Investors thinking that Fortescue's green hydrogen plans are over need to do their homework.
Fortescue have been working on a project in Pecém, Brazil for quite a while now.
About Fortescue's Project in Ceará
https://fortescue.com/what-we-do/our-projects/pecem
A few days ago, President of the Republic, Luiz Inácio Lula da Silva, together with Luis Viga Fortescue's Country Manager in Brazil and executive Sebastian Delgui and other business people participated in the sanctioning ceremony of the bill at the Port of Pecém that creates the law regulating the production of low-carbon hydrogen in Brazil. This is where Fortescue is developing its plant for hydrogen production. Remember, Fortescue recently received an "early investment decision" and that by the end of the year they will begin land and preparation works.
Why is this important? Because the hydrogen value chain covers the entire country and is set to benefit many sectors.
"The legal framework provides for a series of measures to develop the hydrogen industry in the country, including the implementation of a Brazilian hydrogen certification system and a special incentive regime for companies in the sector."
Make sure to Google translate.
Reference:
https://www.frissononline.com.br/noticias/162464/lula-sanciona-marco-do-hidrogenio-verde-no-ceara-em-cerimonia-no-porto-do-pecem
Tony
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