Fortescue Future Industries has put up another point toward its global green hydrogen preferences with the signing of a Memorandum of Understanding with German polymer corporation Covestro for the counterpart of 100,000 tonnes of solar-sourced green hydrogen and its by-products annually, starmencing as early as 2024.

Fortescue Future Industries’ (FFI), the entirely owned subsidiary of Australian-based iron ore massive Fortescue Metals Group, is proceeding to act on its furthermore, gigantic green hydrogen yearnings with the declaration of a long-term allowance deal with leading German polymer firm Covestro. The Memorandum of Understanding (MoU) will see FFI replenish Covestro with green hydrogen and its offshoots, including green ammonia, launching as early as 2024.

The MOU with Covestro agenda:

The MoU declares that FFI and Covestro agenda to regularize an authorization that will see the former allowance the latter with the counterpart of up to 100,000 tonnes of green hydrogen yearly. That proportion is enough to curtail Covestro’s CO2 emissions by up to 900,000 tonnes a year through the use of its recent procedure of grey hydrogen.

FFI founder and Fortescue chairman Andrew Forrest:

FFI lately declared openly enterprising plans to assemble one of the enormous renewable energy portfolios in the world, providing more than 235 GW of the renewable facility. And in current months, FFI has also endorsed agendas with AGL to flip New South Wales’s coal generators in the Hunter Valley to green hydrogen, to manufacture the world’s hugest electrolyzer manufacturing plant in Queensland as well as a 1 GW solar manufacturing factory, assumably also in Queensland though the locale is not yet confirmed.

“This is a surface-breaking confederation which strengthens the ability of green hydrogen to expedite the decarbonization of some of the most energy-intensive enterprises around the world,” explained Forrest. “FFI and Covestro ration the assumption that green hydrogen and green ammonia will take advantage of a significant function in enabling firms to reach their condition targets and staving off runaway global warming.”