$20M hydro-energy plant to boost local job market
SPRINGFIELD will soon become a frontrunner in hydrogen energy after it was revealed a new $20 million facility is set to be developed in the Queensland's southeast.
Developers Springfield City Group this week announced the ambitious plan, promising in return a $30 million annual revenue for the area and at least 50 new jobs.
Chairman Maha Sinnathamby said about 40 hectares of land had already been set aside at Vicinity business park for the plant.
He said works were expected to commence towards the end of the year.
It is due to be complete in early 2022 in partnership with Sydney-based tech outfit LAVO as part of a Memorandum of Understanding.
"LAVO has the first and only commercial-ready hydrogen energy storage system in the world designed for everyday use by residential homes and businesses," Mr Sinnathamby said.
He said he looked forward to utilising the company's expertise to deliver long-term on blueprints for a "clean-green future."
"We will work closely with LAVO to identify co-development opportunities, including the integration of LAVO technology into utility scale solar farms developed in Springfield City."
The demand for hydro-energy technology is reportedly on the rise.
Investments are forecast to increase from about US$150 billion annually to more than US$2.5 trillion by 2050.
"LAVO's technology has a storage capacity three times greater and a lifetime more than two times longer compared to market alternatives," he said.
Mr Sinnathamby said the focus on hydrogen energy production was crucial to help further support Springfield's predicted population boom over the next two decades.
"We have one chance - and the responsibility to our residents both now and into the future - to get this right and be an ongoing exemplar for others to follow," he said.
Under the green strategy, about one-third of Springfield would become dedicated "green space", while residents would have access to electric vehicle charging stations.
A hydrogen bus network was also proposed.
LAVO CEO Alan Yu said he was excited to commence work on the project.
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