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Title:FFI signs $80m research deal in US – “now the best place for green hydrogen investment”

News and analysis for the clean energy economy

Andrew Forrest’s Fortescue Future Industries has announced a partnership with the US Department of Energy’s National Renewable Energy Laboratory that will see it back NREL research projects to the tune of $80 million over up to 10 years.

“NREL’s dream is to have its green technology commercialised. Our dream is to commercialise their green technology,” said “Twiggy” Forrest on Thursday at a signing ceremony for the new collaboration, which will initially span three years.

A good chunk of the millions from FFI will no doubt back research to fast-track technology around green hydrogen production and transport, a major focus of FFI’s green global domination strategy, which also targets complete decarbonisation of the company’s own Scope 1 and 2 emissions by 2030.

On that goal, Forrest’s Fortescue Metals Group revealed this week it would spend a whopping $A9.2 billion – most of it in the next four years – including on the deployment of an additional 2-3GW of wind and solar generation and battery storage.

FFI has also set itself an even more ambitious target of delivering 15 million tonnes of green hydrogen a year by 2030, although the company is yet to fill in the details of how exactly that will be done.

Andy Vesey, Fortescue’s head of North America, says the company’s US arm is currently examining capability at national scale for solar, battery and electrolyser manufacturing in America – efforts it hopes to boost through “deep integration” into the US science and technology community.

“America is now the best place for green hydrogen investment,” Vesey said on Thursday. “This will create and save jobs for Americans and reduce emissions.”

NREL Laboratory director Martin Keller says his organisation is continually seeking partners that share its goal of bringing “lowest-emissions” energy technologies to market.

“We know that the swiftest...

Date Added:9/23/2022 6:38:55 AM