Fortescue, an international company committed to fighting climate change, has invested heavily in Norwegian Hydrogen. This strategic collaboration enables Fortescue to acquire a 12.5% stake in Norwegian Hydrogen, making it the company’s third largest shareholder.
A strategic collaboration for green hydrogen
Mark Hutchinson, CEO of Fortescue Energy, stressed the urgency of decarbonizing hard-to-decarbonize sectors and transitioning to renewable energies. He said: “Climate change is already here, and companies need to work together to combat it. Large-scale green hydrogen production is essential to phase out fossil fuels. Fortescue’s investment in Norwegian Hydrogen is a crucial step in supporting the entire green hydrogen value chain, both for our projects in Norway and for the global green hydrogen and green ammonia industry.”
Norwegian Hydrogen: Leader in green hydrogen production
Jens Berge, CEO of Norwegian Hydrogen, welcomed Fortescue’s acquisition of a stake in the company, underlining the growing international interest in green hydrogen production and distribution projects. He said, “Fortescue and its founder, Dr Andrew Forrest AO, have been ardent advocates of the transition needed to meet climate targets, as well as the central role that green hydrogen will play in the future energy mix. We look forward to working with Fortescue to accelerate the transition to zero emissions.”
Concrete projects in Scandinavia
Norwegian Hydrogen is already building its first hydrogen plants in Hellesylt, at the entrance to the Geirangerfjord in Sunnmøre, and in Hjørring, Denmark. The company also announced the creation of one of the Nordic region’s largest green hydrogen production plants in Ã…lesund. In March this year, Norwegian Hydrogen also set up the subsidiary Vireon, which is supported by Enova for the construction of hydrogen refueling stations for heavy-duty vehicles in DombÃ¥s, Stavanger and Vestby in Norway, with further stations planned in Norway, Denmark, Sweden and Finland.
Fortescue is currently developing a global portfolio of green hydrogen and green ammonia projects, with two potential projects already underway in Norway. The Holmaneset project in Bremanger is a 300-megawatt green hydrogen and green ammonia facility, while another 300-megawatt project is planned in the municipality of Hemnes. Thor Magnus Rovik, Country Manager for Fortescue in Norway, emphasized the importance of Nordic companies working together to promote green hydrogen products in Norway and Europe.
In short, Fortescue’s investment in Norwegian Hydrogen marks an important step in the transition to cleaner energy. This collaboration will contribute to the production and distribution of green hydrogen in Scandinavia and beyond, reinforcing global efforts to combat climate change.
