FFI strikes $80m investment deal with US' NREL

PERTH – Iron-ore major Fortescue Metals’ green energy arm, Fortescue Future Industries will invest $80-million in a partnership with the US Department of Energy’s National Renewable Energy Laboratory to create green jobs in America and advance green hydrogen production and technologies.

FFI said on Tuesday that combined with the impact of the Inflation Reduction Act , this investment is expected to catalyse a strong increase in manufacturing in the green industrial ecosystem, which much be established if the world is to change to a zero-pollution future.

“This will be complemented by our deep integration into the American science and technology community. Fortescue has a world leading fully costed construction plan to reach real zero Scope 1 and 2 emissions by 2030. This strategy will eliminate three-million tonnes of carbon per annum from the atmosphere and save the company $818-million a year. The work undertaken through this partnership will contribute to this mission.

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