Fortescue Future Industries (FFI) will become the United Kingdom’s largest supplier of green hydrogen (GH2) after signing a multi-billion-pound deal with construction giant J C Bamford Excavators (JCB) and Ryze Hydrogen (Ryze).
FFI’s GH2 production is expected to grow to 15 million tonnes per year by 2030, accelerating to 50 million tonnes per year in the next decade thereafter.
“This landmark, first of its kind partnership will help the UK to achieve Net Zero, particularly in the hard to electrify sectors,” FFI chairman Andrew Forrest said.
“Our agreement signals the first major shift in the global commercial landscape from fossil fuels towards the real, practical, implementable solution that is green hydrogen. We are delighted to announce this ground-breaking initiative at the critical climate forum of COP26.”
Prior to the COP26 climate conference, JCB and Ryze signed a memorandum of understanding that they will purchase 10 per cent of FFI’s global GH2 production.
Under the partnership, FFI will lead the GH2 production and logistics to the UK market, and JCB and Ryze will manage GH2 distribution and development of customer demand in the UK.
“This is an important step towards getting green hydrogen to the customer,” JCB chairman Lord Bamford said.
“It’s fine having an engine powered by green hydrogen, but no good if customers can’t get green hydrogen to fuel their machines. This is a major advance on the road towards making green hydrogen a viable solution.”
Founder of Ryze and owner of Wrightbus, Jo Bamford is widely regarded as the UK’s green hydrogen champion.
“This is a monumental deal, not just for us but for the UK as a whole,” Bamford said.
“We have chosen to partner with the global leaders in green hydrogen and it is fabulous that two countries, the UK and Australia, can come together to create a brighter future.”
Ryze is building the UK’s first network of green hydrogen production plants, while Wrightbus built the world’s first hydrogen double decker.
“This agreement demonstrates that green hydrogen does not need to be ‘transitioned’ via fossil fuel hydrogen,” Bamford said.
“Production of it can commence at once, to meet the needs of all mobility.”
The parties have agreed to evaluate collaboration opportunities to accelerate GH2 demand and establish green hydrogen and green industry manufacturing centres.