POWER!!!! Fortescue Future Industries, page-4425

Government Commitment: The Australian Government has made a decade-long commitment to the green hydrogen industry. They are offering a Hydrogen Production Tax Credit to incentivize green hydrogen projects. This subsidy aims to kickstart a major domestic industry, create jobs, and make green hydrogen competitive with fossil fuels. Prime Minister Albanese’s government sees this as an opportunity for Australia to become a significant energy producer¹.

Fortescue’s Initiatives:

• Chichester Hub: Fortescue’s Chichester Hub operations are powered by solar energy through the Alinta Energy Chichester Solar Gas Hybrid Project. This project supplies up to 100% of daytime energy at Fortescue’s Christmas Creek and Cloudbreak sites, significantly reducing diesel usage².
• Green Iron Plant: Fortescue is trialling its decarbonization green hydrogen technology at its major Chichester operations. The company aims to scale up this technology, particularly at its Christmas Creek Green Iron Plant. This initiative aligns with their commitment to sustainability and decarbonization¹.
• Hydrogen-Powered Mining Truck: Fortescue achieved a significant milestone by creating the world’s first mining truck to run on hydrogen. This demonstrates their dedication to green energy solutions³.
• Acquisition of Technology: Fortescue acquired Williams Advanced Engineering, gaining expertise in high-performance battery systems to further their decarbonization efforts⁴