Fortescue Metals Group has signed a Memorandum of Understanding with Kawasaki Heavy Industries and Iwatani Corporation to develop a business model for the supply of liquid hydrogen into Japan. Under the MOU, the three parties will establish the Global LH2 Consortium to facilitate collaboration for the establishment of large scale, liquid hydrogen production and supply capabilities. The Consortium will focus on joint activities associated with the development of renewable hydrogen projects in Australia and overseas, with a view to establishing liquid hydrogen supply chains and the distribution and offtake of liquid hydrogen within Japan.
Fortescue Chief Executive Officer Ms Elizabeth Gaines said, “The world’s transition to a clean energy future represents a major growth opportunity and this partnership with Kawasaki and Iwatani will help position Fortescue at the forefront of the establishment of a global renewable hydrogen industry. Japan has been identified as one of the priority north Asian markets for hydrogen exports. By leveraging our value chain and market access as well as the skills and capability of our people to rapidly develop complex projects, we believe Fortescue is well placed to meet the future demand of green hydrogen.”