Fortescue to sell green hydrogen to Germany

Rendered image of hydrogen molecules (hydrogen rules)
Image: Shutterstock

Fortescue Future Industries (FFI) says it intends to sign a long-term deal to supply Germany’s Covestro AG with “green hydrogen” and its derivatives, Reuters reports.

Fortescue Future Industries will supply the chemicals maker with the equivalent of up to 100,000 tonnes of green hydrogen per year once the deal is formalised.

Related article: Fortescue designs and builds its own electrolyser

“This collaboration reinforces that green hydrogen is a practical, implementable solution for a range of difficult-to-decarbonise industries,” Fortescue Future Industries CEO Julie Shuttleworth said.

Under the deal, green hydrogen will potentially be supplied to Germany’s Covestro in Asia, North America and Europe from 2024 onwards.

Fortescue, which aims to become carbon-neutral by 2030, has signed a string of projects through Fortescue Future Industries over the past year to underline its push to transition from a pure-play iron ore producer to a green energy firm.

Related article: AGL and Fortescue to turn coal plants into green hydrogen hub

Fortescue Future Industries expects to spend between $400 million and $600 million this financial year to develop green trains, trucks and shipping, as well as decarbonisation technologies.

It also expects to expand its green hydrogen production to 15 million tonnes per year by 2030.

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