The German-Australian Chamber of Industry and Commerce (AHK Australien) today announced that Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) will join the German-Australian Hydrogen Alliance as the inaugural Presenting Partner.
The Alliance, which launched in November 2020 and is headed by AHK Australien, functions as an important platform for exchange between Australian and German stakeholders, informing and driving forward activities, approaches, and importantly coordinating activities with a bilateral background.
Daniel Schmand, Global Head of Trade Finance & Lending and Institutional Cash Management at Deutsche Bank, said: “Establishing partnerships is key in order for Germany to execute its ambitious National Hydrogen Strategy and as a global bank, we have an important role to play in helping to bring together key international industry players. With the significant opportunity present in Australia’s hydrogen sector, we are delighted to join as a presenting partner of this Alliance, once again cementing Deutsche Bank’s leadership in sustainable finance globally.”
With Germany’s aim to reach net-zero emissions by 2045 and Australia’s potential to create a significant green hydrogen export industry, both countries have executed a formal energy co-operation agreement. Building on long-standing trade relationships, the bilateral hydrogen business is actively supported by both governments.
Peter Connor, Head of Corporate Bank for Australia at Deutsche Bank, said: “As a leading international bank for ESG solutions in Australia, we leverage our global network and expertise to help clients execute their own sustainability strategies. For us to achieve this, we must play a role in helping to develop and drive investments into emerging sectors and we are delighted to be doing just that with the German-Australian Hydrogen Alliance, in partnership with AHK Australien.”
Australia offers an immense potential for hydrogen production from renewable sources, whereas Germany can function as a technology provider, especially in the provision of competences, in order to promote electrolysis technologies and sector coupling in Australia. In return, Australia can serve not only the local, but also the international hydrogen market and, as an export nation, is well placed to meet the large demand for hydrogen in Germany to decarbonise its industry.
Christoph von Spesshardt, Chief Executive Officer of AHK Australien, said: “In this pivotal time of restructuring how the world sources its energy for a sustainable and prosperous future, we thankfully welcome Deutsche Bank as the inaugural presenting partner of the German-Australian Hydrogen Alliance. We founded the Alliance to maximise the unparalleled potential of German hydrogen technology know-how and Australia's wealth of renewables and resources, to firmly position both countries as catalysts for a net-zero future.”
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About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
In Australia, Deutsche Bank has been helping clients achieve their goals since 1973, combining deep local expertise with the banks strong international network to provide innovative and sustainable solutions across investment banking, corporate banking and asset management. Learn more about Deutsche Bank Australia here: https://country.db.com/australia/index?language_id=1
About German-Australian Chamber of Industry and Commerce
The German-Australian Chamber of Industry and Commerce (AHK Australien) is the primary contact for all bilateral business matters. With offices in Sydney and Melbourne and strong links to the German Chamber of Industry and Commerce (DIHK), the AHK Australien has successfully fostered the trade and industry partnership between both countries for over 40 years. Recently, the AHK Australien, as the first AHK Worldwide, has adopted its new strategy aimed at spearheading its efforts in four distinct industry clusters to streamline AHK's work on policy and trade development in identified high-potential industries: Health, Energy, Food and Beverage, Mining and Resources.
The Chamber is a member organisation for German and Australian companies. As part of a global AHK network, AHK Australien is also the official representation of German companies in Australia and cooperates with potential partners to develop market-entry strategies. AHKs are the key players of German foreign business development on behalf of the Federal Republic of Germany. The AHK Australien is supported in part by the German Federal Ministry for Economic Affairs and Energy based on a decision of the German Bundestag. More at https://australien.ahk.de/en/.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2020 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.