When you're starting to develop a new industry like green hydrogen, you really need the support of government. Once we start to make this product, we will make it cheaper, more efficient and quicker.
It's important to push this investment now, because the history of businesses and economies has shown that [Technical difficulty—Editor] clean energy hub is where you tend to get more investment over time. We have an opportunity today to really place Canada at the centre of this new industry. It's very supported by critical minerals, clean energy and decarbonization. Going forward, you will see companies attracted to the region because they will want clean green hydrogen to make all kinds of products: chemicals, steel, etc. Now is the time.
Developing these projects is like a freight train. It requires so much coordination and so much effort. You've seen a few proponents step forward and really take the risk on bringing these businesses to life. The decision today from Newfoundland is really welcome. It shows Canada being supportive and a real leader in this space. Now is the time.