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E.ON, Fortescue in Deal to Supply Green Hydrogen to Europe

  • Companies plan to deliver 5 million tons a year by 2030
  • Move comes as Europe tries to wean itself off Russian energy
Updated on

German energy giant E.ON SE and a unit of Australia-based Fortescue Metals Group Ltd. plan to supply green hydrogen to Europe as the continent seeks to reduce its dependency on Russian energy.

The companies will work together to deliver 5 million metric tons of hydrogen a year by 2030, they said in an emailed statement on Tuesday, after signing a memorandum of understanding in Berlin. The fuel will be produced using renewable power in Australia and will be distributed by E.ON.