Andrew Forrest’s Fortescue has thrown off the dead weight of iron ore’s diving fortunes and lifted off with hydrogen power.
The stock had risen more than 8 per cent this afternoon following a deal to supply green hydrogen to US-based Universal Hydrogen for use in the aviation industry.
“Universal Hydrogen has an ambitious plan to help fight climate change, with a goal of making hydrogen-powered commercial flights a reality – and FFI is committed to enabling that target,” says Fortescue chairman Andrew Forrest who also chairs FFI, its green power business.
The agreement includes Fortescue looking into the possibility of setting up hydrogen production and logistics hubs in Iceland and New Zealand, as well as Queensland.
Why the big price rise tiday?, page-3
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