Fortescue Metals Group Limited’s green energy facet stated on 10th October that the firm is brainstorming to construct the world’s largest electrolyzer factory in Queensland, Australia. This factory will facilitate the injection of the Fortescue Metals Group into the Australian green hydrogen sector.
Fortescue establishes the first electrolyzer factory
Fortescue’s Chairman who is dubbed as one of Australia’s richest men, Andrew Forrest, has committed his all for the development and use of clean hydrogen that has been procured from renewable water and electricity. This endeavor is expected to reduce greenhouse gas emissions.
The new Fortescue electrolyzer factory will make professional paraphernalia like electrolyzers (used in hydrogen production), solar photovoltaic cells, wind turbines, and long-range electric cabling for Fortescue Future Industries (FFI) and its consumers.
The initial stage of the premeditated hub will be an electrolyzer factory in Gladstone, which is located 300 miles north of Brisbane, manufacturing electrolyzers with a volume of 2 gigawatts per year, stated FFI. The new-fangled electrolyzer factory will capacitate over double the present production worldwide.
The globe’s larger electrolyzer plant is presently managed by ITM Power in England, with a yearly volume of over 1 gigawatt.
FFI stated that the edifice is planned to be built in the dawn of February 2022. The first electrolyzers will alter water into oxygen and hydrogen in the dawn of 2023. The preliminary investment for the electrolyzer factory is estimated at USD 83 million. According to the demand, the investment is subjected to grow to around USD 650 million.
The Fortescue Future Industries stated that it was individually probing on the probability of converting chemical manufacturer Incitec Pivot’s Brisbane ammonia plant to be fueled on green hydrogen from natural gas via an on-site electrolysis plant that will manufacture up to 50,000 tons of hydrogen per year.
All in all, FFI stated that it is brainstorming to manufacture 15 million tons of green hydrogen every year by 2030. The firm is expecting to produce 50 million tons in the next 10 years, dedicated to the export and domestic markets.