I am really sad about this..............
Fortescue's Gladstone green hydrogen project faced several challenges that led to its reassessment. The company decided to pivot away from manufacturing and focus more on research and development due to cost concerns and global market conditions. The Gladstone PEM50 electrolyser project was particularly affected, as Fortescue abandoned the technology because it was too expensive. Additionally, policy uncertainty in Australia and abroad contributed to difficulties in securing funding and maintaining momentum in the green hydrogen sector.The Queensland government also cancelled financial support for the Central Queensland Hydrogen Project in Gladstone, which was meant to build an export market. These factors combined to make the project unsustainable in its current form, leading Fortescue to cut jobs and refocus its efforts on developing more efficient and cost-effective green hydrogen technologies.
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$15.73 |
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Mkt cap ! $48.43B | |||
| Open | High | Low | Value | Volume |
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