Dual Olympian goalkeeper Joel Dennerley led the way, with his exceptional skills during a penalty shootout crucial to a historic victory for the Aussie Sharks.
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This is the first time that the Australians have made the gold medal final of the FINA World Cup.
Australia meets European heavyweights Hungary in the final tonight at 10.30pm (AEST).
The thrilling semi-final victory went to the penalty shootout after scores were tied up at the end of regular time.
The Sharks started the contest in a flurry with the Aussies scoring three times through Joe Kayes and captain Aaron Younger (with two goals) to put them ahead 3-2 at the end of the first period.
But Germany settled and levelled the scores 4-4 at halftime. Nothing was able to separate the two teams in the third, with scores locked at 7-7 at the final change.
Nathan Power gave the Aussies the early ascendancy in the final period, but with just over a minute remaining of regular time the Germans converted to see the match end 8-8 at full-time.
But it was there that Dennerley stamped his authority on the game with three big saves.
It was then left to final shooter Andrew Ford in the best of five attempts at goal to find the mark and send Australia to its first ever start in a World Cup final.
An elated head coach Elvis Fatovic was thrilled his team were able to win a penalty shootout and earn their spot in a World Cup final.
“Finally! I think as a team generally over the last four or five years we have had so many frustrations with penalty shootouts … but finally we get a win,” Fatovic said.
“I’m so proud of the whole team and staff. We really have played as a team at this tournament.
“But we will not finish here. We will try tomorrow (Sunday night) to play the best we can and win this tournament … I believe we have a chance.”
Australia 11 Germany 10
Scores: 3-2; 4-4; 7-7; 8-8; (3-2); 11-10