Promoting the State's renewable hydrogen industry and building new partnerships will be the focus of the first leg of Western Australia's investment and trade mission to South Korea and Singapore.
Hydrogen Industry Minister Alannah MacTiernan will spend three days in South Korea to participate in the 2022 Global H2 Conference and meet with international industry leaders wanting to invest in WA.
The WA Government's participation in the 2022 Global Hydrogen Summit aims to accelerate the State's position in the renewable hydrogen value chain and to advance discussions on green steel proposals.
While in South Korea, the Minister will also visit the Shinincheon Bitdream Fuel Cell Power Plant, which is the world's largest hydrogen fuel cell power plant.
The mission will provide opportunities to attract investment in renewable energy, hydrogen production and downstream processing, including green iron, iron ore and steel, and to learn more about research and development, in particular stimulating domestic demand, fuel cells and steel production.
Strengthening relationships with international renewable hydrogen importers has been a strong focus for the WA Government, which is developing a detailed value chain model to review potential bottlenecks and factors affecting the State's export industry.
Current global demand for hydrogen is estimated at more than 90 million tonnes a year and the value of Australia's low-emissions hydrogen exports could reach $2.2 billion by 2030 and $5.7 billion by 2040.
As stated by Hydrogen Industry Minister Alannah MacTiernan:
"WA and South Korea are a perfect match when it comes to the development of the global renewable hydrogen industry.
"South Korea is seeking hydrogen supply and the decarbonisation of systems, and WA is well-positioned to be an optimal large-scale producer and exporter of renewable hydrogen - together making a complete, stable and secure value chain.
"Senior Korean steelmakers are seriously invested in producing green iron in WA and we want to advance those discussions.
"Throughout my visit to South Korea, I will be meeting with industry leaders to discuss how WA can help our international partners meet their future energy and emission reduction goals."
