US, Australia agreed to work together on development of Netzero technology

The Australian and US governments have signed a Netzero Technology Acceleration Partnership to accelerate the development and deployment of zero emissions technology.

Both countries have also agreed to and cooperate on critical minerals supply chains to reduce greenhouse gas emissions.

The partnership will build on long-standing cooperation between the two countries, which share many of the same challenges in decarbonising their respective economies.

Initial areas for cooperation under the partnership include the development of long duration energy storage technology, digital electricity grids and technology to support the integration of variable renewable energy, hydrogen and carbon dioxide removal, including direct air capture.

The partnership also recognised the crucial role more diversified sources of critical minerals will play in the energy transition, extending cooperation to building supply chains integral to the deployment of clean energy technologies. 

Cooperation will be practical, and inclusive of industry, research and the private sector to drive investment, trade and development of commercial opportunities between the countries in low and zero emissions technologies and the critical materials that will drive them.