They've purchased a few startups / companies
Jan 2022 - WAE was purchased
Feb 2022 - 20% stake in Sparc (direct hydrogen startup)
May 2022 - 60% stake in Hyet (for Hydrogen electrolysers, compression and solar film)
Caterpillar might not buy truck tech from fortescue, but others are:
https://www.liebherr.com/en/aus/latest-news/news-press-releases/detail/fortescue-and-liebherr-establish-partnership-for-zero-emission-mining-equipment.html
No one has stated they can't make the electrolysers work AFAIK, the problem with PEM50 is the lack green electricity of green electricity for sale in QLD, I'm pretty sure they will get there, but might be delayed a couple of years until more capacity comes online.
But FMG won't be only using their own tech, i'm sure the first few projects will be using commercial off the shelf products from other suppliers.
They've got dozens of projects in flight, just need to lock in a few more of them.
Anyway, you may be right long term, but its too early to know, come back in ten years...till then we're enjoying iron ore profits
They've purchased a few startups / companiesJan 2022 - WAE was...
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$24.12 |
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Change
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| Last updated 15.59pm 05/06/2024 ? | |||||
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