A company with the technology to split water into hydrogen and oxygen has been given a state government funding boost to establish its high-tech base in Wollongong.
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AquaHydrex - which explores hydrogen producing cells that could potentially be used as fuel - developed its technology at the University of Wollongong, in partnership with Monash University.
During a visit to the city on Tuesday, NSW Deputy Premier and minister for regional infrastructure and investment Troy Grant announced funding for the company to create a development facility in North Wollongong.
Mr Grant said AquaHydrex had considered setting up in other states or even offshore, but the the government's Regional Industries Investment Fund helped secure it for the Illawarra.
"This government has been conscientious about reinvesting into the regions that are going to keep our economy strong; the Illawarra is one such region," Mr Grant said.
"Labor can be asleep at the wheel; we're prepared to invest in and partner with companies ... who are already partners with so many other wonderful entities in the Illawarra, particularly the University of Wollongong.
"This is an exciting job creator and we're very pleased to be part of it."
The funding amount wasn't disclosed because of the development's commercial nature.
AquaHydrex general manager Paul Barrett described the announcement as an "exciting chapter" for a company that had "come a long way from our roots".
Mr Barrett said AquaHydrex had developed technology that could split water into hydrogen and oxygen in a clean and cost-effective way. "We're developing a device to do that," Mr Barrett said.
"The hydrogen market is pretty big ... it's a multibillion-dollar market so hopefully we'll be tapping into that."
Over the next couple of months a Montague Street warehouse will be transformed into a pilot manufacturing facility using technology from Monash University [and] the University of Wollongong, targeted at the mass production of the device.
Meanwhile, Mr Grant also announced a $500,000 funding injection for the redeveloped Nowra Swimming Centre, which will now have a club house and meeting room added to it.
andrew.pearson@fairfaxmedia.com.au