In a bid to combat Europe’s energy crisis, Fortescue Future Industries (FFI) and Tree Energy Solutions (TES) have agreed to develop the ‘world’s largest’ green hydrogen integrated project, to bring green molecules to the continent.
Together, FFI and TES plan to develop industrial-scale green hydrogen production globally with an initial focus on Australia, Europe, Middle East, and Africa. In its first phase, the project is expected to see the supply of 300,000 tonnes of green hydrogen developed.
As part of the partnership, FFI is set to make an equity investment of €30m ($29.8m) to become a strategic shareholder in TES, as well as invest €100m ($99.3m) for a significant stake in the construction of the TES import terminal in Wilhelmshaven, Germany.
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