The Regional Infrastructure Fund will provide $15 million for a new facility in Southland to produce critical minerals and hydrogen, Regional Development, Resources, and Associate Energy Minister Shane Jones says.<\/p>\n
\u201cThe Coalition Government is supporting Aspiring Materials Limited with funding to develop a $31m commercial-scale plant that will bring its world-leading technology to market,\u201d Mr Jones told a hydrogen sector hui in Christchurch today.<\/p>\n
The company has developed a patented process that produces green hydrogen while separating valuable minerals from quarry waste.<\/p>\n
\u201cIt is home-grown technology with the potential to produce green hydrogen while undertaking the business\u2019s core task of creating value from critical minerals and essential materials that are used daily across Kiwi industries,\u201d Mr Jones says.<\/p>\n
\u2018Green\u2019 hydrogen is produced by electrolysis, a process that uses electricity to split water into hydrogen and oxygen. Hydrogen is considered ‘green’ when the electricity used is from renewable sources.<\/p>\n
\u201cThis funding is from $80 million ringfenced in the Regional Infrastructure Fund (RIF) for critical minerals projects. It shows the Government is pulling as many levers as it can to boost economic development. Hydrogen can be part of a broader industrial opportunity for New Zealand,\u201d Mr Jones says.<\/p>\n
The Government has already signalled its support for hydrogen development through the Hydrogen Action Plan.<\/p>\n
\u201cNew Zealand needs a range of energy solutions to support economic growth and improve resilience,\u201d Mr Jones says.<\/p>\n
\u201cHydrogen has the potential to play an important role in reducing emissions in parts of the economy where electrification isn\u2019t the best option.<\/p>\n
\u201cThis could be in heavy transport where the range and weight of a battery can be a problem, and heavy industry such as where specific chemical reactions or high temperatures are needed,\u201d Mr Jones says.<\/p>\n
The $15 million RIF investment for Aspiring Materials will be a mix of loan and equity, with details still to be finalised.<\/p>\n
\u201cThis project combines energy innovation, advanced manufacturing and New Zealand expertise in a way that could create value across multiple sectors and support the development of new energy industries.<\/p>\n
\u201cThis is about positioning New Zealand \u2013 and especially our regions \u2013 to take advantage of emerging opportunities to strengthen our energy sector and support new technologies and resources that will play an important role in our future economy,\u201d Mr Jones says.<\/p>\n","protected":false},"excerpt":{"rendered":"
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