Unlocking Asia-Pacific as a First Mover 2025

36. Sources: – Energy Connects. (2025). US Green Steel Startup Raises $129 Million Amid Trump Tariff Uncertainty. https://www.energyconnects.com/news/renewables/2025/april/us-green-steel-startup-raises-129-million-amid-trump- tariff-uncertainty/. – Metal Tech News. (2025). Colorado-based Electra considers building its first commercial-scale plant in Australia . https://www.metaltechnews.com/story/2025/04/30/tech-bytes/us-green-steel-startup-seeks-long-term-stability/2260. html. 37. The listings in the First Movers Coalition First Suppliers Hub (FSH) currently meet or are working to meet the thresholds established in the FMC commitments. A number of entries from Australia were identified through the global Near Zero Steel Challenge, jointly implemented by FMC and Greenhouse with support from partners BCG, Deloitte, ResponsibleSteel and RMI. For more information, see: First Movers Coalition. (2024). FMC announces 17 Top Innovators from enabling technologies steel challenge. https://initiatives.weforum.org/first-movers-coalition/near-zero-steel- challenge. 38. Department of Climate Change, Energy, the Environment and Water, Australian Government. (2025). Net Zero. https://www.dcceew.gov.au/climate-change/emissions-reduction/net-zero. 39. Department of Industry, Science and Resources and Department of Climate Change, Energy, the Environment and Water, Australian Government. (2025). Industry Sector Plan September 2025. https://www.industry.gov.au/sites/default/ files/2025-09/disr-industry-sector-plan.pdf. 40. Ministers, Treasury Portfolio, Australian Government. (2024, 14 May). Investing in a Future Made in Australia [Press release]. https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/investing-future-made-australia. 41. Australian Government. (2024). Budget 2024-25: A Future Made in Australia [Fact Sheet]. https://archive.budget.gov. au/2024-25/factsheets/download/factsheet-fmia.pdf. 42. The Treasury, Australian Government. (2024). Future Made in Australia. https://treasury.gov.au/publication/p2024- 526942. 43. Department of Industry, Science and Resources, Australian Government. (2025). Further commitment to a greener Future Made in Australia. https://www.industry.gov.au/news/further-commitment-greener-future-made-australia. 44. Department of Industry, Science and Resources, Australian Government. (2025). Green Iron Investment Fund – National Development Stream. https://business.gov.au/-/media/grants-and-programs/green-iron-investment-fund-national- development-stream/green-iron-investment-fund---grant-opportunity-guidelines-pdf.pdf . 45. Department of Climate Change, Energy, the Environment and Water, Australian Government. (2024). Hydrogen Headstart program. https://www.dcceew.gov.au/energy/hydrogen/hydrogen-headstart-program. 46. Department of Industry, Science and Resources, Australian Government. (2025). Net Zero Fund: proposed design. https://consult.industry.gov.au/net-zero-fund. 47. Government of South Australia. (2024). South Australia’s Green iron and steel strategy. https://www.energymining. sa.gov.au/__data/assets/pdf_file/0010/1017829/South-Australias-Green-iron-and-steel-strategy.pdf. 48. Prime Minister of Australia. (2023, 25 September). Port Bonython Hydrogen Hub to boost Australia’s hydrogen industry [Press release]. https://www.pm.gov.au/media/port-bonython-hydrogen-hub-boost-australias-hydrogen-industry. 49. Government of South Australia, Energy & Mining. (2025). Leading the green economy. https://www.energymining.sa.gov. au/industry/hydrogen-and-renewable-energy/leading-the-green-economy. 50. Government of South Australia. (2024). Hydrogen and Renewable Energy Regulations 2024. https://www.energymining. sa.gov.au/public-consultations/recent-consultations/hydrogen-and-renewable-energy-act. 51. Parliament of Western Australia, Hansard: Legislative Assembly. (2025, 10 September). State Development Bill 2025. https://www.parliament.wa.gov.au/hansard/daily/lh/2025-09-10/10. 52. Government of Western Australia. (2024, 9 May). $500 million fund to unlock industrial areas and create future jobs [Press release]. https://www.wa.gov.au/government/media-statements/Cook-Labor-Government/%24500-million-fund- to-unlock-industrial-areas-and-create-future-jobs-20240508. 53. Lowrey, T. (2025). Federal government ‘surprised and disappointed’ by Queensland decision to end support for hydrogen project. ABC News. https://www.abc.net.au/news/2025-02-04/bowen-disappointed-as-queensland-pulls-hydrogen- funding/104893618. 54. The Australian National University and Curtin University, Heavy Industry Low-carbon Transition Cooperative Research Centre (HILT CRC). (2025). RP3.004: Economic and Emissions Analysis of Australia-China Green Steelmaking Value Chains, Policy brief. https://hiltcrc.com.au/wp-content/uploads/2025/09/HILT-CRC-RP3004-policy-brief-final-20250829_ web.pdf. 55. Government of Western Australia. (2024). WESTERN AUSTRALIA IRON ORE PROFILE – May 2024. https://www.watc. wa.gov.au/media/wxehzmmd/wa-iron-ore-profile-may-2024.pdf. Unlocking Asia-Pacific as a First Mover: Australia’s Green Iron Opportunity 54