Fortescue to become UK's 'largest supplier of green, renewable hydrogen'

Fortescue Future Industries (FFI) will become the largest supplier of green hydrogen to the United Kingdom after signing a multi-billion-pound deal with construction giant J C Bamford Excavators (JCB) and Ryze Hydrogen (Ryze).

Fortescue Future Industries announced the deal today. The company plans to produce zero-emission green hydrogen from 100 per cent renewable sources.

Under a memorandum of understanding signed today prior to the climate conference, COP26, JCB and Ryze will purchase 10 per cent of FFI’s global green hydrogen production.

FFI’s green hydrogen production is anticipated to grow to 15 million tonnes of GH2 per year by 2030, accelerating to 50 million tonnes per year in the next decade thereafter.

Under the partnership, FFI will lead the green hydrogen production and logistics to the UK market, and JCB and Ryze will manage green hydrogen distribution and development of customer demand in the UK.

By Kitco News

For Kitco News

Follow @kitconewsnownewsfeedback@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Another 'Bubble Check' for the gold sector

Gold stocks continue to hit new highs

Some mining stocks exposed to Burkina Faso take major hit

Gold stocks again hit new highs

Gold stocks reach new highs on metal price gain