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Billionaire Forrest’s Hydrogen Unit to Speed Expansion Plans

  • Fortescue’s green division to invest in additional plants
  • Energy arm’s value will eventually top iron ore business: CEO
Andrew Forrest
Andrew ForrestPhotographer: Jason Alden/Bloomberg

The clean energy arm of billionaire Andrew Forrest’s Fortescue Metals Group Ltd. will add more investments in manufacturing facilities as the demand outlook for green hydrogen strengthens.

A plant under construction in Australia to manufacture electrolyzers -- equipment used to create hydrogen -- already won’t be sufficient to keep pace with accelerating interest in supply of zero-emissions fuel, according to Mark Hutchinson, chief executive officer of Fortescue Future Industries.