The Ontario government is establishing a Hydrogen Innovation Fund that will invest C$15 million (US$11.2 million) over the next three years to kickstart and develop opportunities for hydrogen to be integrated into Ontario’s clean electricity system, including hydrogen electricity storage.
According to the Ontario Energy Board, hydroelectric power produced 23.3% of the electricity generated in the province in 2021.
The government said this launch marks another milestone in implementing the province’s Low-Carbon Hydrogen Strategy, positioning Ontario as a clean manufacturing hub.
“The Hydrogen Innovation Fund will help to lay the groundwork for hydrogen to contribute to our diverse energy supply, supporting game-changing investments in electric vehicle production, green steelmaking and clean manufacturing that will create good paying jobs, grow our economy and reduce emissions,” said Todd Smith, Minister of Energy.
