Australia’s Fortescue Future Industries to invest in hydrogen firm
SUMMARY
Fortescue Future Industries joins Three Cairns Group and Galvanize Climate Solutions in a funding round and shareholding agreement.
By Shardul SharmaAustralia’s Fortescue Future Industries (FFI) will invest in Europe and US-based green hydrogen and renewable energy development company Zhero, the company said on November 1.
FFI joins Three Cairns Group and Galvanize Climate Solutions in a funding round and shareholding agreement that will help Zhero to accelerate the development of its team buildout and project pipeline delivery.
Zhero is targeting a final investment decision for 5GW of projects by 2026 in the US, Africa, the Middle East and Australia. Its first investment is in Tree Energy Solutions (TES), which aims to accelerate the development of an import facility in Germany. The first delivery of green hydrogen into TES’ terminal in Wilhelmshaven is anticipated to take place in 2026.
