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FFI announces $200 million green hydrogen deal

Manufacturing News

Fortescue Metals Group has told the ASX that its Fortescue Future Industries subsidiary has entered a global strategic collaboration with energy infrastructure developer Tree Energy Solutions (TES), aiming to accelerate development of a green hydrogen and green energy import facility in Germany and with a €130 million ($200 million) investment funded from FFI’s unutilised capital commitment.

Fortescue said on Wednesday that the first delivery of green hydrogen into TES’ Wilhelmshaven, Germany terminal is expected in 2026, and initial collaboration projects will be focused on Australia, Europe, the Middle East and Africa.

Under the agreement, FFI’s subsidiary Netherlands Fortescue Future Industries Holdings B.V. will invest €30 million ($46 million) to become a shareholder in Tree Energy Solutions B.V., invest €100 million ($154 million) in constructing the Wilhelmshaven terminal, and be a major shareholder with a 30 per cent stake in Deutsche Grüngas und Energieversorgung GmbH (a subsidiary of TES), the project company that will build the TES Green Energy Hub.

TES is developing a portfolio of terminals globally for moving green energy. 

“From the beginning of FFI, our philosophy was to drive performance across the entire new renewable GH2 value chain while delivering returns to our shareholders,” said Dr Andrew Forrest, Fortescue’s Executive Chairman. 

“This investment reinforces this commitment and is a significant step forward in FFI’s journey to become one of the world’s largest green energy producers.”

Picture credit: Fortescue Future Industries


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