- 3 April 2024
- Posted by: Canberra Innovation Network
- Categories: Feature, General News
As the ACT transitions to net-zero emissions by 2045, Canberra’s strong and vibrant energy innovation and start up culture is well placed to help reach this target.
HYREA, a Canberra-based technology pioneer working to make green hydrogen a viable alternative to fossil fuel, is contributing to this goal with the help of the ACT Government’s Energy Innovation Fund (the Fund).
Since 2016, the Fund has invested $12 million in energy innovations and has been instrumental in growing the renewable energy sector in the ACT. In March this year, another $17 million in grants was made available through the Fund.
The grants will help develop innovative, emerging energy technologies and solutions to support the net zero transformation, like that currently in development by HYREA.
“Green hydrogen has many benefits – it is made via renewable energy, is versatile in its application, and the only by-product is water. However, challenges with storage and transportation of hydrogen have prevented its mass adoption,” explains co-founder Andrey Turenko.
HYREA is addressing these challenges head-on.
With their technology, team members Vladlen Shvedov, Ilya Shadrivov, and Andrey can now produce green hydrogen on-site and on-demand from water and other quite specific materials, eliminating storage and transportation challenges.
“This breakthrough has the potential to revolutionise various industries, particularly those traditionally reliant on fossil fuels and many facing difficulties in transitioning to sustainable alternatives,” says Andrey.
Once fully mature, the technology has the potential to decarbonise many hard-to-abate industries. An increased presence of green hydrogen-powered trucks, buses, and heavy vehicle industries will set the stage for a cleaner and more sustainable future in Canberra and beyond.
HYREA successfully applied for and received an Energy Innovation Fund Grant of $253,552. This enabled them to develop a proof-of-concept hydrogen fuel-cell electric boat, with onboard and on-demand green hydrogen production facilities.
“The grant has been instrumental in our journey to bring our green hydrogen technology out of the lab and into the real world,” explains Andrey.
With help from the grant, HYREA has completed most of the engineering and design work for the boat, procuring necessary equipment, and delivering the prototype boat.
“The progress made, marks a substantial step forward in our mission to demonstrate the viability and effectiveness of on-site and on-demand green hydrogen production.
“For HYREA, it was more than just the engineering and design work; the grant provided invaluable connections, particularly with local engineering firms and the broader university sector. These connections have been integral in refining our approach and leveraging expertise from diverse fields,” Andrey explains.
So why did the team choose Canberra?
HYREA strongly believes that Canberra has all the right ingredients to help its business grow.
“As a rapidly growing city, Canberra offers abundant opportunities for innovation, particularly in energy technology. The ACT Government’s commitment to improving and decarbonising energy use aligns with our mission, providing a supportive environment for our work,” says Andrey.
With world-leading academic institutions and an environment that allows us to foster connections, Canberra is a one-stop shop.
“Canberra houses world-leading academic institutions and an advanced engineering industry, offering invaluable resources and expertise. Collaborating with these institutions and industries enriches our research and development efforts, facilitates knowledge exchange, and fosters advancements in our field. Additionally, Canberra is a strategic hub, granting us access to the right people and fostering connections that drive our business forward.”
The Energy Innovation Fund presents a unique opportunity for organisations to tackle energy challenges in novel and impactful ways.
“The grant offers more than just financial assistance; it represents an opportunity to make a tangible impact on the energy landscape while receiving the necessary resources and guidance to succeed,” explains Andrey.
When asked how the experience was to apply, Andrey said, “the ACT Government is great to deal with. The team behind the grant is knowledgeable, supportive, and easy to engage with. The support they provide facilitates the application process and fosters a collaborative environment conducive to innovation and progress.”
The HYREA team encourages organisations interested in driving change and pioneering sustainable solutions to consider applying for the grant to unlock new possibilities and contribute to a cleaner, greener future.
“Our advice would be to consult as widely as possible with industry, customers, academia and government to validate your idea,” says Andrey. “Not only will this strengthen your case (as it shows you’ve done your due diligence), but you will also gather supporters for your application and valuable future partners.”
The team at HYREA is keen to raise awareness of their company, so if you’d like to learn more, connect with them.
The first assessment deadline for the Energy Innovation Fund grants is just around the corner closing on Tuesday 30 April 2024!
If you want to be like HYREA and change the world through your energy innovation, apply now!