Fortescue has announced that it has become a lead investor in Electric Hydrogen (EH2), a US-based electrolyser startup. The company has also signed a framework procurement agreement to supply 1 gigawatt of EH2’s electrolyser systems to Fortescue’s green hydrogen projects in the US and globally.
EH2’s electrolyser systems produce green hydrogen from renewable electricity and water at large scale. Each EH2 electrolyser system can make nearly 50 tons of green hydrogen per day at transformational low cost.
The investment in EH2 is a significant step forward for Fortescue’s green hydrogen ambitions. The company is pursuing a number of green hydrogen projects around the world, including a 5 million tonne per annum project in Western Australia and a 1 million tonne per annum project in the United States.
The investment in EH2 will help Fortescue to secure the electrolysers it needs to deliver on its green hydrogen projects. It will also help to accelerate the development of green hydrogen technology and reduce the cost of green hydrogen production.
The investment in EH2 has the potential to have a significant impact on the green hydrogen industry. Fortescue is one of the world’s leading iron ore producers and a major player in the mining industry. The company’s investment in EH2 will help to validate the technology and make it more attractive to other potential investors and customers.
The investment in EH2 will also help to accelerate the development of green hydrogen technology and reduce the cost of green hydrogen production. This will make green hydrogen more competitive with fossil fuels and help to drive the adoption of green hydrogen in a wider range of applications.
The investment in EH2 is a significant step forward for the green hydrogen industry. It will help to validate the technology, reduce the cost of production, and drive the adoption of green hydrogen in a wider range of applications.
