Storage tanks at a green hydrogen plant in Spain. Fortescue Future Industries is aiming to make 15 million tonnes of green hydrogen a year by 2030.Credit:Bloomberg
FFI is aiming to make 15 million tonnes of green hydrogen a year by 2030 – an ambitious goal for an energy source whose current global production is a tiny fraction of that target.
While green hydrogen has gained global attention for its potential future applications as a zero-emissions energy source,other companies building demonstration plants for the fuel are less bullish about its near-term outlook,arguing that it remains a new technology with significant obstacles surrounding its ability to be cost-competitive at scale.
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However,Hutchinson said two events have “supersized” green hydrogen’s potential.
The US Inflation Reduction Act will subsidise green hydrogen by nearly $US3 a kilo,making it immediately cost-effective for manufacturers and the war in Ukraine has made Europeans sit up and accelerate their plans,he said.
“Those two things globally,have been a major,major impetus to what we’re doing.”
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