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Fortescue's FFI working to lower the cost of its hydrogen

8th September 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Iron-ore major Fortescue Metals is working to reduce the cost of its green hydrogen, Fortescue Future Industries (FFI) hydrogen technology lead Rachelle Doyle said.

Speaking at the Hydrogen and Mines virtual summit, Doyle noted that in line with Fortescue’s core values and stretch targets, the company is planning to significantly reduce the capital intensity of its renewable energy and green industry projects to ensure it is the world's lowest cost producer of renewable green hydrogen.

“Working with our stakeholders, we're assessing a range of technology routes with an initial focus on green ammonia and liquid hydrogen. At FFI, we're taking a global leadership position in the green energy, and green products industry by harnessing the world's renewable energy resources to produce green electricity, green hydrogen, green ammonia, and other green industrial products. We know renewable green hydrogen is the cleanest source of energy in the world, and that it has the potential to replace up to three-quarters of the global emissions if we improve this technology, and deploy it at scale.”

Doyle said that FFI would maintain Fortescue’s disciplined approach to capital allocation. Individual projects will be developed by FFI with ownership and project finance separately secured without recourse to Fortescue.

“We are currently advancing projects across Australia, including in the Pilbara and Tasmania, to build large scale renewable energy and green hydrogen production facilities, as well as assessing a portfolio of hydropower, geothermal, wind, and solar assets globally. Already, FFI has identified projects in renewable energy, and green hydrogen that could lead to some 300 GW of power.”

FFI’s first hydrogen production facility is under construction, with 1.5 MW of electrolysis to be installed at the Christmas Creek mine site to provide fuel to 10 coaches that will transport the workforce. From there, FFI is also developing the 250 MW Tasmania project.

“These initiatives have, as I said, all been tested for askew using commercial scale equipment that proves the demand for direct green electricity, green hydrogen and green ammonia could one day be as large as the fossil fuel industry.

“FFI is studying and optimizing a portfolio of hydropower, geothermal, wind and solar resources globally with sites targeted in North America, Latin America, Europe, Central Asia and Russia, Middle East and North Africa, Africa, Southeast Asia, and Australia, New Zealand.

“Zero emissions energy needs to be available on an industrial global scale, and it needs to be at a price point that competes with fossil fuels. That's when the world will be able to begin the journey to becoming zero carbon. Our vision is to make renewable green hydrogen the most globally traded stable commodity in the world. We have announced our plans to produce 15-million tonnes of green hydrogen by 2030. This will enable us to decarbonize our existing mining operations, and enable green industries on a global scale. We know there will be many key markets for green hydrogen in the coming decades, and by building on Fortescue’s existing supply chain capabilities and market access, we see an exciting opportunity to participate in and be at the forefront of developing an export market for green hydrogen.

“We're confident through the programmes we have in place, that we'll be able to deliver the carbon neutral target by 2030 for our iron-ore business, and that we will be able to succeed in delivering a green industry for the future,” Doyle said.

Edited by Creamer Media Reporter

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