Australia’s recognition of hydrogen as key to its net zero emissions targets has been confirmed in the Federal Budget.

And when you consider the Government’s desire to make us a ‘renewables superpower’, we think there is only upside for Gold Hydrogen.

One of the key planks in the Future Made in Australia policy is a tax credit scheme for hydrogen production. Mirroring moves in the US and other countries, producers will be paid $2 a kilogram for green hydrogen they make. This will cost in excess of $1 billion a year over the next decade.

Will Gold Hydrogen qualify for the program? We certainly hope so.

What is going to be key is how the policy is framed and the way it defines green hydrogen. If ‘renewable’ hydrogen is the focus, then we will be pushing to be part of the conversation. After all, it looks a pretty sure bet that our hydrogen is constantly regenerating on the Yorke Peninsula, the geological product of iron-rich rocks meeting sea water in the Earth’s core.

In that circumstance, why would the Government not want to support a hydrogen supplier that could produce at up to a sixth of the price of traditional ‘green’ hydrogen from solar, wind and the like? Also consider the resources that go into making all the solar and wind farms, compared to the tiny footprint of our hydrogen wellhead.

AFR coverage of the hydrogen tax scheme is here.

The media has already picked up the upside for companies in the hydrogen sector.

On ABC News, Alan Kohler’s Finance Report highlighted the growth in the share price of companies that could be winners under the tax incentive scheme.

We were one of those displayed on screen…. confirming it’s not just us who see potential for Gold Hydrogen with these subsidies.

ABC coverage here (the hydrogen segment starts at the 1min 23s mark).

More on this as the rules become clearer and we engage with Government over it.

Meanwhile, we continue to wait on more results from our second round of well testing earlier in the year.

We will be back on site in the next 5-6 weeks to start more production flow testing and work has started on pilot production programs.

It’s all coming together nicely for us right now.