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Fortescue to Supply Green Hydrogen to U.K. After Deal With JCB

By October 30, 2021December 16th, 2021No Comments

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Fortescue to Supply Green Hydrogen to U.K. After Deal With JCB

Oct 30, 2021 • Bloomberg Green

Australia’s Fortescue Future Industries will become the biggest supplier of green hydrogen to the U.K. after signing a deal with construction equipment company JC Bamford Excavators Ltd. and distributor Ryze Hydrogen

The deal, signed on the eve of the COP26 summit in Glasgow, Scotland, unites two of the industrial world’s highest-profile billionaires, JCB founder and chairman Anthony Bamford and Australia’s Fortescue Metals Group Ltd. founder Andrew Forrest. Jo Bamford, Anthony’s son, is chairman of Ryze.

The agreement could bolster Prime Minister Boris Johnson’s case that the U.K. can make good on its target for net-zero emissions by 2050. And for Forrest, the deal goes a small way to helping his company meet an annual target of 15 million metric tons of green hydrogen production by 2030, rising to 50 million tons in the following decade.

Continue to fulll article on Bloomberg