Fortescue Future Industries chief Mark Hutchinson says his Gladstone electrolyser factory has “the best economics” and has challenged his former partner in the project to “bring it on” if they think they can do better elsewhere.
Dr Hutchinson said Plug’s withdrawal from the project would not affect the delivery schedule. The project is expected to produce its first electrolysers this year. “I believe we can get the best economics out of our electrolyser facility, Andy [Marsh] has a different view, that is fine, so bring it on.”Although the Gladstone factory will produce the electrolysers that underpin Fortescue’s hydrogen business, Dr Hutchinson said the company’s demand for electrolysers would be so great that it would still buy off the shelf from companies such as Plug.
Dr Hutchinson said FFI would take a final investment decision on five clean energy projects this year, and one of them was likely to be theThe other four will be outside Australia and the strong incentives for hydrogen in US president Joe Biden’s Inflation Reduction Act are likely to ensure that at least one of the five projects is in North America., which will require the nation’s 215 biggest emitters to reduce emissions by about 4.9 per cent a year.
Fortescue executive chairman Andrew Forrest reiterated his desire for the company to also diversify into the minerals required for decarbonisation, particularly copper and rare earth elements.
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