Fortescue's Green Leap with Fortescue Capital

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Synopsis:

Fortescue Metals Group unveils Fortescue Capital, a green energy investment platform led by CEO Robert Tichio, signifying the company's commitment to sustainable projects and decarbonization. Positioned in New York, the platform aims for enhanced shareholder returns while driving global green energy initiatives.

Article:

Fortescue Metals Group introduces Fortescue Capital, a pivotal stride in their pursuit of green energy initiatives. Headquartered in New York City, this platform underlines Fortescue's dedication to fostering green energy projects and advancing decarbonization endeavors.

Robert Tichio assumes the mantle of CEO and Managing Partner at Fortescue Capital, bringing substantial expertise gleaned from a distinguished career spanning over 17 years at Riverstone Holdings, a prominent New York-based private equity firm.

Mark Hutchinson, Fortescue Energy CEO, emphasizes the company's progression toward final investment decisions concerning green hydrogen and ammonia projects. Fortescue Capital emerges as a crucial facet in engaging additional equity investors and realizing their commitment to decarbonize Pilbara operations.

Welcoming Tichio to the Fortescue fold, Hutchinson expresses enthusiasm, highlighting Tichio's role in steering a team equipped with profound experience in energy sector capital formation and investment management.

The leadership team of Fortescue Capital comprises individuals with global backgrounds in sustainable infrastructure, climate technology, energy, and private markets. Nathan Craig, Rael McNally, and Jennifer Zarrilli, as Managing Directors, reinforce the platform's robust foundation, operating from New York.

Tichio's vision for Fortescue Capital resonates with the company's pursuit of large-scale, impactful decarbonization solutions. The platform seeks to engage global institutional investors and champion industrial solutions for challenging emission categories.

Fortescue Capital's operational hierarchy includes Tichio reporting to Mark Hutchinson, CEO of Fortescue Energy, and an Operating Board initially comprising key stakeholders driving the company's strategic vision.

Designed as a fiduciary for third-party capital, Fortescue Capital aims to complement existing corporate finance teams, offering diverse funding models aligned with project approvals by the Fortescue Board. Equity stakes in each project are expected to range between 25% to 50%, involving third-party investors from sovereign wealth funds, pension funds, insurance companies, and family offices.

Conclusion:

Fortescue's launch of Fortescue Capital marks a pivotal step in their pursuit of sustainable energy initiatives. This platform's strategic direction, led by Robert Tichio, signifies an ardent commitment to drive impactful decarbonization solutions while engaging global investors in pioneering green energy projects.

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