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.