FFI are getting on with the job too with green powered mining trucks and trains and now a (partly) green ammonia powered ship ready to sail. They would be a great partner for our green ammonia project because they are keen to go green ASAP (real zero by 2030 is only 6 years from now so a huge ambition) and very well funded so would help bring our green ammonia project to production much sooner than Mnb could do on its own. I know a deal between a giant like Fortescue and a minnow like Minbos seems like wishful thinking but they are treating their move to green with urgency and we have a fantastic, world leading, very competitive project, ready to advance with green power infrastructure already complete and ready to supply at an incredibly low green electricity price, averaging just 1.1c/kwhr locked in for 25 years. Many investors here want to see the phosphate project up and running before even considering the green ammonia project or giving it any value. That can be seen in the current very market cap for a company with two projects of this scale at advanced stages. I have a lot of confidence that the phosphate will be up and running this year but I see the two projects independently of each other and not one being a prerequisite of the other. The company has told investors to watch for a partner for the green ammonia. I don't know if that is what is being negotiated right now while Mnb is in suspension but it seems likely to happen soon. When it does, the market is likely to place a significant value on the green ammonia project on the release of that news and not after the phosphate project is up and running. We could see a big rerate on news of a partnership with a big, well funded company with very big ambitions to go green ASAP.
"Green Pioneer: World-first ammonia ship fills up in Singapore"
"In 2021, Australian mining and cleantech company Fortescue announced a plan to float the world's first ammonia-powered ship by 2022. It's a bit late, and not quite as ammonia-powered as we hoped, but the Green Pioneer now appears ready to roll." The article goes on to say that safety protocols need to be set up before the ship can use ammonia for power - this ship also has diesel engines for now but another company is working on a tug that is fully green. "The Fortescue Green Pioneer has two diesel engines and two ammonia/diesel engines – ammonia requires high temperatures before it'll burn properly, so an ammonia combustion solution may never get to the point of being totally clean.There is another option – get that ammonia through one kind of fuel cell or another, turn it into water, electricity and harmless nitrogen, and use the power to drive electric motors instead. That's what Brooklyn company Amogy is doing with an ammonia-fueled tug it was hoping to have up and running by 2023. It's unclear to us exactly how far the Amogy project has come since then, despite the video below, published a few months ago and focused on the ammonia tug. Either way, Amogy and Fortescue are both leading the adoption of ammonia and hydrogen in a range of projects, from Fortescue's mining trucks and trains to Amogy's semi trucks. There might be some competition here for who exactly is first to do what, but both are surely wishing the other great success."
