Andrew Forrest

Newly appointed CEO of Fortescue Future Industries Mark Hutchinson has made it clear that demand for green hydrogen has already far outstripped the company’s upcoming 2 GW electrolyser factory in Gladstone, Queensland. The announcement of new investments in green hydrogen plants from Fortescue Future Industries is now expected in the near future.

Iron ore magnate Andrew Forrest’s Fortescue Future Industries has purchased three cattle stations in Western Australia’s northwest on which it plans to construct a renewable energy hub to both decarbonise its mining business and export green hydrogen and green ammonia.

The deal between Fortescue Future Industries and E.ON, one of Europe’s largest energy network operators, will see the Australian company deliver five million tonnes of green hydrogen to Germany, the Netherlands and other European cities by 2030. “For us, it’s a minimum $50 billion expenditure. And that is one I welcome,” Fortescue founder Andrew Forrest said at press conference in Berlin overnight.

The Suiso Frontier cargo vessel docked at Victoria’s Port of Hastings on Friday to take on the world’s first shipment of liquid hydrogen. The ship’s arrival is a landmark for the Japanese-Australian Hydrogen Energy Supply Chain pilot project, which sees liquefied hydrogen generated from brown coal, and an engineering milestone in itself. But while the Australian government describes the product as “clean”, experts maintain that carbon capture and storage technology has proven only to be an expensive failure.

Iron ore giant Fortescue Metals Group has brought forward its net zero emissions target a decade to 2030 by advancing a raft of green hydrogen and ammonia projects. The mining company believes it’s green energy ambitions will demonstrate how the two “missing links” in the battle against climate change can decarbonise supply chains.

Fortescue Metals Group Chairman Andrew ‘Twiggy’ Forrest returned to Western Australia last week after a 4-month worldwide search for green energy projects and resources. One of the deals secured on the trip was a circular partnership with South Korean steelmaker Posco. The deal sees Fortescue supply Posco with iron ore, Posco use said ore to make steel, and Fortescue use said steel for renewable energy projects to make green hydrogen.

In its formal bidder’s statement, Philipines UAC Energy has urged Infigen shareholders to accept its takeover bid of $0.80 a share, while Infigen remained adamant no action should be taken in relation to the “opportunistic” offer. Previously, the acquisition of another prominent renewables developer, Windlab, was greenlit in a landslide shareholder vote.