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.