Baker Hughes and Fortescue Future Industries (FFI) have agreed to collaborate on the development of green hydrogen and geothermal energy.
Heavy industry corporation FFI, a member of the top 10 ASX-listed company Fortescue, is developing a portfolio of renewable energy projects, including geothermal and hydropower.
For the development of hydrogen and ammonia, the two will draw on Baker Hughes’ skills in liquefaction and compression, and for geothermal energy, Baker Hughes will use its skills in subsurface investigation, well services, and other areas like digital performance management.
“FFI and Baker Hughes share aspirations for altering and speeding the energy transition,” stated Lorenzo Simonelli, CEO of Baker Hughes.
“Our array of technology can put both businesses in the lead in combating climate change with workable and realistic solutions. We’re thrilled to help FFI achieve its goals for a more sustainable future.
The companies claim their early-stage technologies will potentially help reduce greenhouse gas emissions in both energy production and hard-to-abate industrial sectors like mining, steel, and cement. They also aim to bring these technologies to commercial scale more quickly than would otherwise be possible.
The second annual Baker Hughes annual conference in Florence saw the announcement of the memorandum of understanding between Baker Hughes and FFI.
“There is significant demand for green hydrogen and green energy, and technical solutions like those pioneered by Baker Hughes are critical to growing supply,” Fortescue Future Industries CEO Mark Hutchinson said.
We are eager to collaborate with Baker Hughes on a range of initiatives that will make it possible for businesses and the global community to transition beyond fossil fuels.
