Synopsis: Fortescue, a global leader in green energy and metals, is set to engage in award negotiations for the development of the Pacific Northwest Hydrogen Hub, backed by the U.S. Department of Energy. This endeavor, backed by up to $1 billion in funding from the Bipartisan Infrastructure Law, includes Fortescue's green hydrogen production facility in Centralia, WA. The project aims to accelerate green hydrogen production, reduce risk, and foster private sector investment while creating jobs and economic prosperity in the Pacific Northwest.Article: In a groundbreaking development, Fortescue, a prominent global player in green energy, metals, and technology, has been selected to initiate award negotiations in collaboration with the U.S. Department of Energy Office of Clean Energy Demonstrations (OCED) for the Pacific Northwest Hydrogen Hub. This ambitious project is estimated to receive substantial funding, up to $1 billion, as part of the Bipartisan Infrastructure Law.Fortescue's selection paves the way for its active involvement in establishing the Pacific Northwest Hydrogen Hub, a venture that encompasses Fortescue's proposed green hydrogen production facility located in Centralia, Washington.The OCED funding will play a pivotal role in supporting Fortescue's participation in the Hydrogen Hub. This support will encompass advancing planning, detailed design, environmental permitting, and the procurement of long-lead equipment, all of which are vital components of the project's progression.Dr. Andrew Forrest, Executive Chairman of Fortescue, expressed his enthusiasm for this opportunity, stating, "There is no place better in the world to be investing in renewable and green energy projects right now than the United States." He emphasized that federal funding and other incentives are instrumental in mitigating risks and expediting the widespread production of green hydrogen. This, in turn, is poised to stimulate substantial private sector investment, leading to the creation of well-paying jobs and economic prosperity, particularly in economically vulnerable communities in the Pacific Northwest.Andrew Vesey, Fortescue North America CEO, hailed this development as historic for the Pacific Northwest and its ambitious decarbonization strategy. He highlighted the company's commitment to accelerating the clean energy transition in the region.Fortescue's project in Centralia, Washington, is strategically located on a remediated coal mine adjacent to the state's last coal-fired power plant, slated for permanent retirement in 2025. The proposed facility is poised to produce green hydrogen at scale, catering to local needs in the Pacific Northwest. Its applications span heavy-duty transportation, grid reliability, maritime operations, industrial processes, and other hard-to-abate sectors.Beyond the significant clean energy advantages at the regional level, this project is set to bring high-paying jobs to the local workforce and act as a new economic engine for Lewis County, benefiting future generations.Currently in the design phase, the project is poised for full permitting processes. Construction is anticipated to commence in 2026 and extend into 2028, contingent on a Final Investment decision by the Fortescue board.Conclusion: Fortescue's selection for negotiations in the development of the Pacific Northwest Hydrogen Hub, backed by substantial funding, marks a significant stride in the realm of green energy. With a focus on accelerating green hydrogen production and fostering private sector investment, this initiative aligns with the U.S.'s clean energy goals. It not only promises environmental benefits but also aims to create jobs and drive economic growth in the Pacific Northwest, further cementing Fortescue's commitment to sustainable energy solutions.
Synopsis: Fortescue, a global leader in green energy and metals, is set to engage in award negotiations for the development of the Pacific Northwest Hydrogen Hub, backed by the U.S. Department of Energy. This endeavor, backed by up to $1 billion in funding from the Bipartisan Infrastructure Law, includes Fortescue's green hydrogen production facility in Centralia, WA. The project aims to accelerate green hydrogen production, reduce risk, and foster private sector investment while creating jobs and economic prosperity in the Pacific Northwest.Article: In a groundbreaking development, Fortescue, a prominent global player in green energy, metals, and technology, has been selected to initiate award negotiations in collaboration with the U.S. Department of Energy Office of Clean Energy Demonstrations (OCED) for the Pacific Northwest Hydrogen Hub. This ambitious project is estimated to receive substantial funding, up to $1 billion, as part of the Bipartisan Infrastructure Law.Fortescue's selection paves the way for its active involvement in establishing the Pacific Northwest Hydrogen Hub, a venture that encompasses Fortescue's proposed green hydrogen production facility located in Centralia, Washington.The OCED funding will play a pivotal role in supporting Fortescue's participation in the Hydrogen Hub. This support will encompass advancing planning, detailed design, environmental permitting, and the procurement of long-lead equipment, all of which are vital components of the project's progression.Dr. Andrew Forrest, Executive Chairman of Fortescue, expressed his enthusiasm for this opportunity, stating, "There is no place better in the world to be investing in renewable and green energy projects right now than the United States." He emphasized that federal funding and other incentives are instrumental in mitigating risks and expediting the widespread production of green hydrogen. This, in turn, is poised to stimulate substantial private sector investment, leading to the creation of well-paying jobs and economic prosperity, particularly in economically vulnerable communities in the Pacific Northwest.Andrew Vesey, Fortescue North America CEO, hailed this development as historic for the Pacific Northwest and its ambitious decarbonization strategy. He highlighted the company's commitment to accelerating the clean energy transition in the region.Fortescue's project in Centralia, Washington, is strategically located on a remediated coal mine adjacent to the state's last coal-fired power plant, slated for permanent retirement in 2025. The proposed facility is poised to produce green hydrogen at scale, catering to local needs in the Pacific Northwest. Its applications span heavy-duty transportation, grid reliability, maritime operations, industrial processes, and other hard-to-abate sectors.Beyond the significant clean energy advantages at the regional level, this project is set to bring high-paying jobs to the local workforce and act as a new economic engine for Lewis County, benefiting future generations.Currently in the design phase, the project is poised for full permitting processes. Construction is anticipated to commence in 2026 and extend into 2028, contingent on a Final Investment decision by the Fortescue board.Conclusion: Fortescue's selection for negotiations in the development of the Pacific Northwest Hydrogen Hub, backed by substantial funding, marks a significant stride in the realm of green energy. With a focus on accelerating green hydrogen production and fostering private sector investment, this initiative aligns with the U.S.'s clean energy goals. It not only promises environmental benefits but also aims to create jobs and drive economic growth in the Pacific Northwest, further cementing Fortescue's commitment to sustainable energy solutions.
