The Australian government through the Department of Industry, Science, Energy and Resources has announced the country’s first Low Emissions Technology Statement.
The Technology Investment Roadmap is a framework to prioritise the government’s investment in new and transforming technologies.
The framework will help Australia to attract new investments, strengthen the economy and create jobs.
The roadmap has five priority areas namely clean hydrogen, energy storage, low carbon steel and aluminum, carbon capture and storage and soil carbon.
The plan will help create export opportunities while reducing greenhouse gas emissions.
The plan will be updated each year with the help of industry stakeholders, the private sector and government agencies.
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The plan sets out:
- Priority technologies and economic stretch goals
- Australia’s big technology challenges and opportunities
- Technology Investment Framework
- Monitoring, transparency and impact evaluation
ARENA CEO Darren Miller said the agency looks forward to contributing to the goals and opportunities outlined in the first Low Emissions Technology Statement.
“There are a number of priority technology stretch goals and emerging and enabling technologies outlined in the Low Emissions Technology Statement where ARENA can hit the ground running and build on our considerable body of work and knowledge. Continuing this momentum is important for the market and for the Australian economy.
This follows the government announcing $1.62 billion in funding to support the plan through ARENA.
“We look forward to building on a strong project portfolio and established stakeholder relationships to help unlock the next generation of low emission technologies,” reiterated Miller.