Fortescue progresses its green energy vision

Fortescue continues to make progress towards its goal of being the number one green technology, energy and metals business, according to its latest quarterly report.

While iron ore shipments totalled 45.9 million tonnes (Mt) in Q1 FY24, attention was on achievements in the company’s move into the green energy space.

During the quarter Fortescue:

• Completed the acquisition of the Phoenix Hydrogen Hub in the United States, where phase one proposes an 80MW electrolyser and liquefaction facility
• Announced that from FY24 onwards, Fortescue will no longer buy voluntary offsets unless required by law, with the funds reallocated to the Company’s decarbonisation plan
• In October 2023, opened a new zero emission battery factory in Kidlington, United Kingdom
• And in October 2023, submitted Fortescue’s Climate Transition Plan to the UN Race to Zero.

The company’s new technical innovation centre also in Kidlington will focus on the technical development, testing and prototype production of batteries and zero emission powertrains for a wide range of applications.

Fortescue Energy Chief Executive Officer Mark Hutchinson, said: “Together with our strong balance sheet and focus on investing in growth, we are well placed to advance our transition to becoming the number 1 green technology, energy and metals company while ensuring we continue to deliver benefits to all our stakeholders.”

Hutchinson said the Perth company was on track with progressing its green energy projects and executing its decarbonisation roadmap.

“Our battery electric haul truck prototype is being tested at our Chichester Hub and we have also received the first T264 haul truck from Liebherr which signifies the start of the conversion of our fleet to zero emissions.

“The initial delivered units will be diesel powered with the remaining battery electric.

“The diesel powered trucks will be converted to our in-house battery solution developed by Fortescue WAE.”

Fortescue is progressing its global portfolio of green energy projects, with a target of taking five to Final Investment Decision by the end of calendar year 2023.

During the quarter it entered a power purchase agreement with Genex Power Limited for 337.5MW of new solar energy, intended to meet a portion of the renewable energy requirements for the proposed Gibson Island Project in Queensland.

Construction is also ongoing of the 100MW solar farm at North Star Junction and testing of the first battery electric haul truck prototype in the Pilbara.

Further reading:
Fortescue buys up $35 million hydrogen project in Arizona
Fortescue opens new automotive development site at Kidlington
Fortescue and Incitec Pivot strike green gold at Gibson Island

Picture: Fortescue