Despite its early leadership ambitions, Australia is falling behind in the global hydrogen economy, with 80% of its low-carbon hydrogen projects still in early development and multiple high-profile cancellations, according to new analysis from data and analytics solutions provider Wood Mackenzie (WoodMac).

In a report, ‘How can Australia compete in the global hydrogen market (before it’s too late)?,’ WoodMac highlighted that “while the country boasts world-class renewable energy potential and abundant land, it is struggling to convert those advantages into competitive hydrogen production.”