have you considered what they would have been if he had of just stuck to iron ore instead of pissing billions against the wall over the past few years?
Let's delve deeper into these comments of yours.
If by "p...... billions against the wall over the past few years", is going to eliminate 1 billion litres of diesel per year in their own operations alone, then not only does it make significant economical sense, but more importantly planetary sense, and that's what Fortescue intend to do and are already on their way to achieving.
People need to get their facts right.
Fortescue Energy consists of three divisions:
1.Fortescue Future Industries - this will all be about producing "green energy" (not just green hydrogen) with a focus on developing and producing green energy projects globally. They've nailed three projects to date with three Financial Investment Decisions over the line with two to three other projects getting very close to a board decision. Note, the Brazil Project, has received an "early investment decision" by the Board. See here
AF said in the interview below..."where we have low cost energy, we're continuing."
In other words, their focus is going to be on projects and jurisdictions that make significant economical business sense now going forward.
Their focus isn't just going to be on "green hydrogen" alone. The market and media need to stop with all the doom and gloom write ups without knowing the finer details for starters. They've obviously found that some of the projects/areas that they have had their attention on aren't going to cut it economically going forward, due to unfavourable conditions in the market, but that doesn't mean that "green energy" is dead, far from it.
So what are are some of those areas/projects that Fortescue are focused on - the green fertiliser project which Fortescue have formed a partnership with the Government of Morocco is one. This is no MOU either. Then there's the "green iron" that they are working on in-house where they have already produced their first green iron sample and are potentially looking to form collaborations with China. The company is proving in-house that hydrogen can be used across the board in industry, in energy creation and energy storage.
2.Fortescue Hydrogen Systems - will be about producing electrolysers and hydrogen production systems development and manufacturing. This folks includes the Gladstone manufacturing facility that are rolling out their in-house photon exchange membrane (PEM) electrolyser stacks and as AF highlighted in the interview "we're selling electrolysers as we speak". Wouldn't be at scale, but commercial already. Fortescue's project that got the nod - Gladstone PEM50 "showcases Fortescue's technical expertise and commercial viability in hydrogen production systems, positioning the company as a global leader in manufacturing technology for industrial-scale green hydrogen applications". Refer to link below.
3. Fortescue Zero (formally WAE) - will be focused on world-leading advanced battery technology and fleet technology development and manufacturing. The Liebherr/Fortescue partnership alone is where they have the opportunity to really shine. Isn't it interesting that the market nor media puts any attention on this. They've already secured deals in this sub-segment and imv it's only the beginning.
Tony
(sorry for the insult, couldn't help meself!
(20min delay)