Fortescue Future Industries is acquiring an interest in Sparc Hydrogen Pty Lt, a company which has an exclusive licence to develop and commercialise next-generation green hydrogen technology created by the University of Adelaide and Flinders University. Sparc Hydrogen is researching technology which would see green hydrogen produced by only sunlight and water (photocatalytic water splitting coupled with solar radiation), instead of renewable energy and electrolysis.Being a technology focused company provides FFI with the opportunity to become a significant participant in the global green hydrogen industry. Sparc Hydrogen’s promising early-stage technology has the potential to create significant energy efficiencies and a cost competitive advantage with low capital and operating expenditure required compared to renewable energy and electrolysis.This investment builds on the announcement last week that Fortescue has entered into an agreement to acquire UK-based Williams Advanced Engineering to support the decarbonisation of Fortescue’s mining operations and deliver on the Company’s target to achieve carbon neutrality for Scope 1 and 2 emissions by 2030.FFI is aiming to utilise and develop emerging technologies to demonstrate to the world that the decarbonisation of heavy industry is possible and then deliver that technology to the significant global market. In the case of Sparc Hydrogen, if this early-stage technology is successful, it could ultimately be used to help produce green hydrogen at a larger and more affordable scale.FFI is also building one of the largest electrolyser factories in the world in Gladstone, Queensland with the first sod due to be turned this month. This technology will complement our existing world leading work in green hydrogen research, technology development and production.