Andrew Forrest’s big green hydrogen play – Fortescue Future Industries – has been armed with a billion-dollar budget in 2022/23 as it seek to lock down a series of major deals that can lay the groundwork for the company’s hugely ambitious 2030 goals.
Forrest has committed to a stretch target of producing 15 million tonnes of green hydrogen a year by 2030, from a technology that has been barely deployed around the world till now. And despite a whole series of MoUs and project proposals and announcements, little has been set in concrete.
The most tangible asset is the hydrogen electrolyser factory that is being built in Gladstone, Queensland, in partnership with the US-based Plug Power, and captures both the soaring ambition of the group, and the uncertainty.
It will be the biggest factory of its type in the world, and will in effect double global production when it reaches…
FFI armed with billion-dollar budget as it seeks to lock down Forrest’s green hydrogen deals
