and other data assets from the Why Australia Benchmark Report 2023.

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