$117 million invested to fund further development of the Central Queensland Hydrogen project in Gladstone.
A record investment of close to $117 million will be invested to fund further development into the Central Queensland Hydrogen (CQ-H2) project in Gladstone. This will be the largest investment towards a renewable hydrogen project of its kind. This investment will assist in bringing the project one step closer to a final decision which is planned for 2024. The project is expected to create around 9,000 new jobs at its peak and deliver $17.2 billion in hydrogen exports over its 30-year life whilst benefiting local service industries. The Australian Renewable Energy Agency (ARENA) has approved funding $20 million; the Palaszczuk Government is investing $15 million, and the remainder will be funded by companies that are passionate about green hydrogen. CQ-H2 is expected to produce around 800 tonnes per day of green hydrogen by the early 2030s. The project will complement the hydrogen industry within the Gladstone region and unlock economic opportunities by creating thousands of new local jobs.
Read the media statement here