Former federal trade minister Andrew Robb joins hydrogen venture builder United H2 board

In joining venture builder United H2’s board, Andrew Robb says there are risks to hydrogen’s energy potential by forcing a rapid implementation of green infrastructure before the market is ready.

Former trade minister Andrew Robb has warned of risks to hydrogen’s energy potential in forcing the “rapid implementation” of green infrastructure without assessing market readiness, as he joined the board of 2025 ASX candidate United H2.

Asked about companies, including Fortescue and Origin Energy, winding back their ambitions in green ­hydrogen and the federal government’s policy settings, Mr Robb said: “Government subsidies play an essential role in advancing clean energy tech­nologies, but forcing the rapid implementation of infrastructure without considering market readiness risks undermining hydrogen’s potential in the medium term.

“To this end, maintaining a strong economy with cheap, reliable domestic gas is critical to financially supporting the measured development of renewables, such as hydrogen.

“The shift to clean energy must be pragmatic, balancing ambition with practicality.”

The Albanese government’s Future Made in Australia package includes support for investment in renewable hydrogen through a tax incentive estimated to cost the budget $6.7bn over 10 years. It is pegged at $2 per kilogram of eligible hydrogen produced, provided as a refundable tax offset.

However, in October Origin Energy scrapped plans for an investment in a hydrogen hub in NSW’s Hunter Valley, citing the questionable economics of clean hydrogen projects.

In joining the board of United H2, Mr Robb is backing hydrogen as a future energy source, saying it could “redefine global energy ­systems”.

“Hydrogen is the only viable solution to replace diesel and coal in heavy industries where batteries simply cannot meet the energy density and operational requirements,” he said.

“From mining and transport to large-scale manufacturing, hydrogen offers a clean, scalable alternative.”

Former Liberal federal minister Andrew Robb. Picture: Arsineh Houspian

United H2 is a holding company, essentially a hydrogen venture builder, which is developing 14 businesses in the sector from production through to end use.

The company’s stable of investments includes companies that have developed a hydrogen-powered pick-up truck and a hydrogen injection system that lowers the emissions of diesel engines. Another investment centres on a waste-to-hydrogen production plant that draws on contaminated plastic. Green hydrogen – which draws on renewable energy – is just one type that is being assessed as part of a transition to cleaner forms of energy. Some industry participants are pushing into blue hydrogen, which draws on fossil fuels and is linked to carbon capture and ­storage.

United H2 – whose stakes in its stable of companies give it a valuation of about $77m – has lodged an in-principal application with the ASX for an initial public offering, slated for April. The company plans to this month appoint an investment bank to manage the listing ahead of lodging a prospectus in March.

The IPO valuation will be based on the company’s financial accounts for the year ended December 31.

Mr Robb’s other board commitments include serving as a director at Gina Rinehart’s Kidman cattle enterprise, Mind Medicine Australia, CLARA Energy, building materials group CBMA, and New York and ASX-listed Tamboran Resources.

His appointment sees another IPO candidate or public company opt for a former politician or government minister to fill out its board. Biotech HaemaLogiX in May announced former health minister Greg Hunt had joined its board, ahead of the company preparing a 2025 ASX listing.

Former defence minister Christopher Pyne is on the board of ASX-listed defence firm HighCom, while former prime minister Tony Abbott is a board director of Lachlan Murdoch-led Fox Corporation. Mr Murdoch is also chairman of News Corporation, publisher of The Australian.

United H2 chief executive Will Davidson said the company was attracted to Mr Robb due to his ability to forge global partnerships and his knowledge of international trade, investment, agri­cultural science and economics.

Mr Davidson said proceeds from the mooted IPO would fund the capital needs of United H2’s investments.

He noted the 2025 federal election would not have a large bearing on the company’s plans, given it could work with either political party. If there was to be a push into nuclear energy as proposed by the Coalition, Mr Davidson said: “We are agnostic to that.”

He said while it would take some time to develop a domestic nuclear industry, the United H2 ventures could eventually draw on pink hydrogen – hydrogen made with nuclear energy.

United H2 in September appointed entrepreneur Mark Bouris to its board, which is chaired by Kathryn Giudes, a former Microsoft senior director and managing director of macro­DATA Digital Solutions. Mr Bouris was the founder of Wizard Home Loans which he sold for to conglomerate General Electric, but he has struggled to get traction at now privatised Yellow Brick Road.

Originally published as Former federal trade minister Andrew Robb joins hydrogen venture builder United H2 board