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Climate Change

Australia's energy and iron ore producers bet big on hydrogen

Woodside and Fortescue jump on global decarbonization bandwagon

An iron ore mine in Western Australia: The country's energy and mining companies are looking urgently for new sources of revenue amid the global push to decarbonize.    © Reuters

SYDNEY -- Australia's Woodside Petroleum and Fortescue Metals Group are working to commercialize hydrogen production as they try to find new sources of revenue amid growing global momentum for decarbonization.

Demand for hydrogen is set to grow. It is seen as a clean form of energy that does not emit carbon dioxide when burned. It still poses a challenge for use as an energy source, however, as CO2 is emitted when it is derived from natural gas or other sources.

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