New Energy
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
This article is for subscribers only.
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.