SYDNEY -- Australia's Queensland state government said on Monday it will halt further investment in a hydrogen project that includes Japanese trading house Marubeni, amid mounting headwinds against renewable energy worldwide.
Marubeni, Japanese gas company Iwatani, Singapore's Keppel and Stanwell -- an energy company owned by Queensland -- are among those that planned to produce 70,000 tonnes of green hydrogen a year by 2028. Green hydrogen is produced using renewable energy to split water molecules, and it does not emit carbon dioxide when burned.
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