Fortescue recommits to ‘wicked hard’ green hydrogen ambitions
Fortescue’s innovation chief and former CSIRO head Larry Marshall says the company remains committed to its hydrogen dreams despite major setbacks.
Amid recent job cuts and the abandonment of its ambitious green hydrogen production targets, Fortescue is quietly pressing ahead with its most ambitious energy project to date.
Fortescue’s head of innovation, Larry Marshall, said the miner remains committed to green hydrogen despite significant engineering and economic challenges associated with the volatile energy source in Australia.
“We're figuring it out, we're proving it works, and we are investing in some bigger projects, for example, in other parts of the world where the cost of green electrons is lower,” Marshall told Capital Brief ahead of his presentation at the Circularity 2024 conference in Sydney.
“Unfortunately, we haven't been able to find a good hydrogen project in Australia, and we really hoped we would. The government did the hydrogen subsidy, which is great, but it still doesn't offset the cost of energy enough to make it, to make the numbers work.”
